Optimizing Animal Nutrition: Global Insights on Feed Palatability Enhancers

The Business Research Company's Feed Palatability Enhancers Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 19, 2024 /EINPresswire.com/ -- The feed palatability enhancers market size has grown steadily in recent years. It will grow from $5.55 billion in 2023 to $5.77 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to increasing demand for high-quality animal feed, rising pet population, growing demand for natural and organic palatability enhancers, increasing livestock production, and rising income.
The feed palatability enhancers market size is expected to see steady growth in the next few years. It will grow to $6.61 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to increasing pet population, growing demand for natural and organic palatability enhancers, increasing livestock production, and the incorporation of technology. Major trends in the forecast period include continued market expansion, rising technology integration, growing demand for natural and organic palatability enhancers, and innovations in formulations and technologies for palatability enhancers.

Increase in Livestock Farming Drives Market Growth

The increase in livestock farming is expected to propel the growth of the feed palatability enhancers market going forward. Livestock farming involves breeding, raising, and managing domesticated animals for various purposes, including food production. As global incomes rise, there is a growing consumption of animal products, leading to increased demand for livestock production. Feed palatability enhancers play a crucial role in improving the taste, aroma, and overall acceptance of animal feed, thereby encouraging higher feed intake. For instance, in May 2023, according to the Government Digital Service, the value of livestock produced in 2022 totaled $24.63 billion, marking a $3.45 billion (16.2%) increase from 2021.

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Major Players and Market Trends

Major companies operating in the feed palatability enhancers market are actively developing innovative solutions, such as in-feed sweetening solutions, to stimulate market demand. These solutions target sweet taste receptors, enhancing feed intake especially during critical stages like weaning. For example, in November 2022, The Archer-Daniels-Midland Company launched scram mi sweet and specified in-feed sweetening solutions tailored for swine, aiming to boost feed intake and support nutritional needs during pivotal developmental phases.

Segments

Product Type: Flavors, Sweeteners, Aroma Enhancers, Texturants
Origin: Natural, Synthetic
Application: Overview, Poultry, Pets, Aquaculture

Geographical Insights: North America Leads, Asia-Pacific to Grow Rapidly
North America dominated the feed palatability enhancers market in 2023. However, Asia-Pacific is anticipated to emerge as the fastest-growing region in the forecast period. The comprehensive report offers detailed insights into regional dynamics, market trends, and growth opportunities.

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Feed Palatability Enhancers Global Market Report 2024 from TBRC covers the following information:

Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Feed Palatability Enhancers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on feed palatability enhancers market size, feed palatability enhancers market drivers and trends, feed palatability enhancers market major players, competitors' revenues, market positioning, and market growth across geographies. The feed palatability enhancers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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