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Palatants Market Trends

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

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Palatants Market Trends

Sustainability concerns and an increasing focus on environmentally friendly practices are influencing the development of palatants in the pet food industry. Consumers are becoming more conscious of the ecological footprint of pet food production, leading to a growing demand for sustainable and ethically sourced ingredients. In response, manufacturers are exploring eco-friendly alternatives for palatants, such as plant-based or upcycled ingredients, to align with consumer preferences for environmentally responsible products. This shift towards sustainability is anticipated to shape the trajectory of the palatants industry in the coming years, driving innovation and prompting companies to adopt more sustainable practices throughout their supply chains.

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.