Global Feed Palatability Enhancers Market

Description

Feed Palatability Enhancers are generally used to overcome the bitter taste and smell of animal feed because of the usage of feed additives, which are essential for animal health, and hence are necessary. The unpleasant smell and taste are neutralized using the flavours and sweeteners. Palatability includes mold control, oxidation and better shelf life for the animal feed. These enhancers help to maximise feed intake masking the unpleasant taste, odour, providing better taste, flavour and aroma making the fodder preferable and thus, enhancing the health of animals.Since the global feed palatability market may also be regarded as an ancillary market to the domesticated meat animals and animal feed market, it closely follows the demand for both.

Market Dynamics

One of the chief drivers of demand for feed palatability enhancers is the rising demand for animal proteins with increasing income levels across the world, especially in the developing economies, fuelling the consumption of animal proteins, as the consumption of egg, meat and milk grow at the expense of other staple foods and Urbanization, with city dwellers proven to have an assorted diet rich in animal proteins and fats, compared to the relatively unsophisticated diet of rural population. The market for global feed palatability enhancers is also driven by a host of other factors like rise in global consumption of meat, increase in the demand of good quality meat, rising awareness relating to the use of feed detoxifiers amongst farmers calling for increased use of feed palatability enhancers, industrialization of the livestock industry, growing emphasis on animal healthcare, rising focus on animal feed quality,rising concern of quality of pet food and technological innovation. Rise in prices of raw materials and the adverse effects of the ingredients on the environment are some of the factors inhibiting the growth of the market.

Market Segmentation

The market for global feed palatability enhancers can be segmented on the basis of product into:
• Natural Enhancers
• Synthetic Enhancers

The market can also be segmented on the basis of application into
• Poultry
• Swine
• Cattle
• Pets
• Aquaculture
• Others

It can also be segmented on the basis ofgeography into
• Americas
• EMEA
• Asia-Pacific

Regional/Geographic Analysis

Asia-Pacific
The Asia-Pacific market is projected to witness the highest growth rate in terms of volume over the forecast period due to increased meat consumption owing to the regions rapidly growing population, burgeoning middle-class, increasing disposable incomes resulting from rising per-capita income, and rapid urbanization making it an important market for feed palatability enhancers.

Americas
The North American market dominates the global feed palatability enhancers market due to traditionally high levels of meat consumption and high preference for poultry and meat products, better understanding amongst farmers regarding their application in feed additives, rising awareness of pet owners about the quality products and the presence of major industry players in the region.

EMEA
Poultry feed palatability enhancers constitutes the largest application segment in terms of market share, whereas Aquafeed and pet are forecasted to witness the highest growth. The market in Europe has stagnated in recent years because of strict environmental regulations and other factors such as productivity and cost of animal feed.

Key Players

Some of the key players in this market are DuPont, Eli Lilly and Company, Kent Feeds, Ensign-Bickford Industries Inc., Ferrer, Associated British Foods, Tanke International Group, Kemin Europa, Kerry Group PLC.