Impact of Outbreak of COVID-19 on Palatants Market
A recent study published by Transparency Market Research on the palatants market includes global industry analysis and opportunity assessment for 2020-2030. The revenue generated from the global palatants market was valued at ~US$ 2.5 Bn in 2020, which is estimated to rise at a CAGR of 3.9%, to reach US$ 3.7 Bn by 2030.
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Pet Food Quality Directly Proportionate to Frequency of Purchase
The technical expansion into the palatants market has largely influenced customer behavior. Often expected to be influenced by the growing usage of marketplace palatability enhancers is the pace of purchasing and the bulk amount purchased at a time. When the product seems to bring profitable results, buyers are more likely to buy a product in bulk. Palatants are specifically developed for the preparation of pet foods, supplements, and therapies, thereby making them tastes better for pets. These factors are projected to improve palatants sales on the global market.
Backward Integration with Organic Grain Farmer
Organic food has become quite popular in the pet food industry, and not only in the human food industry. Strategic alliance with farmers will help producers secure a constant supply of natural grains, which is the natural feed raw material. This will not only guarantee the supply of organic grains, but will also assist to limit variability in grain prices, which will, thus, ensure a decline of the organic feed production costs to help owners to meet the growing demand for organic pet food.
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Plant-based (Vegan) Diets for Pets to Push Use of Vegetable-derived Palatants
Dog owners are gradually believing their pets are part of their families. Companion animals offer pleasure, warmth, and unconditional affection, and parents of pets are likely to invest in quality and taste that is equal to what they feed on. Hence, this leads to increased emphasis on balanced feed diets for pets. Within the pet food market, plant and vegetarian food flavors and nutrient enhancers have been launched providing a possible solution to the moral dilemma posed by vegans and vegetarians who share their homes with omnivorous and carnivorous animals.
Innovations are conducted in almost every area of the palatants market. Such manufacturer-end technologies primarily affect customer behavior and market reaction. Companies are using new digital technology to harness their creative ability and expertise in animal nutrition to generate added value for end users and customers. Innovations, such as monitoring of household companion
animals as well as technological innovation and several other features, are likely to boost sales in the palatants market. For instance:
- DIANA and BRAIN Pet Food entered into a strategic and world leading partnership for performance solutions in cat taste science in 2015. Through this, exclusive premeditated partnership that was well-known for 5 years, partners are likely to work on different agendas to study mechanisms related to taste discernment in cats. Joint goal of the 1st program is to use thriving cat taste cells (CTC) for screening new ingredients, which intend to improve the palatability of pet food.
Palatants Market Segmentation
Palatants Market by Nature
Palatants Market by Form
- Liquid Palatants
- Dry Palatants
Palatants Market by Source
- Vegetable Derived Palatants
- Specialty Grain
- Meat Derived Palatants
Palatants Market by End-use Application
- Pet Food
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