The feed flavors market is estimated to expand at a healthy CAGR of 3.3% during the forecast period (2017-2023) owing to the growing demand for nutritive animal feed products, asserts Market Research Future (MRFR). Feed flavors and sweeteners are synthetic or natural ingredients which are mixed up with poultry, livestock, and feed of other animals to enhance the sensory attributes of animal feed. They are used to improve the bitter taste of animal feed and also improve the feed uptake.
The major players operating the global market are Kerry Group Plc (Ireland), Alltech Inc. (U.S.), Kemin Industries Inc. (U.S.), Prinova Group LLC (U.S.), S.A. (Spain), Biomin Holding GmbH (Austria), Pancosma SA (Switzerland), Grupo Ferrer Internacional, Solvay SA (Belgium), Nutriad Holding BV (the Netherlands), and Norel S.A. (Spain).
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Drivers and Constraints Impacting the Market
Feed flavors and sweeteners help in improving the taste, enhancing the smell, and texture, thus resulting in increased feed intake by the livestock animals. With the increasing population in the developed countries, there has been an increasing demand for meat and meat products which has fueled the demand for feed, thereby uplifting the feed flavors market. The increasing awareness regarding livestock health coupled with growing demand for nutritive animal feed products is anticipated to spur the market growth. Moreover, advanced methods of processing along with advanced technologies are positively supporting the feed flavors market.
On the flip side, high cost associated with raw materials and processing techniques is presumed to inhibit the market growth during the assessment period.
Global Feed Flavors and Sweeteners Market: Segmental Analysis
The global feed flavors market have been segmented on the basis of form, type, livestock, and region.
By mode of type, the feed flavors and sweeteners market has been segmented into feed flavors and feed sweeteners. The feed flavors segment has been further sub-segmented into red fruits, thaumatin, milky vanilla, aniseed, citrus, and others. The feed sweeteners segment has been further sub-segmented into saccharine, glycyrrhizin, thaumatin, and others. Among these, the segment for feed flavors is estimated to dominate the market due to its higher usage in the feed products to enhance the aroma and flavor.
By mode of form, the market has been segmented into liquid, dry, and others. Among these, the dry segment is presumed to dominate the global market due to easy handling and storage.
By mode of livestock, the market has been segmented into poultry, ruminants, swine, aquatic, and others. Among these, the poultry segment is estimated to dominate the global market due to the rising consumption of meat and poultry products.
Geographically, the feed flavors and sweeteners marker span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, Asia Pacific is presumed to dominate the global market closely followed by North America. China and India are the key consumers of feed flavors and sweeteners in this region, which further boosts the market growth. Also, with the growing demand for feed additives like flavors and sweeteners among the livestock holders, the market is expected to flourish in the coming years.
The North American region is also expected to flourish over the review period due to the presence of United States which dominates the market in this region. With the growing demand for poultry products, the market is likely to boost in the North American region.
06 Sep 2018: Amyris has announced that its zero-calorie sweetener which has been made from sugarcane has received the designation as Generally Recognized as Safe by an independent expert panel. The designation has been based on US Food Drug Administration requirements and lets Amyris begin commercially selling its natural, new, zero-calorie sweetener.