Global Palatants Market to Reach ~ US$ 3 Bn by 2027: Transparency Market Research
Mealtime is the happiest time for pets, and every pet owner want to feed quality meals that have enhanced palatability and are rich in nutrients. Around the world, the number of pets has been increasing owing to the aesthetic sense offered by pets. In addition, the sense of social comfort, company, and security are also fueling the demand for pet animals. Factors such as increasing disposable income have led the people to go in for high quality/premium pet foods. With the increasing number of pets, many pet food manufacturers are emphasizing on providing a variety of palatants to increase the consumption of feed. Palatants impart flavor to pet food, and have a deep impact on the feeding behavior of cats, dogs, and other pets, which has significantly gained traction among pet owners for welfare of their pets. Most the animal feed contain soy, corn, and grains which are blended with animal fats and coated with 0.5% to 4% of palatants to give them a meat-like flavor. Increasing regulations regarding palatants have significantly raised the standards of palatants, which has also helped in gaining increased customer satisfaction.
Global Palatants Market: Backward Integration with Organic Grain Farmers
Backward integration with farmers will help manufacturers secure the supply of organic grains, which is the raw material for organic feed. This will not only ensure the supply of organic grains, but will also help limit fluctuations in the prices of these grains, which will thus ensure the reduction in the production cost of organic feed.
Global Palatants Market: Multifaceted Attention of Key Players towards Market Growth
The demand for palatants has been increasing in sync with the rise in the number of pets around the globe. Key palatant market players conduce to ensure customer satisfaction in terms of pricing, product quality, and expected delivery time. The market for palatants is likely to showcase growth in the coming years, as such lowering the demand-supply gap and increasing the affinity for biologically-advanced products rendered by the players.
Global Palatants Market: Clear and Exclusive Information on Packages to Attract More Customers
Customers today are looking for more information on what they are feeding their pets. Hence, a package with information on particulars of the product and benefits are highly preferred by customers. Buyers spend a very short time looking at the information on the package; hence, this should be precise, exclusive, and presented clearly.
Moreover, using graphics to show pet food ingredients as well as the ingredients not present in the food is also one of the ways to provide nutritional information on pet food. Packaging design has started to include narrative illustration in the form of a story with the help of graphics.
Global Palatants Market: Growth in Nutritious Feed Demand
The growth in feed demand around the globe is predominantly due the growing demand for premium or super-premium pet food. To fulfill this primary human curb, there have been significant initiatives taken to increase the production of palatants.
The growth in palatants is affected by urbanization, expansion of the middle-class population, and purchasing power. Pet food sales have increased due to rising per capita income and increased awareness among pet owners for providing complete nutrition to their pets. In recent times, Latin America and Europe have experienced a significant increase in pet food production of around 15% and 17%, respectively. Russia, Romania, Poland, Hungary, and the Czech Republic together contributed over 580 thousand MT of pet food. Ecuador, Uruguay, Argentina, Chile, and El Salvador hold major shares in pet food production growth in Latin America. In addition, Asia Pacific’s pet food production has increased around 13%, where Thailand, China, and Taiwan are primary contributors for the growth of the market. These factors, in turn, result in the increased demand for pet feed, thereby increasing the sales of palatants around the globe.
Global Palatants Market: Segmentation
The global palatants market has been segmented according to nature, form, source, and region.
Global Palatants Market by Nature
Global Palatants Market by Form
- Dry Palatants
- Liquid Palatants
Global Palatants Market by Source
- Meat-derived Palatants
- Vegetable-derived Palatants
Global Palatants Market by Region
- North America
- Latin America
- Rest of Latin America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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