, April 27, 2018 ) The North America Market is Feed Palatability Enhancers & Modifiers
expected to reach USD 0.76 billion by 2021 from USD 0.63 billion in 2016, growing at a CAGR of 3.81%. The Feed Palatability Enhancers & Modifiers market is forecasted to show great potential over the mentioned period. The market has continued to gain momentum with the increase in the consumption of meat all over the world and has therefore got specific attention from various manufacturers of Feed additives such as flavours, sweeteners and texturants.
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Feed Palatability Enhancers & Modifiers are used for overcoming the smell and bitter taste of feed which is due to feed additives, which are good for animal health and thus necessary. Sweeteners and Flavours are thus used to neutralize the taste and smell. Palatability includes mold control, better shelf life and oxidation in animal feed.
The rise in demand for healthy and safe human food as well as mass meat production have caught attention of different feed additives manufacturers. It has resulted in an immense growth in the market recently. Other drivers for the market growth are consumer awareness about meat quality, increased demand for feed, rise in meat consumption and the quality of pet food which is major concern. The market also faced some restraints and challenges. Some of the major ones are rise in cost of raw materials and harmful effects related to ingredients. These factors have been the reason for holding back the market from reaching its actual potential.
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The North America Feed Palatability Enhancers & Modifiers market is segmented by type and livestock. The market segmentation based on type is done into sweeteners, texturants and flavours which all are then further divided in natural and synthetic. The market share was dominated by the natural products because of the health related concerns with synthetic products. Based on segmentation by livestock the market is categorized into swine, cattle, poultry, aquaculture, pet foods and other livestock. The segment cattle, accounted for the biggest share in the market on the basis of livestock due to increase in cattle meat production in recent years and is expected to grow even further. On the basis of geography, the North America market is analysed under various regions namely United States and Canada.
Some of the major companies dominating the market, by their products and services include Diana Group, Associated British Foods PLC, E. I. Dupont, Ensign-Bickford Industries Inc., Eli Lilly and Company, Kemin Europa, Ferrer, Kerry Group PLC, Kent Feeds Inc., Tanke International Group.
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