Palatants - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Palatants Market is accounted for $2.11 billion in 2019 and is expected to reach $3.49 billion by 2027 growing at a CAGR of 6.5% during the forecast period. Some of the key factors propelling the growth of the market are the rising demand for healthy pet food, increasing disposable income, and growing inclination toward pet adoption. However, the high production cost is the restraining factor for the growth of the market.
Palatants are ingredients used to enhance the food flavour in pet foods, supplements, and treats. They make the food taste and smell similar to the meat and other flavours. Their main function is to enhance the food taste so that it attracts the pets to consume foods.
By form, the dry palatants segment is expected to grow at a significant market share during the forecast period as it has enhanced palatability. Depending on the geography, North America is anticipated to hold considerable market share during the forecast period as many companies in the region are heavily investing in R&D to come up with innovative products.
Some of the key players in Palatants Market include Nestle S.A., Diana Group, Nutriad International NV, Alltech Inc, Kemin Industries, Frutarom Group, AFB International, Pancosma S.A., Darling Ingredients Inc, and Yingtan WingBiotechnology Co Ltd.
• Dry Palatants
• Liquid Palatants
• Meat Derived Palatants
• Vegetable Derived Palatants
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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