Feed Flavors and Sweeteners Market to Exceed a Healthy Grow at CAGR 3.3% from 2018 to 2023

Market Scenario:
Feed flavors & sweeteners are natural or synthetic ingredients mixed with livestock, poultry, and feed of other animals. They are used to enhance the sensory attributes of animal feed. Additionally, these additives are used to mask the bitter taste of animal feed. Along with improving the feed quality, they also improve the feed uptake in the livestock animals.

Feed flavors and sweeteners have gained status globally, as they help in enhancing the smell, taste, and texture, resulting in the increased feed intake by the livestock animals, and improved performance. Growing population in the developing countries has an increased demand for meat & meat products for consumption, which has uplifted the demand for feed, which, in turn, has uplifted the feed flavors and sweeteners market. Growing awareness regarding livestock health, along with increased demand for nutritive animal feed products is expected to uplift the demand for feed flavors and sweeteners.

Moreover, use of feed flavors and sweeteners has helped in increasing the feed consumption and also reducing the feed wastage. Use of feed flavors, as an additive in various feed formulation, is experiencing a high demand owing to its enhanced functionality. Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the feed flavors and sweeteners market during the forecast period, 2017-2023.

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Key Players:
Some of the key players profiled in the global 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), and Alltech, Inc. (U.S.)

Key Findings:
Asia Pacific region is experiencing a higher growth rate in the global feed flavors and sweeteners market

The demand for feed flavors is high from the poultry and livestock holders

Segments:
The global feed flavors and sweeteners market are segmented into type, form, and livestock.

On the basis of the type, it is segmented into feed flavors; further sub-segmented into thaumatin, aniseed, citrus, milky vanilla, red fruits, and others, and feed sweeteners which is further sub-segmented into glycyrrhicine, saccharine, thaumatin, and others. Among both, the feed flavors segment is dominating the market owing to its higher use in the feed products for enhancing the flavor and aroma properties.
On the basis of the form, it is segmented into dry, liquid, and others. The dry segment is dominating the market. Ease of handling and storage has uplifted the demand for the dry form.
On the basis of the livestock, it is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products globally. However, the swine segment is projected to witness steady growth over the forecast period owing to increasing demand for meat & meat products globally.

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Regional Analysis:
The global feed flavors and sweeteners market are segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the feed flavors and sweeteners market followed by North America. In the Asia Pacific region, India & China are the major consumers of feed flavors and sweeteners, which, in turn, boosts the market growth in this region. Furthermore, increasing demand for feed additives such as flavors & sweeteners among the livestock holders in developing countries of Asia Pacific is giving a push to the growth of the feed flavors and sweeteners market.

Moreover, rising demand for feed additives such as binders & enhancers in countries like the U.S., Canada, and Mexico in the North American region is projected to boost the feed flavors and sweeteners market during the forecast period.

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This release was published on openPR.