Palatant Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Nature (Organic, Conventional), By Form (Dry, Liquid, Powdered), By Source (Meat Based, Vegetable Based, Others), By Application (Animal Feed (Poultry, Cattle, Swine, Others), Pet Food), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2023 To 2028

The palatant market is projected to grow at a CAGR of 6.61% over the forecast period, increasing from US$1.303 billion in 2021 to reach US$2.041 billion by 2028.

In the last couple of years, the palatant market has grown significantly due to the increased number of pet owners, especially in urban areas. Moreover, palatants have gained popularity in recent times due to increased awareness about pet palatability, research and development in these fields, innovative products, recent product launches by major companies, and increased impactful marketing campaigns. Additionally, rising pet parenting, raising awareness of feeding pets with premium and packed pet food, and increased concern from pet owners to provide health and nutrition are expected to boost the market for organic, premium, and custom-made products.

Increasing Pet Humanization

Pet owners treat their pets as family members, and they are concerned about the food provided to them. Palatants play an important role as they improve the taste, smell, and texture of pet food, and moving to these features, the market is expected to move in an upward curve. The increase in investment in the market by major players is helping the market to grow. For instance, in May 2022, Kemin launched two new products called Palasurance A D370-380 liquid and Palasurance C75-90 dry. The A DC70-380 is a salmon-based liquid canine and feline palatability enhancer. It was developed to improve the performance of dogs and cats, and the other product is specific to cat foods and treats.

Increasing Pet Population

According to APPA, the number of households owning dogs as a pet is the highest. The population in the U.S. is 69 million, followed by cats at 45.3 million and freshwater at 11.8 million. The number of pets is increasing yearly in the U.S., and a similar growth can also be seen in other countries. As the number of pets increases, there is also expected to be an increase in the palatants market, owing to the benefits these plants provide to the pets.

Cattle Segment is Expected to Grow Significantly

The cattle segment is anticipated to have a significant market share by 2028, primarily driven by growing demand for high-quality and nutritious animal feed due to the increasing awareness among livestock owners about the importance of animal health and nutrition. Therefore, the rising demand for nutritious animal feed, driven by growing awareness of animal health, population growth, and rising incomes, has led to a need for innovative solutions like palatants to improve feed efficiency and palatability. The focus on animal welfare and safety has also boosted the adoption of natural and additive-free palatants.

Expanding Poultry Sector

The global volume of poultry exports is on the rise, propelled by the growing world population's demand for protein-rich foods and increased awareness about the nutritional benefits of poultry products. This trend is driven by higher domestic consumption and increased international trade opportunities. For instance, the USDA released a report on World Agricultural Supply and Demand Estimates outlining projections for global poultry exports from 2021 to 2031. According to this report, exported poultry is expected to increase by approximately 25%. For instance 2021, around 13 million metric tons of poultry were exported. However, by 2031, this figure could rise to about 16 million metric tons. This suggests that there will be a growing amount of poultry exports to different countries in the upcoming years.

North America is Expected to Grow Significantly

The bolstering growth for palatant is due to the rise in pet ownership, growing demand for high-quality pet food products, and a heightened awareness of the significance of palatability in ensuring proper pet nutrition. Consumers are increasingly demanding high-quality animal feed that is nutritious and palatable. Additionally, the joint venture between the U.S. Poultry & Egg Association (USPOULTRY) and the USA Poultry & Egg Export Council (USAPEEC) to expand their facilities through "The Coop Group, LLC" demonstrates a clear commitment to the growth and advancement of the poultry industry. This expansion is likely to spur increased demand for palatability-enhancing ingredients in pet food and animal feed formulations to cater to the growing needs of the poultry sector in the USA.

Major Market Player

• ADM is one of the global leaders in providing palatant solutions to its consumers as a part of its food, pet, and animal nutrition. Headquartered in Chicago, Illinois, the company has a presence on over six continents and had net sales in 2020 worth US$64 billion. The company has its brand for feed additives and palatants, namely Pancosma, which evaluates all its palatant creations and animal trials to offer the best solutions in the marketplace. Pancosma has multifunctional palatants under the MAGNASWEET brand, combining Sucram and flavors in a 2 in 1 product.

Market Developments:

• In November 2022, ADM, a global leader in the human and pet nutrition market, announced the launch of two new products under its SUCRAM range. SUCRAM M’I and SUCRAM Specifeek are two sweeteners designed to improve feed palatability for young animals, particularly weanling pigs.
• In April 2023, Zoetis announced the launch of its new palatant product, Zoetis Palatant. Zoetis Palatant is a natural palatant made from amino acids and nucleotides. It is designed to improve the palatability of animal feed and increase feed intake.

Palatant Market Scope:

Market Segmentation:

• By Nature
  • Organic
  • Conventional
• By Form
  • Dry
  • Liquid
  • Powdered
• By Source
  • Meat Based
  • Vegetable Based
  • Others
• By Application
  • Animal Feed
    • Poultry
    • Cattle
    • Swine
    • Others
  • Pet Food
• By Distribution Channel
  • Online
  • Offline
• By Geography

• • North America
    • By Nature
    • By Form
    • By Source
    • By Application
    • By Distribution Channel
    • By Country
      • United States
      • Canada
      • Mexico
  • South America
    • By Nature
    • By Form
    • By Source
    • By Application
    • By Distribution Channel
    • By Country
      • Brazil
      • Argentina
      • Others
  • Europe
    • By Nature
    • By Form
    • By Source
    • By Application
    • By Distribution Channel
    • By Country
      • Germany
      • France
      • UK
      • Spain    
      • Others
  • Middle East and Africa
    • By Nature
    • By Form
    • By Source
    • By Application
    • By Distribution Channel
    • By Country
      • Saudi Arabia
      • South Africa
      • Others
  • Asia Pacific
    • By Nature
    • By Form
    • By Source
    • By Application
    • By Distribution Channel
    • By Country
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others