The Global Pet Food Palatants market has an estimated market valuation of USD 2,348.3 million by 2024 and is projected to grow at a CAGR of 5.2% to reach a market valuation of USD 3,898.6 billion by 2034.
The mounting curve of pet ownership around the world will bolster the sales of Pet Food Palatants to hit the roof of the sky. As the pets age, they become prone to multiple health concerns. Thus, it becomes required for pet guardians to look for diets that help their woolly family members maintain overall health. Professional recommendations are influencing and driving market sales.
Pet parents are constantly seeking for more sustainable products that are meeting the protein demands of their family members. Labels such as “green protein”, “green meat” etc. attract consumer attention within a crowded marketplace, thus helping with high sales.
Brands must use competitive pricing strategies such as promotion, and seasonal discounts to achieve a higher market share. Alongside, the subscription model of selling such diets is likely to bolster the market in the forecast period of 2024 – 2034. These factors, combined, point to a significant growth in the Pet Food Palatants market.
The global industry is witnessing an increasing demand for specialized palatants enriched with targeted nutrients, catering to diverse purposes such as dental health chews, immune-boosting supplements, and other treats. These unique palatants are crafted to enhance both flavor and nutritional value in various animal feed formats, addressing specific dietary needs and preferences. Manufacturers are innovating with ingredients that offer functional benefits like joint support, improved skin and coat health, and digestive aids.
Key Takeaways from the Global Pet Food Palatants Market Study:
- Demand for Natural Ingredients with Quality Taste and Nutrition Rising.
- Across the globe, there is a rising global demand for clean-label solutions in palatants, which are based on consumer preferences concerning healthiness and transparency.
- The global industry is currently experiencing a rise in the popularity of specialized palatants enriched with specific nutrients meant to serve various purposes including chews (dealing with teeth), supplements (which boost immunity), or treats among others.
- Rapid expansion of pet-specialty stores and e-commerce platforms.
“Brands that deliver convenience, value, and quality to pet owners at competitive prices will have a competitive advantage and emerge as a leader in the industry.”, says Nandini Roy Choudhury, Client Partner at Future Market Insights.
Who is winning?
Companies that can meet consumer preferences are coming up with new technologies to overcome the challenges in production while maintaining the appropriate quality are likely to be the top players. Various players are catching consumer trends and innovating creative products to keep them competitive in the market.
- In August 2023, Symrise AG Company the leading manufacturer inaugurated a new state-of-the-art production facility in Brazil to increase their production for dog and cat palatants and expand in Latin America.
- In February 2024, Kemin Industries opened a palatants-producing plant in Santa Catarina, Brazil. According to the company, it is the largest plant in terms of volume capacity to produce dry and liquid palatants. Furthermore, the company strategically opened a research and innovation center to boost its production capacity.
Some of these leaders of the Global Pet Food Palatants market are Kemin Industries, Inc., AFB International, Ohly, Lyka, BRF Ingredients, Symrise, DSM, ADM, Profypet, Trilogy Flavors, Susheela Group, Kerry Group plc and others
Full Report URL: https://www.futuremarketinsights.com/reports/pet-food-palatants-market
Get valuable insights into the Global Pet Food Palatants Market:
In its new offering, Future Market Insights provides a thorough, detailed, and unbiased analysis of the Global Pet Food Palatants Market, presenting Historical Demand data for 2019-2023 and Forecast statistics for 2024-2034. The study categorizes valuable insights on the Global Pet Food Palatants Market based on Nature, form, Pet type, Application, Claims, and Region. By Nature (Animal and Plant Based) As per Pet Type, the market has been categorized into Cats (Kitten, Senior), Dogs (Puppy, Adult, and Senior), Birds, and Others. As per Form, the market is categorized dry and wet. As per Application, the market is categorized into Daily Based Food, Treats, Chews, and Supplements. Different Claims include grain-free, low-fat, non-GMO, and low in calories.
Key Segments of the Report
By Form:
In this segment, the industry has been categorized into dry and wet
By Nature:
The nature segment has been categorized into Animal Based and Plant Based
By Pet Type:
Pets such as Cats (Kitten, Senior), Dogs (Puppy, Adult, and Senior), Birds, and Others are included in the report.
By Application:
In this segment, the industry has been categorized into Daily Based Food, Treats, Chews, Supplements
By Claims:
Various claim types such as grain-free, low-fat, non-GMO, and low in calories are included in the report.
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia, and Oceania
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