Report : Middle East & Africa Palatants Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Form (Dry and Liquid), Category (Organic and Conventional), and Source (Plant Derived Palatants, Meat Derived Palatants, Insect Derived Palatants, and Others)
At 5.6% CAGR, the Middle East & Africa Palatants Market is speculated to be worth US$ 94.16 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa palatants market was valued at US$ 67.82 million in 2022 and is expected to reach US$ 94.16 million by 2028, registering a CAGR of 5.6% from 2022 to 2028. Rising popularity of pet humanization and changing consumer perception regarding pet health are the critical factors attributed to the Middle East & Africa palatants market expansion.
In recent years, the humanization of pets grew significantly across the region. The shift from pet owning to pet parenting has been a defining trend in the palatants market, especially in developed economies. Increasing consumer spending on pet care categories is attributed to the growing trend of pet humanization. Consumers are increasingly spending on premium pet food and products that are healthy, nutritious, and improving living conditions. There is a growing focus on pet health and wellness, sustainable products, eco-friendly, natural, and locally-sourced ingredients. Consumers are also investing in special diets and indulgent products, which promise a better quality of life to their pets. The use of palatants in pet food helps improve the taste, flavor, and texture that resemble their original meat food. Thus, the rising popularity of pet humanization have increased the demand for Middle East & Africa palatants market.
On the contrary, stringent regulatory framework hampers the Middle East & Africa palatants market.
Based on form, the Middle East & Africa palatants market is bifurcated into dry and liquid. The dry segment held 63.8% share of Middle East & Africa palatants market in 2022, amassing US$ 43.30 million. It is projected to garner US$ 59.33 million by 2028 to expand at 5.4% CAGR during 2022–2028.
Based on category, the Middle East & Africa palatants market is bifurcated into organic and conventional. The conventional segment held 80.8% share of Middle East & Africa palatants market in 2022, amassing US$ 54.83 million. It is projected to garner US$ 74.94 million by 2028 to expand at 5.3% CAGR during 2022–2028.
Based on source, the Middle East & Africa palatants market is segmented into plant derived palatants, meat derived palatants, insect derived palatants, and others. The meat derived palatants segment held 63.6% share of Middle East & Africa palatants market in 2022, amassing US$ 43.13 million. It is projected to garner US$ 59.35 million by 2028 to expand at 5.5% CAGR during 2022–2028.
Based on country, the Middle East & Africa palatants market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 36.7% share of Middle East & Africa palatants market in 2022. It was assessed at US$ 24.89 million in 2022 and is likely to hit US$ 33.17 million by 2028, exhibiting a CAGR of 4.9% during the forecast period.
Key players dominating the Middle East & Africa palatants market are AFB International Inc; Archer-Daniels-Midland Co; BHJ AS; Bitek Industries Pty Ltd; Kemin Industries Inc; Kerry Group Plc; Ohly GmbH; and Symrise AG, among others.
- In 2022; Ingredient supplier Symrise AG announced that it would be combining and rebranding its ADF, IsoNova, Schaffelaarbos and Diana Pet Food brands under one division. The four companies formerly named Diana Pet Food, ADF, IsoNova and Schaffelaarbos are joining forces in a single division. The organizational unit will carry the name of Symrise Pet Food. This division will address the pet food market, designed to provide pet food manufacturers with solutions to support their products.
- In 2022; Kemin Nutrisurance, the pet food and rendering segment of Kemin Industries, announced a new line of palatants for use in wet cat food: PALIVATE. Kemin’s new PALIVATE palatants are designed to increase the palatability of wet formulas while minimizing negative effects to a formula’s overall integrity.
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