The Asia Pacificpalatants market is expected to grow from US$ 255.13 million in 2022 to US$ 389.82 million by 2028. It is estimated to grow at a CAGR of 7.3% from 2022 to 2028.
Increasing Product Innovation would provide opportunities to the Asia Pacific Palatants Market
The rising consumer preference and demand for nutrient-rich, premium, and personalized pet food has increased product innovations, including the development of innovative, safe, and premium quality palatants. Major market players are diversifying product portfolios by including organic, natural, and phytonutrient-rich products to gain a competitive edge. Moreover, several players in the palatants market are engaged in the production of customized palatants. Various companies are also involved in research and development (R&D) activities to introduce nutrient-rich pet food products. For instance, AFB International is investing in R&D to assess the drivers of palatability, from basic science to complex product systems. Similarly, SPF International's R&D team is working on the design of a sensorial solution that can improve the kibble's smell while maintaining excellent palatability performance. Thus, increasing product innovations and growing R&D activities are expected to provide lucrative opportunities in the Asia Pacific palatants market over the forecast period.Asia Pacific Palatants Market Overview
The Asia Pacific palatants market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. These countries report increasingly high animal populations, which helps boost the demand for animal feed across the region. Moreover, developing countries such as China and India have a significant population of pets. According to the National Bureau of Statistics, China has the fastest-growing pet industry in the region. Factors such as increasing disposable income, and rising awareness regarding animal health and wellness also contribute to the demand for pet food, in turn boosting the demand for palatants. According to a report by Dairy India, the Indian cattle feed industry has grown at ~6% per annum in 2010-2020, making India one of the world's most significant and fastest-growing cattle feed markets. Despite this growth, there is a massive gap between requirement and production. Thus, there is a huge opportunity for cattle feed formulators to reposition themselves in India to enhance livestock productivity.Asia PacificPalatants Market Revenue and Forecast to 2028 (US$ Million)
Asia PacificPalatants Market Segmentation
The Asia Pacific palatants market is segmented into form, category, source, and country.- Based on form, the Asia Pacific palatants market is bifurcated intodry and liquid. The dry segment held the larger market share in 2022.
- Based on category, the Asia Pacific palatants market is bifurcated into organic and conventional. The conventional segment held the larger market share in 2022.
- Based on source, the Asia Pacific palatants market is segmented into plant derived palatants, meat derived palatants, insect derived palatants, and others. The meat derived palatants segment held the larger market share in 2022.
- Based on country, the Asia Pacific palatants market is segmentedinto Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The China dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Palatants Market - By Form
1.3.2 Asia Pacific Palatants Market - By Category
1.3.3 Asia Pacific Palatants Market - Source
1.3.4 Asia Pacific Palatants Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Palatants Market Landscape
4.1 Market Overview
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Asia Pacific Palatants Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Popularity of Pet Humanization
5.1.2 Changing Consumer Perception Regarding Pet Health
5.2 Market Restraints
5.2.1 Stringent Regulatory Framework
5.3 Market Opportunities
5.3.1 Increasing Product Innovation
5.4 Future Trends
5.4.1 Increasing Consumer Preference for Clean Label Products
5.5 Impact Analysis of Drivers and Restraints
6. Palatants - Asia Pacific Market Analysis
6.1 Asia Pacific Palatants Market Overview
6.2 Asia Pacific Palatants Market Forecast and Analysis
7. Asia Pacific Palatants Market Analysis - By Form
7.1 Overview
7.2 Asia Pacific Palatants Market, By Form (2021 and 2028)
7.2.1 Dry
7.2.2 Overview
7.2.3 Dry: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
7.2.4 Liquid
7.2.5 Overview
7.2.6 Liquid: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
8. Asia Pacific Palatants Market Analysis - By Category
8.1 Overview
8.2 Asia Pacific Palatants Market, By Category (2021 and 2028)
8.3 Organic
8.3.1 Overview
8.3.2 Organic: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Conventional
8.4.1 Overview
8.4.2 Conventional: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
9. Asia Pacific Palatants Market Analysis - By Source
9.1 Overview
9.2 Asia Pacific Palatants Market, By Source (2021 and 2028)
9.3 Plant-Derived Palatants
9.3.1 Overview
9.3.2 Plant-Derived Palatants: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
9.4 Meat-Derived Palatants
9.4.1 Overview
9.4.2 Meat-Derived Palatants: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
9.5 Insect-Derived Palatants
9.5.1 Overview
9.5.2 Insect-Derived Palatants: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
9.6 Others
9.6.1 Overview
9.6.2 Others: Asia Pacific Palatants Market - Revenue and Forecast to 2028 (US$ Mn)
10. Asia Pacific Palatants Market - Country Analysis
10.1 Overview
10.1.1 Asia Pacific Palatants Market, by Key Country
10.1.1.1 Australia: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Australia: : Asia Pacific Palatants Market, by Form
10.1.1.1.2 Australia: Asia Pacific Palatants Market, by Category
10.1.1.1.3 Australia: Asia Pacific Palatants Market, by Source
10.1.1.2 China: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 China: : Asia Pacific Palatants Market, by Form
10.1.1.2.2 China: Asia Pacific Palatants Market, by Category
10.1.1.2.3 China: Asia Pacific Palatants Market, by Source
10.1.1.3 India: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: : Asia Pacific Palatants Market, by Form
10.1.1.3.2 India: Asia Pacific Palatants Market, by Category
10.1.1.3.3 India: Asia Pacific Palatants Market, by Source
10.1.1.4 Japan: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Japan: : Asia Pacific Palatants Market, by Form
10.1.1.4.2 Japan: Asia Pacific Palatants Market, by Category
10.1.1.4.3 Japan: Asia Pacific Palatants Market, by Source
10.1.1.5 South Korea: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 South Korea: : Asia Pacific Palatants Market, by Form
10.1.1.5.2 South Korea: Asia Pacific Palatants Market, by Category
10.1.1.5.3 South Korea: Asia Pacific Palatants Market, by Source
10.1.1.6 Rest of Asia Pacific: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of Asia Pacific: Asia Pacific Palatants Market, by Form
10.1.1.6.2 Rest of Asia Pacific: Asia Pacific Palatants Market, by Category
10.1.1.6.3 Rest of Asia Pacific: Asia Pacific Palatants Market, by Source
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Kerry Group Plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Archer-Daniels-Midland Co
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 AFB International Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 BHJ AS
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Bitek Industries Pty Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Symrise AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Innov Ad NV/SA
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Kemin Industries Inc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Ohly GmbH
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Trilogy Essential Ingredients Inc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Glossary of Terms
List of Tables
Table 1 Asia Pacific Palatants Market Revenue Forecast to 2028 (US$ Mn)
Table 2. Asia Pacific Palatants Market, by Form - Revenue and Forecast to 2028 (US$ Million)
Table 3. Asia Pacific Palatants Market, by Category - Revenue and Forecast to 2028 (US$ Million)
Table 4. Asia Pacific Palatants Market, by Source - Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia : Asia Pacific Palatants Market, by Form- Revenue and Forecast to 2028 (US$ Million)
Table 6. Australia: Asia Pacific Palatants Market, by Category - Revenue and Forecast to 2028 (US$ Million)
Table 7. Australia: Asia Pacific Palatants Market, by Source - Revenue and Forecast to 2028 (US$ Million)
Table 8. China : Asia Pacific Palatants Market, by Form - Revenue and Forecast to 2028 (US$ Million)
Table 9. China: Asia Pacific Palatants Market, by Category - Revenue and Forecast to 2028 (US$ Million)
Table 10. China: Asia Pacific Palatants Market, by Source - Revenue and Forecast to 2028 (US$ Million)
Table 11. India : Asia Pacific Palatants Market, by Form - Revenue and Forecast to 2028 (US$ Million)
Table 12. India: Asia Pacific Palatants Market, by Category - Revenue and Forecast to 2028 (US$ Million)
Table 13. India: Asia Pacific Palatants Market, by Source - Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan : Asia Pacific Palatants Market, by Form - Revenue and Forecast to 2028 (US$ Million)
Table 15. Japan: Asia Pacific Palatants Market, by Category - Revenue and Forecast to 2028 (US$ Million)
Table 16. Japan: Asia Pacific Palatants Market, by Source - Revenue and Forecast to 2028 (US$ Million)
Table 17. South Korea : Asia Pacific Palatants Market, by Form - Revenue and Forecast to 2028 (US$ Million)
Table 18. South Korea: Asia Pacific Palatants Market, by Category - Revenue and Forecast to 2028 (US$ Million)
Table 19. South Korea: Asia Pacific Palatants Market, by Source - Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Asia Pacific: Asia Pacific Palatants Market, by Form - Revenue and Forecast to 2028 (US$ Million)
Table 21. Rest of Asia Pacific: Asia Pacific Palatants Market, by Category - Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of Asia Pacific: Asia Pacific Palatants Market, by Source - Revenue and Forecast to 2028 (US$ Million)
Table 23. Glossary of Terms, Asia Pacific Palatants Market
List of Figures
Figure 1. Asia Pacific Palatants Market Segmentation
Figure 2. Asia Pacific Palatants Market Segmentation - By Country
Figure 3. Asia Pacific Palatants Market Overview
Figure 4. Dry segment holds the largest share
Figure 5. China Held Largest Share of Asia Pacific Palatants Market in 2021
Figure 6. Porter's Five Forces Analysis: Asia Pacific Palatants Market
Figure 7. Ecosystem: Asia Pacific Palatants Market
Figure 8. Expert Opinion
Figure 9. Asia Pacific Palatants Market: Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Palatants Market Forecast and Analysis, 2020-2028 (US$ Mn)
Figure 11. Asia Pacific Palatants Market Revenue Share, by Form (2021 and 2028)
Figure 12. Dry: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 13. Liquid: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 14. Asia Pacific Palatants Market Revenue Share, by Category (2021 and 2028)
Figure 15. Organic: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Conventional: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 17. Asia Pacific Palatants Market Revenue Share, by Source (2021 and 2028)
Figure 18. Plant-Derived Palatants: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 19. Meat-Derived Palatants: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Insect-Derived Palatants: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 21. Others: Asia Pacific Palatants Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 22. Asia Pacific Palatants Market, by Key Country - Revenue (2021) (US$ Million)
Figure 23. Asia Pacific Palatants Market Revenue Share, by Key Country (2021 and 2028)
Figure 24. Australia: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
Figure 25. China: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
Figure 26. India: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
Figure 27. Japan: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
Figure 28. South Korea: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of Asia Pacific: Asia Pacific Palatants Market -Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned
- AFB International Inc
- Archer-Daniels-Midland Co
- BHJ AS
- Bitek Industries Pty Ltd
- Innov Ad NV/SA
- Kemin Industries Inc
- Kerry Group Plc
- Ohly GmbH
- Symrise AG
- Trilogy Essential Ingredients Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 119 |
| Published | February 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 255.13 Million |
| Forecasted Market Value ( USD | $ 389.82 Million |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 10 |
