Global Palatants Market – Industry Trends and Forecast to 2030

Palatants Market Analysis and Size

Last few decades, it has witnessed a remarkable increase in the number of pet owners, mainly in urban regions globally. Palatants play a significant role in improving the taste, smell and texture of the pet food owing to which the demand endures to move in the upward curve. Numerous premium and top-tier players involved in the palatants market are investing substantial resources in research and development activities to determine and evaluate the most effective processing and manufacturing technique. In recent times, research and development activities with numerous flavor enhancers have augmented at a speedy pace which is another factor that is anticipated to increase the palatants market growth in the forecast period.

Data Bridge Market Research analyses that the palatants market is expected to reach USD 1860.85 million by 2030, which is USD 1296.57 million in 2022, registering a CAGR of 4.62% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.     

Palatants MarketScope and Segmentation

Market Definition

Palatants are those components that are specially designed to make treats, pet foods, and supplements taste better, confirming that pets receive the impotent nutrients they require. Palatants entice a pet to consume a treat, food or supplement that, though nutritious, may vary with their native diet.

Palatants Market Dynamics

Drivers

• Increasing consumer awareness regarding claims

In the global pet food market, numerous manufacturers collaborate with other research businesses to produce special palatants to instruct the diet claims in their final products. Diet claims that mostly appeal pet food owners are grain-free, natural, and organic, where 'natural' is the prominent claim in the pet food sector that has considerably augmented the demand for the natural palatants in the pet food sector. Adding high amounts of specific and functional nutrition in pet food results in off-tasting final products. To overcome this unpleasant taste, manufacturers commonly use large amounts of palatants per governing laws. Thus, increasing consumer awareness regarding claims is anticipated to drive the market growth.

• Increasing demand of plant-based palatants

Research and development activities are expected to play a significant role in the growth of the global palatants market. In the last few years, many plant-based dog and cat food palatants have entered the market owing to the increasing safety concerns associated with animal-based palatants. Numerous major companies operating in the present palatants market are progressively inclined toward manufacturing plant-based palatants. Therefore, increasing demand of plant-based palatants is anticipated to boost the market growth rate.

Opportunities

• Increased Pet Humanization

In the global pet market, pet owners treat their pets as family members, and they are more worried about their pets' food, nutrition and eating habits. People love their pets due to many reasons, for instance they see them as a source of unconditional positive regard and security. Pet humanization is also known as anthropomorphism which has become a very popular expression in the pet food sector because several pet owners pursue to offer human-like products to their pets. As per the survey of 2017-2018 which has done by American Pet Products Association (APPA), around 28% dog owners have celebrated birthday of their pups. The buzz of humanization is on the growth, and some industries are investing to increase vibrant palatants in pet food. Companies such as bistro, Merrick Pet Care chose gourmet, and banquet to describe their dog and cat food. Furthermore, AFB International has created numerous palatants that make pet food more interesting to companion pets and their owners.

Restraints/ Challenges

• High capital prices and investments

Increased capital expenditures for pet food production will slow the market's expansion. Another important aspect that will function as a significant market limitation and further challenge the market's growth rate is the high cost of the equipment and machinery used to manufacture and manufacture these items.

• Lack of standardized procedures

The rules and regulations pertaining to the secure delivery of nutritional content to animals may have a substantial long-term impact on the price, supply, and sales of pet food. The lack of a uniform structure may have an effect on a region's product sales. These elements are thought to pose a threat to market expansion during the projection period.

This palatants market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the palatants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Covid-19 Impact on Global Palatants Market

In the projected short-term impact of the COVID-19 pandemic on the offline sales of palatants, the market growth is expected to stay less than that of 2019. Some of the major factors that are estimated to have an impact on the prospects of the palatants market are transportation restrictions, and severe lockdown rules and regulations in numerous parts of the world. Although the research side of the business will probably not change, a number of unique and high-quality products are now being developed. As the COVID-19 event continues, internet sales are anticipated to climb steadily while offline sales are likely to stay modest. Furthermore, China, a significant supplier of organic soybeans, has made it difficult for organic feed manufacturers worldwide because of its harsh measures to combat the COVID-19 pandemic. Additionally, the shipping of additional micro-ingredients in China was hampered by logistical problems, which also had an impact on the availability of containers and boats.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Palatants Market Scope

The palatants market is segmented on the basis of nature, form, source and end-use application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Nature

• Organic
• Conventional

 Form

• Liquid Palatants
• Dry Palatants

Source

• Vegetable Derived Palatants
• Corn
• Soy
• Potato
• Specialty Grains
• Meat Derived Palatants
• Poultry
• Pork
• Fish

End-use Application

• Bovine
• Swine
•  Poultry
• Fish/Aquaculture
•  Pet Food

 Palatants Market Regional Analysis/Insights

The palatants market is analyzed and market size insights and trends are provided by country, nature, form, source and end-use application as referenced above.

The countries covered in the palatants market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the palatants market in terms of revenue and market share owing to the increase in the popularity of pet ownership related to companionship, love and stress relief amongst the population. Moreover, the development of the health and endurance of their pets will further increase the market growth in this region.

Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the occurrence of major market players. Furthermore, the increase in the demand for pet food which is increasing the requirement for palatants is further expected to drive the growth of the market in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Palatants Market Share Analysis

The palatants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to palatants market.

Some of the major players operating in the palatants market are:

• Kemin Industries Inc. (U.S.)
• Adisseo (China)
• Roquette Frères (France)
• Chr. Hansen Holding A/S (Denmark)
• Darling Ingredients (U.S.)
• Barentz (Netherlands)
• The Peterson Company (U.S.)
• Omega Protein (U.S.)
• APS Phoenix LLC (U.S.)
• BIORIGIN APS (U.S.)
• LaBudde Group Inc. (U.S.)
• Nestle S.A. (Switzerland)
• The Scoular Company (U.S.)
• AFB International (U.S.)
• Alltech (U.S.)
• Nutricare (India)
• Pancosma (Switzerland)
• IGUSOL S.A. (Spain)
• DSM (Austria)

SKU-46563