Global Feed Palatability Enhancers and Modifiers Industry 2020, according to MRFR, is expected to witness substantial growth at an impressive CAGR over the assessment period.
Over the past few years, the feed palatability enhancers & modifiers demand has been rising gradually. Feed palatability enhancers and modifiers have acquired a vital role in the feed supplements because they are highly effective in animal feed industry production. The need for animal-based goods, the need to improve livestock production, and the introduction of advanced and new animal husbandry methods have resulted in enhanced demand for enhancers and modifiers in feed palatability. The dietary addition of these palatability enhancers has a beneficial impact on animal welfare as it is combined with other nutritionally valued feed additives. This aids in the growth of endogenous lactic acid bacteria and plays a prominent role in triggering the immune response to disease, thereby increasing the overall market.
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Growing customer perception of meat quality, increasing demand for animal feed, raising concern about pet food safety and growth in global meat consumption are some of the main driving forces in the market for feed palatability enhancers and modifiers. The rise in the cost of raw materials and the adverse effects of additives serve as significant restrictions on demand for feeding stuffs and modifiers.
PRINOVA Group LLC. (U.S.), Kerry Group (Ireland), Ensign-Bickford Industries Inc. (U.S.), TANKE International Group (China), PANCOSMA SA (Switzerland), Grupo Ferrer INTERNACIONAL, S.A. (Spain), NUTRIAD International NV (Belgium), KEMIN Industries (U.S.), Phytobiotics FUTTERZUSATZSTOFFE GmbH (Germany), DOWDUPONT (U.S.), and Solvay S.A. (Belgium) are some of the major players in the Global Feed Palatability Enhancers and Modifiers Industry.
Global Feed Palatability Enhancers and Modifiers Industry has been segmented based on type, livestock, and region.
The global demand for feed palatability enhancers and modifiers was segmented into colors, sweeteners and text rants depending on form. The section of flavors and sweeteners accounted for the more significant market share in 2020. During the forecast period the section is also projected to record the higher CAGR.
The global demand for feed palatability enhancers and modifiers was divided into ruminants, cats, swine, aquaculture, and others by the livestock. During the evaluation period, the ruminant’s segment is expected to dominate the global feed palatability enhancers and modifiers market, while the poultry segment is expected to account for a marginal market share. The pet segment is, however, expected to show the fastest growth during the forecast period.
Based on region, Global Feed Palatability Enhancers and Modifiers Industry has been segmented into North America, Europe, Asia-Pacific, and RoW.
Due to the growing feed industry in the region, Asia-Pacific is expected to dominate the feed palatability enhancers and modificatory market during the forecast period. With China and India being the largest country-level markets for feed palatability enhancers and modifiers in the region, the market is projected to register the highest CAGR during the forecast period. The commercialization and modernization of animal husbandry and growing knowledge of the significance of feed quality in animal production are the key drivers for the growth of feed enhancers and modifiers in the region.
Due to the consciousness of pet owners about the quality products and the additives used in animal feeds, the North American feed enhancers and modifiers industry is also rising rapidly.
Overall, the animal feed enhancers & modifiers industry in the European region has stagnated dramatically over the past few years due to tight regulations and factors such as the cost and competitiveness of animal feed, which has been a critical factor in hindering its development. At the same time, market awareness about the chemicals used in animal feed has resulted in some of the significant advances in the region’s animal feed palatability enhancers & modifiers.
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