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, Pet Food), By Distribution Channel (Introduction, Online, Offline), And By Geography - Forecasts From 2021 To 2026

Published:  Oct 2021 Report Code: KSI061613914 Pages: 152

The palatant market is projected to witness a compound annual growth rate of 6.94% to grow to US$1.801 billion by 2026, from US$1.126 billion in 2019. The market is expected to surge in the coming years, due to the increasing population of bovine animals, and the growing adoption of pets, worldwide. There had been an exponential surge in the adoption of companion animals, especially in the Europe and North American regions. The growing urban population and disposable income are also expected to play a major significant role in the market growth, during the forecast period. According to the World Bank, 68% of the global population is expected to reside in urban areas by the year 2050. Moreover, increasing the population of farm animals, and increasing their overall output and productivity, the farm animal owners have been using high-quality ingredients and food products for their animals.

According to the data given by the Food and Agriculture Organization, there had been around 980 million cattle population, worldwide, in the year 2020. Major companies have been making significant developments in the market, in the past few years. In July 2021, Diana Pet Food, a Symrise subsidiary, announced the opening of its novel food palatant manufacturing factory and unit in China. The novel unit has been located in Chuzhou, Anhui Province, and has been the first plant in the Asia Pacific region to host a measurement and spray dryer center for powdered palatant solutions. Other players have also been making significant developments in the market. The rise in the adoption of pets, especially in India and China is expected to play a major role in the market growth. The demand for organic palatant is also expected to surge, in the coming years, as animal owners have been providing high quality and nutritious food content to their animals. These trends and developments are expected to have a positive impact on market growth, in the coming years.

The increasing adoption of companion animals is expected to drive the demand in the market during the forecasted period.

The market is expected to surge in the coming years, due to the rising adoption of companion animals, worldwide. According to the data given by the American Society for the Prevention of Cruelty Animals, there are around 85.8 million cats and 78 million dogs owned in the United States. Moreover, around 3.2 million shelter animals in the United States are adopted every year. According to the American Pet Products Association, pet food and treat sales in the United States surge 9.7% in the year 2020 and added US$3.7 billion for a total of around US$42 billion for the same year.  Europe has also been expected to play a major role in the market growth. According to the data given by the European Pet Food Industry, there were around 88 million households that own a pet in the year 2020. Moreover, annual sales of pet food products have been around 21.8 billion euros. China has been registering significant growth in the market. For instance, according to the data given by the Chinese Government, the country had 99.15 million pets in the year 2020. Major companies have been making significant developments in the market. For instance, in October 2020, Kerry Inc. announced that its latest and novel plant-based palatant product, known as PurePal, had been designed to provide aroma and flavor to both pets and their owner's demands. The company had started its product has been making a significant impact in the market. In June 2019, Kemin Nutrisurance, announced the introduction of PALTECA, a novel line of natural dog food palatants. These developments are expected to play a major role in the market.

COVID-19 Impact On Palatant Market

The COVID-19 pandemic has had a positive impact on the palatant market. The pandemic induced a chain reaction of lockdowns, restricting people’s movement and confining them to their homes. These restrictive measures were taken by the governments to contain the community spread of the COVID-19 infection. Because of people being in their homes alone for an extended period, the pet-adoption rates increased manifold in 2020. 

Puppy adoption rates went up between 50 – 100% and cat adoption rates by 40% in 2020. Subsequently, the demand for pet products, especially pet food has risen during the same time. This has given rise to the sudden spike in the palatant market in 2020. However, as the impact of the pandemic subsides, the number of new pets adopted is likely to decrease again, as people won’t be confined to their homes anymore. But the new pets adopted during the pandemic are expected to create additional consistent demand for palatants in the future. As a result, the palatant market is expected to witness a moderate settling down to the pre-pandemic levels, with the gap between the COVID and no-COVID scenarios gradually declining on a year-on-year basis, in the latter half of the forecast period.

Palatant Market Scope:

Report Metric Details
 Market size value in 2019  US$1.126 billion
 Market size value in 2026  US$1.801 billion
 Growth Rate  CAGR of 6.94% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Nature, Form, Source, Application, Distribution Channel, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Kemin Industries Inc., AFB International, Diana Pet Food (Syrise), Trilogy Essential Ingredients Inc., Ohly (ABF Ingredients), Innovad SA, United Pet Food, Essentia, ADM, Syndel, Kerry Inc.
 Customization scope  Free report customization with purchase

Key Market Segments

  • BY NATURE
    • Organic
    • Conventional
  • BY FORM
    • Dry
    • Liquid
    • Powdered
  • BY SOURCE
    • Meat Based
    • Vegetable Based
    • Others
  • BY APPLICATION
    • Animal Feed
    • Pet Food
  • BY DISTRIBUTION CHANNEL
    • Introduction
    • Online
    • Offline
  • BY GEOGRAPHY
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Arhentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • Spain
      • France
      • Others
    • Middle East and Africa
      • UAE
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the palatant market size by 2026?
A1. The palatant market is expected to reach a total market size of US$1.801 billion in 2026.


Q2. What are the growth prospects for the palatant market?
A2. The global palatant market is expected to grow at a CAGR of 6.94% during the forecast period.


Q3. What is the size of the global palatant market?
A3. Palatant Market was valued at US$1.126 billion in 2019.


Q4. What factors are anticipated to drive the palatant market growth?
A4. The palatant market is expected to surge in the coming years, due to the increasing population of bovine animals, and the growing adoption of pets, worldwide.


Q5. How is the global palatant market segmented?
A5. The global palatants market has been segmented by nature, form, source, application, distribution channel, and geography.

1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation


2. RESEARCH METHODOLOGY  
2.1. Research Data
2.2. Assumptions


3. EXECUTIVE SUMMARY
3.1. Research Highlights


4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis


5. PALATANT MARKET BY NATURE 
5.1. Introduction
5.2. Organic
5.3. Conventional


6. PALATANT MARKET BY FORM 
6.1. Introduction
6.2. Dry 
6.3. Liquid
6.4. Powdered


7. PALATANT MARKET BY SOURCE
7.1. Introduction
7.2. Meat Based
7.3. Vegetable Based
7.4. Others


8. PALATANT MARKET BY APPLICATION 
8.1. Introduction
8.2. Animal Feed
8.3. Pet Food


9. PALATANT MARKET BY DISTRIBUTION CHANNEL
9.1. Introduction
9.2. Online
9.3. Offline


10. PALATANT MARKET BY GEOGRAPHY 
10.1. Introduction
10.2. North America
10.2.1. North America Palatant Market, By Nature, 2019 to 2026
10.2.2. North America Palatant Market, By Form, 2019 to 2026
10.2.3. North America Palatant Market, By Source, 2019 to 2026
10.2.4. North America Palatant Market, By Application, 2019 to 2026
10.2.5. North America Palatant Market, By Distribution Channel, 2019 to 2026
10.2.6. By Country
10.2.6.1. United States
10.2.6.2. Canada
10.2.6.3. Mexico
10.3. South America 
10.3.1. South America Palatant Market, By Nature, 2019 to 2026
10.3.2. South America Palatant Market, By Form, 2019 to 2026
10.3.3. South America Palatant Market, By Source 2019 to 2026
10.3.4. South America Palatant Market, By Application, 2019 to 2026
10.3.5. South America Palatant Market, By Distribution Channel, 2019 to 2026
10.3.6. By Country
10.3.6.1. Brazil
10.3.6.2. Argentina
10.3.6.3. Others
10.4. Europe 
10.4.1. Europe Palatant Market, By Nature, 2019 to 2026
10.4.2. Europe Palatant Market, By Form, 2019 to 2026
10.4.3. Europe Palatant Market, By Source, 2019 to 2026
10.4.4. Europe Palatant Market, By Application, 2019 to 2026
10.4.5. Europe Palatant Market, By Distribution Channel, 2019 to 2026
10.4.6. By Country
10.4.6.1. Germany
10.4.6.2. France
10.4.6.3. UK
10.4.6.4. Spain
10.4.6.5. Others
10.5.  Middle East and Africa
10.5.1. Middle East and Africa Palatant Market, By Nature, 2019 to 2026
10.5.2. Middle East and Africa Palatant Market, By Form, 2019 to 2026
10.5.3. Middle East and Africa Palatant Market, By Source, 2019 to 2026
10.5.4. Middle East and Africa Palatant Market, By Application, 2019 to 2026
10.5.5. Middle East and Africa Palatant Market, By Distribution Channel, 2019 to 2026
10.5.6. By Country
10.5.6.1. Saudi Arabia
10.5.6.2. South Africa
10.5.6.3. Others
10.6.  Asia Pacific 
10.6.1. Asia Pacific Palatant Market, By Nature, 2019 to 2026
10.6.2. Asia Pacific Palatant Market, By Form, 2019 to 2026
10.6.3. Asia Pacific Palatant Market, By Source, 2019 to 2026
10.6.4. Asia Pacific Palatant Market, By Application, 2019 to 2026
10.6.5. Asia Pacific Palatant Market, By Distribution Channel, 2019 to 2026
10.6.6. By Country
10.6.6.1. China
10.6.6.2. India
10.6.6.3. Japan
10.6.6.4. South Korea
10.6.6.5. Taiwan
10.6.6.6. Thailand
10.6.6.7. Indonesia
10.6.6.8. Others


11. COMPETITIVE ENVIRONMENT AND ANALYSIS
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix


12. COMPANY PROFILES
12.1. Kemin Industries Inc.
12.2. AFB International
12.3. Diana Pet Food (Syrise)
12.4. Trilogy Essential Ingredients Inc.
12.5. Ohly (ABF Ingredients)
12.6. Innovad SA
12.7. United Pet Food
12.8. Essentia
12.9. ADM
12.10. Syndel
12.11. Kerry Inc.

Kemin Industries Inc.

AFB International

Diana Pet Food (Syrise)

Trilogy Essential Ingredients Inc.

Ohly (ABF Ingredients)

Innovad SA

United Pet Food

Essentia

ADM

Syndel

Kerry Inc.

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