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Palatants Market Share

Report ID: GMI8275
Published Date: Feb 2024
Report Format: PDF

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Palatants Market Share

The competitive landscape of the palatants industry is characterized by intense competition among key players like Kerry Group, ADM, Symrise AG, Nestle SA and Kemin Industries AG are striving to gain a larger market share of over 40% through product innovation, strategic partnerships, and expansion strategies. Several multinational companies dominate the market, leveraging their extensive distribution networks, brand recognition, and research capabilities to maintain a competitive edge. These industry giants invest heavily in research and development to develop novel palatant formulations that meet evolving consumer preferences for taste, texture, and nutritional value.

Competition ranges from premium pricing by established players with strong brands to cost-effective offerings by regional and emerging players. An acquisition strategy enables a company to enter new markets and product lines instantaneously with a recognized brand having a good reputation and an existing client base. An acquisition can overcome market entry barriers that were previously challenging.

Palatants Market Companies

Major players operating in the market include:

Kerry Group
ADM
Symrise AG
Kemin Industries Inc.
Nestle SA
Diana Group
Alltech Inc
Pancosma SA
Darling Ingredients
AFB International
Nutriad International NV
Frutarom Group
BHJ A/S

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for palatants reached USD 1.4 billion in 2023 and is set to expand at over 6% CAGR between 2024 and 2032 owing to the rising demand for premium and customized pet food products.

Palatants industry from the dry form segment generated more than USD 750 million in revenue in 2023 owing to their convenience and longer shelf life compared to liquid forms.

U.S. market for palatants generated over USD 370 million in revenue in 2023 and is estimated to expand at a notable CAGR from 2024-2032 as the pet owners in the region are increasingly treating their pets as family members, further surging the demand for premium pet food products.

Some of the leading palatant providers are Kerry Group, ADM, Symrise AG, Kemin Industries Inc., Nestle SA, Diana Group, Alltech Inc, Pancosma SA, Darling Ingredients, AFB International, Frutarom Group, and BHJ A/S.