“Feed flavors & sweeteners market is projected to grow at a CAGR of 3.4%.”
The feed flavors & sweeteners market, estimated at USD 1,236.1 million in 2017, is projected to grow at a CAGR of 3.4%, to reach USD 1,463.0 million by 2022. The market factors driving the demand for feed flavors and sweeteners include increasing demand for palatability boosting ingredients, growing meat & dairy products industries, and increasing awareness of consumers towards quality meat products. Additionally, the implementation of innovative husbandry practices to improve quality of meat products are paving new opportunities for the feed flavors & sweeteners market. However, the lack of awareness about palatability-boosting additives such as flavors and sweeteners in developing countries may act as a restraining factor for this market in coming years.
“Feed flavors is projected to be the fastest-growing segment in the global feed flavors & sweeteners market”
On the basis of type, feed flavors is projected to be the fastest growing segment during the review period. Feed flavor additives enhance the taste and aroma of feed that leads to the increase in feed intake of livestock and helps in improved growth performance as well. In addition, flavors such as citrus, spices, and vanilla enable the voluntary feed intake by animals and provide health benefits such as better immunity. These benefits offered by feed flavors have resulted in a massive demand for these additives in the feed industry, which is expected to contribute to the growth of the feed flavors & sweeteners market in the coming years.
Asia Pacific is projected to be the largest region throughout the forecast period
Asia Pacific acquired the largest share of the feed flavors & sweeteners market in 2016 owing to the increase in growing awareness among the consumers regarding the impact of quality feed provided to the livestock on the animal-based products such as meat and dairy products. Further, continuous modernization of animal production techniques is projected to drive the demand for palatable additives such as flavors and sweeteners in this region.
Break-up of primaries is as follows:
- By Company Type: Tier 1 – 15%, Tier 2 – 45%, and Tier 3 –40%
- By Designation Level: C Level – 35%, Director Level –20%, and Others – 45%
- By Region: North America – 14%, Europe – 29%, Asia Pacific – 43%, and RoW – 14%
Leading players profiled in this report:
- BIOMIN Holding
- Prinova Group
- Origination O2D
- Kerry Group
- Pestell Minerals & Ingredients
The report segments the feed flavors & sweeteners market on the basis of application ingredients, form, source, and region. In terms of insights, this research report has focused on various levels of analyses?trade analysis, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global feed flavors & sweeteners market, high-growth regions, countries, government initiatives, drivers, restraints, and opportunities.
Reasons To buy this report:
- To get a comprehensive overview of the feed flavors & sweeteners market
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- To gain insights about the major countries/regions in which the feed flavors & sweeteners market is flourishing