Market Overview:
Palatability is not only restricted to the adding of flavors but also improves the texture of the feed. Palatability enhancers play a vital role in mold control, oxidation, etc. Addition of palatability enhancers in the animal feed will have a positive effect on the health of animals and enhances the nutritive value that assists in the proliferation of indigenous lactic acid bacteria, which plays a key role in the activation of immunity against diseases. Ruminant livestock is the key source for the production of methane that is very harmful in the agriculture segment. The feed palatability enhancers & modifiers market is expected to be USD 3.07 billion in 2018 and estimated to grow to USD 3.67 billion by 2023 with a CAGR of 3.65%.
Market drivers and restraints:
Rising demand for safe and healthy human food, as well as mass production of meat, is the key factors that are boosting the growth of the feed palatability enhancers and modifiers market worldwide. Moreover, an increase in consumption of meat, customer awareness relating to the quality of meat, high feed demand and the quality of pet food are the few other factors that are driving the market growth of feed palatability enhancers and modifiers market.
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Report segmented as:
By Type:
- Natural
- Synthetic
By Livestock:
- Cattle
- Poultry
- Pet
- Others
Geographical analysis:
The Asia Pacific represents the biggest market for feed palatability enhancers and modifiers worldwide owing to the increase in animal health concerns and rising demand for animal feed in the region. The North American feed palatability enhancers and modifiers market is also growing quickly owing to the increasing awareness of pet owners about the quality products and relating to the chemicals employed, in the animal feeds.
Important market players:
The key companies operating in the feed palatability enhancers and modifiers market include Associated British Foods PLC, Diana Group, Eli Lilly and Company, Ensign-Bickford Industries Inc., Ferrer, Kemin Europa, Kent Feeds Inc., Kerry Group PLC, and Tanke International Group.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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