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(MoneyNewsWire.Net, April 06, 2018 ) The European Feed Palatability Enhancers & Modifiers is expected to grow at a CAGR of 2.77% and reach USD 0.85 billion in 2021 from USD 0.74 billion in 2016. The Feed Palatability Enhancers & Modifiers market is expected to show evident potential in the forecasting period. The market continues to build up momentum with the increase in the consumption of meat all over the world and has thus got attention especially from the manufacturers of Feed additives such as flavours, sweeteners and texturants.
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Feed Palatability Enhancers & Modifiers are usually used to tackle the bitter taste and smell from feed due to feed additives, which being good for animal health, are necessary. Sweeteners and Flavours are thus used to neutralize the taste and smell. Palatability includes oxidation, mold control and better shelf life for animal feed.
The increasing demand for healthy and safe human food as well as mass meat production has caught attention of different feed additives manufacturers. It has led to a significant growth in the market recently. Other important factors driving the market include rise in meat consumption, consumer awareness about meat quality, increased feed demand and the quality of pet food which is one of the major concerns. The market also faces some restraints and challenges. Some of the major ones include increase in raw materials cost and harmful effects related to ingredients. These factors are responsible for holding back the market from reaching its actual potential.
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The Europe Feed Palatability Enhancers & Modifiers market is divided based on type and livestock. The segmentation on the basis of type is done into sweeteners, texturants and flavours which all are further categorized as natural or synthetic. The natural products dominated the market share due to health concerns related to use of synthetic products. On the basis of livestock, the market is categorized into swine, cattle, poultry, pet foods, aquaculture and others. The cattle segment exhibits the highest market share in livestock segmentation due to rise in cattle meat production over the years and is thud expected to grow even further. On the basis of geography, the Europe market is analysed under various regions namely U.K, Germany, Spain, Italy and France.
Some of the major companies dominating the market, by their products and services include Associated British Foods PLC, Kerry Group PLC, Diana Group, Eli Lilly and Company, E. I. Dupont, Ensign-Bickford Industries Inc., Kemin Europa, Ferrer, Kent Feeds Inc., Tanke International Group.
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