PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1443386
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1443386
Feed Palatability Enhancers Market size was valued at USD 3,650.45 Million in 2023, expanding at a CAGR of 4.1% from 2024 to 2032.
Feed palatability enhancers are additives that are utilized in animal nutrition to enhance the taste, smell, and overall palatability of feed. Their role is crucial as they motivate animals to readily consume their feed, thereby ensuring they obtain the necessary nutrients for growth, health, and productivity. The main objective of feed palatability enhancers is to stimulate animals' appetite and encourage them to consume a greater quantity of feed. By enhancing the taste and aroma of the feed, these additives assist in guaranteeing that animals receive sufficient nutrition and perform at their best. Feed palatability enhancers find application in various sectors of animal agriculture, such as poultry, swine, cattle, aquaculture, and the pet food industry. They prove particularly advantageous in situations where feed quality may be compromised or when animals undergo stress or changes in their diet.
Feed Palatability Enhancers Market- Market Dynamics
Increase in Consumption of Animal-Based Products are expected to drive the growth of market.
Feed palatability enhancers are substances that are added to animal feed in order to improve its taste and aroma. This, in turn, encourages animals to consume more feed, ensuring that they receive optimal nutrition intake. The rising demand for these enhancers has led to increased production levels in the livestock, poultry, and aquaculture industries. Animal farming has experienced significant growth worldwide as a result. For instance, in 2021, the global population of chickens reached approximately 25.9 billion. Additionally, around 357.4 million tonnes of meat were produced globally in the same year, with poultry meat production nearly doubling (+94%). According to the United Nations Environmental Programme (UNEP), livestock farming now occupies 78% of the world's agricultural land. This expansion of arable and pasture land has resulted in the destruction of natural habitats and a decline in biodiversity, as reported by Destatis. However, with increasing consumer awareness and regulatory pressure regarding animal welfare and sustainable production practices, there is an opportunity for market growth. It is important to note that intense competition and market saturation in certain segments may pose limitations for new entrants or existing players seeking to expand their market share.
Feed Palatability Enhancers Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.1% over the forecast period (2024-2032)
Based on Type segmentation, Feed Flavors and Sweeteners was predicted to show maximum market share in the year 2023
Based on Source segmentation, Natural was the leading type in 2023
Based on Livestock segmentation, Poultry was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Feed Palatability Enhancers Market is segmented on the basis of Type, Source, Livestock, Distribution channel, and Region.
The market is categorized into three groups according to Type: Feed Flavors and Sweeteners, Feed Texturants, and Others. Feed Flavors and Sweeteners hold a dominant position in the market. Continuous progress in feed manufacturing technologies enables the inclusion of diverse flavors and sweeteners in feed formulations while maintaining nutritional integrity.
The market is categorized into two segments, namely Natural and Synthesis, with the Natural segment holding the majority share. In order to enhance the palatability of feed, companies in the feed industry are actively investing in research and development. Their focus lies in innovating new natural palatability enhancers, which involves the exploration of botanical extracts, herbs, essential oils, and other natural ingredients that have the potential to improve feed intake and overall palatability.
The Livestock market is categorized into five segments: Swine, Ruminants, Aquaculture, Poultry, Pets, and Others. Among these, the Poultry segment holds the largest share. The inclusion of palatable feed plays a crucial role in ensuring that poultry consume the necessary nutrients, leading to enhanced growth rates, improved feed conversion ratios, and increased egg production in layers. Consequently, poultry producers are progressively acknowledging the significance of palatability enhancers in maximizing productivity and profitability.
The market is categorized into three segments according to the distribution channel: E-Commerce, Hypermarkets/Supermarkets, Specialty Stores, and Others. The distribution channels for feed palatability enhancers are varied and can differ based on factors like market segment, geographical location, and target customer profile. Implementing effective distribution strategies requires a thorough understanding of customers' specific requirements and choosing channels that provide maximum reach and convenience.
Feed Palatability Enhancers Market- Geographical Insights
Geographically, this market is spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The Asia Pacific region is projected to dominate the market growth, primarily due to the increasing demand for functional feed additives in animal feeds. Livestock producers in this region are becoming more aware of the significance of animal health and performance, and are actively seeking ways to improve the nutritional value and taste of animal feeds. Functional feed additives, such as palatability enhancers, play a vital role in achieving these goals by enhancing feed intake and nutrient utilization in animals. In 2021, the NHC and China National Center for Food Safety Risk Assessment (CFSA) accepted a total of 63 new applications for food additives, and 49 of these (including expanded use) successfully passed the technical evaluation and were made available for public comments. Europe holds the second largest market region, driven by the growing demand for food safety and the need for mass production of meat.
The feed palatability enhancers market is experiencing continuous advancements in feed formulation technologies and ingredient research, resulting in the creation of more efficient and effective enhancers. To remain competitive and meet the evolving demands of the market, producers are increasingly adopting these innovations. The competition in this market is driven by companies' ability to innovate, comply with regulations, and cater to the changing needs of livestock producers and consumers. Factors such as innovation, product quality, market reach, and customer support will continue to play a significant role in determining their competitive positions in the industry.
Companies are consistently developing new palatability solutions, ranging from natural sweeteners and flavorings to texture modifiers and gut health enhancers. For example, DuPont Industrial Biosciences (DuPont) recently introduced DuPont Syncra SWI, an adaptive feed additive that enhances the diet by acid digestibility for grower refining energy and amino acid digestibility for grower along with finisher pigs. This leads to improved growth and reduced feed costs. With this extensively researched and tested solution, swine producers in the United States and Asia-Pacific regions can optimize feed efficiency and achieve consistent growth performance for sustainable profitability.
In October 2023, the F3 Krill Replacement Challenge saw the participation of SCPs and sensory additive Lucta. They entered the challenge with a customized product that combines Lucta's sensory additive with a single-cell protein ingredient from Unibio.
On a global scale, the production of fishmeal requires approximately 15 million tons of whole fish. This alarming figure has raised concerns regarding the overfishing of pelagic fishes, which are used for fishmeal production. As a result, researchers and industries are currently exploring the potential of plant proteins, particularly soymeal, as a partial substitute for fishmeal in aquaculture feed formulations.
The pet food industry is a rapidly growing sector within the food industry, with immense potential for further expansion. According to the American Pet Products Association (APPA), pet-related sales in the U.S. exceeded USD100 billion in 2020. Out of this amount, USD29.6 billion was spent solely on pet food, while the remaining funds were allocated to supplies, over-the-counter medicines, veterinary care, live animal purchases, and other services such as grooming and boarding.
GLOBAL FEED PALATABILITY ENHANCERS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
DuPont
Associated British Foods plc (ABF)
Kerry Group plc
Symrise AG
Adisseo France SAS
Diana Food Inc.
Kent Feeds Inc.
Eli Lily & company
Elanco LLC
Symrise AG
Others