Palatants Market Is Emerging Industry In Developing Countries Industry Trends and Forecast to 2030
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Market Analysis and Insights of Global
Palatants Market
Last
few decades, it has witnessed a remarkable increase in the number of pet
owners, mainly in urban regions globally. Palatants play a significant role in
improving the taste, smell and texture of the pet food owing to which the
demand endures to move in the upward curve. Numerous premium and top-tier
players involved in the palatants market are investing substantial resources in
research and development activities to determine and evaluate the most
effective processing and manufacturing technique. In recent times, research and
development activities with numerous flavor enhancers have augmented at a
speedy pace which is another factor that is anticipated to increase the
palatants market growth in the forecast period.
Data Bridge Market Research analyses that the palatants market
is expected to reach USD 1860.85 million by 2030, which is USD 1296.57 million
in 2022, registering a CAGR of 4.62% during the forecast period of 2023 to
2030. In addition to the insights on market scenarios such as market value,
growth rate, segmentation, geographical coverage, and major players, the market
reports curated by the Data Bridge Market Research also include in-depth expert
analysis, geographically represented company-wise production and capacity,
network layouts of distributors and partners, detailed and updated price trend
analysis and deficit analysis of supply chain and demand.
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Market
Scope and Global Palatants
Market
The major players covered in the palatants
market report are AFB International., Kemin Industries, Inc., Diana Group,
Nestlé S.A., Ohly, Innovad, BHJ, Essentia Protein Solutions, Tyson Foods, Inc.,
Bitek, Goutriline, Alltech, Adisseo,
Pancosma, Chr. Hansen Holding A/S, Nutreco, Roquette Frères., Lesaffre, and
Nutreco N.V., among other domestic and global players. Market share data is
available for global, North America, Europe, Asia-Pacific (APAC), Middle East
and Africa (MEA), and South America separately. DBMR analysts understand
competitive strengths and provide competitive analysis for each competitor
separately.
Global
Palatants Market Scope
The
palatants market is segmented on the basis of nature, form, source and end-use
application. The growth amongst these segments will help you analyze meagre
growth segments in the industries and provide the users with a valuable market
overview and market insights to help them make strategic decisions for
identifying core market applications.
Nature
- Organic
- Conventional
Form
- Liquid Palatants
- Dry Palatants
Source
- Vegetable Derived Palatants
- Corn
- Soy
- Potato
- Specialty Grains
- Meat Derived Palatants
- Poultry
- Pork
- Fish
End-use Application
- Bovine
- Swine
- Poultry
- Fish/Aquaculture
- Pet Food
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Palatants Market
Dynamics
Drivers
- Increasing
consumer awareness regarding claims
In
the global pet food market, numerous manufacturers collaborate with other
research businesses to produce special palatants to instruct the diet claims in
their final products. Diet claims that mostly appeal pet food owners are
grain-free, natural, and organic, where 'natural' is the prominent claim in the
pet food sector that has considerably augmented the demand for the natural
palatants in the pet food sector. Adding high amounts of specific and
functional nutrition in pet food results in off-tasting final products. To
overcome this unpleasant taste, manufacturers commonly use large amounts of
palatants per governing laws. Thus, increasing consumer awareness regarding
claims is anticipated to drive the market growth.
- Increasing demand
of plant-based palatants
Research
and development activities are expected to play a significant role in the
growth of the global palatants market. In the last few years, many plant-based
dog and cat food palatants have entered the market owing to the increasing
safety concerns associated with animal-based palatants. Numerous major
companies operating in the present palatants market are progressively inclined
toward manufacturing plant-based palatants. Therefore, increasing demand of
plant-based palatants is anticipated to boost the market growth rate.
Opportunities
- Increased Pet
Humanization
In
the global pet market, pet owners treat their pets as family members, and they
are more worried about their pets' food, nutrition and eating habits. People
love their pets due to many reasons, for instance they see them as a source of
unconditional positive regard and security. Pet humanization is also known as
anthropomorphism which has become a very popular expression in the pet food
sector because several pet owners pursue to offer human-like products to their
pets. As per the survey of 2017-2018 which has done by American Pet Products
Association (APPA), around 28% dog owners have celebrated birthday of their
pups. The buzz of humanization is on the growth, and some industries are
investing to increase vibrant palatants in pet food. Companies such as bistro,
Merrick Pet Care chose gourmet, and banquet to describe their dog and cat food.
Furthermore, AFB International has created numerous palatants that make pet
food more interesting to companion pets and their owners.
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