North America Palatants Market Forecast to 2028 - COVID-19 Impact and Regional Analysis -by Form (Dry and Liquid), Category (Organic and Conventional), and Source (Plant Derived Palatants, Meat Derived Palatants, Insect Derived Palatants, and Others)

List of Tables

The North America palatants market is expected to grow from US$ 457.99 million in 2022 to US$ 663.02 million by 2028. It is estimated to grow at a CAGR of 6.4% from 2022 to 2028.

Rising Popularity of Pet Humanization have Increased the Demand for North America Palatants Market

In recent years, the humanization of pets grew significantly across the region. The shift from pet owning to pet parenting has been a defining trend in the palatants market, especially in developed economies. According to the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 70%, i.e., approximately 90.5 million of the US households, own one or more pets, the majority being dogs and cats. Increasing consumer spending on pet care categories is attributed to the growing trend of pet humanization. Consumers are increasingly spending on premium pet food and products that are healthy, nutritious, and improving living conditions. There is a growing focus on pet health and wellness, sustainable products, eco-friendly, natural and locally-sourced ingredients. Consumers are also investing in special diets and indulgent products, which promise a better quality of life to their pets. The use of palatants in pet food helps improve the taste, flavor, and texture that resemble their original meat food. Thus, the rising popularity of pet humanization have increased the demand for North America palatants market during the forecast period.

North America Palatants Market Overview

North America palatants market is a prominent contributor as it is one of the significant markets for the pet food and animal feed industry. The US is one of the major compound feed markets in North America. This country's animal food manufacturing industry largely relies on the free-trade agreement with Canada and Mexico. In addition to this agreement, the expanding livestock industry is favoring the animal feed market progress in the US. The increasing popularity of pet ownership among people relates to love, companionship, and stress relief. The rising humanization of pets and awareness of the high nutritional benefits of pet food influence consumers' purchasing decisions. According to the National Pet Owners Survey (2021-2022) conducted by the American Pet Food Association, pet ownership increased from ~67% of US households in 2021 to 70% in 2022. Moreover, millennials were revealed to be the largest cohort of pet owners, with a share of 32%, followed closely by baby boomers (27%) and generation X (24%). Increasing awareness about the nutritional requirements of pets among pet owners is making them spend more on healthy pet food products. Key market players in North America are adopting strategic initiatives such as product launches, acquisitions, and partnerships to sustain themselves in the growing market. For instance, in June 2019, Kemin Industries Inc. launched a new line of palatants-PALTEVA Natural Palatants-to address the growing consumer demand for naturally flavoured and safe meat-based palatants. Thus, flourishing animal feed production businesses, increasing demand for pet food with growing pet humanization, and various development strategies adopted by market players are fueling the North America palatants market.

North America Palatants Market Revenue and Forecast to 2028 (US$ Million)

North America Palatants Market Segmentation

The North America palatants market is segmented into form, category, source, and country.

Based on form, the North America palatants market is bifurcated into dry and liquid. The dry segment held the larger market share in 2022.

Based on category, the North America palatants market is bifurcated into organic and conventional. The conventional segment held the larger market share in 2022.

Based on source, the North America palatants market is segmented into plant derived palatants, meat derived palatants, insect derived palatants, and others. The meat derived palatants segment held the larger market share in 2022.

Based on country, the North America palatants market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.

AFB International Inc; Archer-Daniels-Midland Co; BHJ AS; Innov Ad NV/SA; Kemin Industries Inc; Kerry Group Plc; Ohly GmbH; Symrise AG; and Trilogy Essential Ingredients Inc are the leading companies operating in the North America palatants market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America palatants market
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in North America palatants market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

Product Code: BMIRE00028039

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 North America Palatants Market - By Form
- 1.3.2 North America Palatants Market - By Category
- 1.3.3 North America Palatants Market - Source
- 1.3.4 North America Palatants Market - By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. North America Palatants Market Landscape

4.1 Market Overview
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.4 Expert Opinions

5. North America Palatants Market - Key Industry Dynamics

5.1 Market Drivers
- 5.1.1 Rising Popularity of Pet Humanization
- 5.1.2 Changing Consumer Perception Regarding Pet Health
5.2 Market Restraints
- 5.2.1 Stringent Regulatory Framework
5.3 Market Opportunities
- 5.3.1 Increasing Product Innovation
5.4 Future Trends
- 5.4.1 Increasing Consumer Preference for Clean Label Products
5.5 Impact Analysis of Drivers and Restraints

6. Palatants - North America Market Analysis

6.1 North America Palatants Market Overview
6.2 North America Palatants Market Forecast and Analysis

7. North America Palatants Market Analysis - By Form

7.1 Overview
7.2 North America Palatants Market, By Form (2021 and 2028)
- 7.2.1 Dry
- 7.2.2 Overview
- 7.2.3 Dry: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
- 7.2.4 Liquid
- 7.2.5 Overview
- 7.2.6 Liquid: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)

8. North America Palatants Market Analysis - By Category

8.1 Overview
8.2 North America Palatants Market, By Category (2021 and 2028)
8.3 Organic
- 8.3.1 Overview
- 8.3.2 Organic: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Conventional
- 8.4.1 Overview
- 8.4.2 Conventional: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)

9. North America Palatants Market Analysis - By Source

9.1 Overview
9.2 North America Palatants Market, By Source (2021 and 2028)
9.3 Plant-Derived Palatants
- 9.3.1 Overview
- 9.3.2 Plant-Derived Palatants: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
9.4 Meat-Derived Palatants
- 9.4.1 Overview
- 9.4.2 Meat-Derived Palatants: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
9.5 Insect-Derived Palatants
- 9.5.1 Overview
- 9.5.2 Insect-Derived Palatants: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
9.6 Others
- 9.6.1 Overview
- 9.6.2 Others: North America Palatants Market - Revenue and Forecast to 2028 (US$ Mn)

10. North America Palatants Market - Country Analysis

10.1 Overview
- 10.1.1 North America: North America Palatants Market, by Key Country
  - 10.1.1.1 US: North America Palatants Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.1.1 US: North America Palatants Market, By Form
    - 10.1.1.1.2 US: North America Palatants Market, by Category
    - 10.1.1.1.3 US: North America Palatants Market, by Source
  - 10.1.1.2 Canada: North America Palatants Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.2.1 Canada: North America Palatants Market, By Form
    - 10.1.1.2.2 Canada: North America Palatants Market, by Category
    - 10.1.1.2.3 Canada: North America Palatants Market, by Source
  - 10.1.1.3 Mexico: North America Palatants Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.1.3.1 Mexico: North America Palatants Market, By Form
    - 10.1.1.3.2 Mexico: North America Palatants Market, by Category
    - 10.1.1.3.3 Mexico: North America Palatants Market, by Source

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition

12. Company Profiles

12.1 Kerry Group Plc
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Archer-Daniels-Midland Co
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 AFB International Inc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 BHJ AS
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Symrise AG
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5
- 12.5.6 SWOT Analysis
- 12.5.7 Key Developments
12.6 Innov Ad NV/SA
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Kemin Industries Inc
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Fina
- 12.7.5 cial Overview
- 12.7.6 SWOT Analysis
- 12.7.7 Key Developments
12.8 Ohly GmbH
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Trilogy Essential Ingredients Inc
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Glossary of Terms