Feed flavors and sweeteners market are observing an exponential growth based on its increasing usage in the feed industry. Feed flavors and sweeteners are either naturally derived or synthetic additives used to enhance the taste, smell, and texture of feed. These feed additives decide the sensual impression of feed which, in turn, increases the feed uptake in animals. The major types of feed flavors & sweeteners available in the market include thaumatin, aniseed, citrus, milky vanilla, red fruits, saccharine, thaumatin, and others.
The Global Feed Flavors and Sweeteners Market Value are projected to propel by increasing awareness regarding available benefits to livestock animals from the feed flavors and sweeteners. Additionally, the feed flavors and sweeteners market are growing due to increasing meat & meat products consumption. Increased demand for feed flavors and sweeteners among the livestock holders is further pushing the market growth in a positive direction. In addition to rising meat consumption and improving quality of feed is likely to drive the growth of global feed flavors and sweeteners market.
Furthermore, advance processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the market. However, the high cost of processing techniques and raw materials may hamper the feed flavors and sweeteners market over the review period. The market players are responding to these new opportunities by expanding their product line, which has boosted the share of the feed flavors and sweeteners in the global market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.3% of the feed flavors and sweeteners market during the forecast period, 2017-2023.
The global feed flavors and sweeteners market are segmented into type, form, and livestock.
Based on the type, it is segmented into feed flavors – thaumatin, aniseed, citrus, milky vanilla, red fruits, and others; feed sweeteners – glycyrrhicine, saccharine, thaumatin, and others. Among both, the feed flavors segment is dominating the market.
Based on the form, it is segmented into dry, liquid, and others. The dry segment is dominating the market.
Based on the livestock, it is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market.
The major players in the feed flavors and sweeteners market
- Kerry Group Plc. (Ireland)
- Prinova Group LLC (U.S.)
- Kemin Industries, Inc. (U.S.)
- Solvay SA (Belgium)
- Grupo Ferrer Internacional, S.A. (Spain)
- Nutriad Holding BV (the Netherlands)
- Norel S.A. (Spain)
- Pancosma SA (Switzerland)
- Biomin Holding GmbH (Austria)
- Alltech, Inc. (U.S.)
The global feed flavors and sweeteners market are segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the feed flavors and sweeteners market followed by North America owing to rising population followed by increasing consumption of poultry and meat products in the developing regions. Moreover, increased demand for feed additives such as flavors & sweeteners among the livestock holders is driving the market growth of feed flavors and sweeteners in the Asia Pacific region.
Furthermore, the U.S. dominates the North American feed flavors and sweeteners market. Increased demand for poultry products in the North American region is likely to boost the feed flavors and sweeteners market over the forecast period.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.