Business

Global Feed Palatability Enhancers Modifiers Market to Register a Moderate CAGR During the Forecast Period

In the past few years, the feed palatability enhancers and modifiers market has been growing at a steady rate. The bitter taste of vitamins, minerals and other medicines can be minimized by adding palatability enhancers to the animal feed. It increases the intake of feed by animals. In addition, palatability enhancers also provide shelf life stability to the product. Feed palatability enhancers and modifiers have gained a good position in the feed supplements as they are highly influential in the development of animal feed industry. By adding feed palatability enhancers and modifiers to the animal feed the sweetness of animal feed is increased, thus increasing the feed intake in animals. Feed palatability enhancers and modifiers not only help in minimizing the bad taste of animal feed, but also in improving health of livestock.

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Feed palatability enhancers and modifiers market can be segmented by types into: natural and synthetic. Feed palatability enhancers and modifiers market can be segmented by livestock into: cattle, poultry, pet and others.

Asia Pacific represents the largest market for feed palatability enhancers and modifiers globally due to the rise in animal health concerns and growing demand for animal feed in the region. The North American feed palatability enhancers and modifiers market is also growing rapidly due to the rising awareness of pet owners about the quality products and regarding the chemicals used in the animal feeds. The European feed palatability enhancers and modifiers market has become stagnate in the past few years due to strict regulations and factors such as cost and productivity of animal feed. These are the major factors hampers the growth of the feed palatability enhancers and modifiers market in the region.

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Increasing consumer awareness about quality of meat, rising demand for animal feed, rising concern of quality of pet food and rise in global meat consumption are some of the major driving factors for feed palatability enhancers and modifiers market. Rise in the cost of raw materials and harmful effects of ingredients acts major restraints for feed palatability enhancers and modifiers market.

The major companies operating in the feed palatability enhancers and modifiers market include Associated British Foods PLC, Diana Group, Eli Lilly and Company, Ensign-Bickford Industries Inc., Ferrer, Kemin Europa, Kent Feeds Inc., Kerry Group PLC and Tanke International Group.

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