The global feed palatability enhancers & modifiers market is projected to witness a CAGR of 3.5% from 2014 to 2019. Asia-Pacific represented the largest market in 2013, and is projected to be the fastest-growing market from 2014 to 2019, followed by ROW and Europe. North America is the growing at a CAGR of 3.1%.
The feed palatability enhancers & modifiers market includes few dominant global players and several small regional players. Some of the key players in the market include Diana Group (France), Kerry Group (Ireland), Associated British Foods Plc. (U.K.), and Eli Lilly and Company (U.S.). The top three players that include the above accounted for only 19% of the market in 2013, while the top five players collectively accounted for about 22% of market share.
Diana group is one of the key players in the pet food category. The company is placing emphasis on providing new and innovative solutions to its customers in the pet food category. Diana also provides tailored solutions to customers in nutrition/health products that are targeted at pet owners for providing better quality feeds to its pets. Further, the establishment of a new manufacturing facility is likely to help in improving its distribution while furthering the company’s reach in the North American region.
Kerry’s global presence, strong brand image, product portfolio, and strategic acquisitions & expansions allow the company to cater to the specialized needs of customers across various regions. The company’s significant level of investment in research & development activities and ever-expanding technology & innovation centers worldwide are enhancing its innovation process while providing support to its clients worldwide.
Associated British Foods Plc (ABF) (U.K.) is another major player in feed palatability enhancers & modifiers market with its strong geographical presence. The company is directing its strategy towards development and distribution of new and innovative products that are aimed at satisfying growing customer needs. Also, ABF aims at providing high-value ingredients in feed, which is projected to increase consumer preference towards the product.
Feed Palatability Enhancers & Modifiers Market by Type (Natural and Synthetic), by Livestock (Swine, Poultry, Cattle, Pets, Aquaculture, and Others) - Global Trends & Forecasts to 2019
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