The report “Feed Flavors and Sweeteners Market by Type (Feed Flavors and Feed Sweeteners), Livestock (Ruminants, Swine, Poultry, Aquatic Animals), Form (Dry and Liquid), Source (Natural and Synthetic) and Region – Global Forecast to 2022″, The feed flavors & sweeteners market is estimated to value at USD 1,236.1 Million in 2017. It is further projected to reach a value of USD 1,463.0 Million by 2022, at a CAGR of 3.4% from 2017.
The market is driven by factors such as increasing demand for palatability boosting ingredients, growing meat and dairy products industries, and increasing awareness of consumers towards quality meat products. Additionally, the implementation of innovative husbandry practices to improve quality of meat product provide feed flavors and sweeteners producers and distributors with lucrative opportunities.
Market Dynamics
Driver: Increasing awareness of consumers towards quality meat products
Consumers all over the globe are increasingly demanding quality meat due to the growing awareness regarding the nutritional dynamics of these products. According to The Food and Agriculture Organization (FAO), animals provide over 33% of protein consumed in human diets and around 16% of food energy. Besides, income growth, urbanization, and changes in lifestyles are the major factors impacting the demand for high-quality food. Consumers are now becoming more aware of the quality of food they consume, and the benefits associated with food products. As a result, the production of healthy and quality livestock has become important, leading to the surge in demand for quality feed with better palatability. Therefore, flavors and sweeteners products are anticipated to experience a robust demand in coming years.
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Owing to the consumers’ rising demand for superior-quality meat products, high-end food service sector and supermarkets offering premium brands are now constantly demanding quality meat. This factor instigated livestock producers to provide quality and healthy livestock in order to satisfy the quality standards required by various food players and different markets across the globe. According to The Australian Competition and Consumer Commission (ACCC), “Exports to the European Union are largely high-quality products servicing the high-end food service sector and premium supermarket brands. The need to meet quality and import requirements results in processors sourcing cattle against stringent specifications. These import and quality requirements also mean that cattle producers specialize in preparing animals for the EU market to a certain extent.” To be able to fulfill such quality standards, livestock producers all over the world are emphasizing on animal diet as well as on food additives that increase the feed intake of livestock.
Restraints: Lack of awareness in developing countries
The livestock sector is still evolving in developing countries such as Argentina, India and Brazil. However, a majority of these countries still depend on forages, crop residue, and open grazing to feed the livestock and do not emphasize on the feed quality or palatability. According to the Planning Commission of India (now replaced by successor think tank National Institution for Transforming India), “only about half of the annual fodder requirement is met from the cultivated fodder and crop residues, whereas open grazing and fodder availability from common property resources like forests, pastures, village commons, etc. fulfills the remaining half of the annual fodder requirement.” These conventional methods of feeding animals restrict the growth of the commercial animal feed industry and thereby the growth of the animal feed additives market. Livestock producers and farmers in these countries are still unaware regarding feed additives such as flavors and sweeteners and benefits associated with them. Highly populous and rapidly developing countries, such as India, where livestock production is a major part of agriculture economy are yet to evolve in terms of modern feed additives solution. Nevertheless, better promotional and educational activities about the benefits of flavors and sweeteners products may create huge potential for palatable feed additives in these countries.
Opportunity: Implementation of standardized and commercial husbandry practices to improve the quality of meat products
The rising meat consumption along with growing demand for quality meat products has increased the importance of quality feed as well as better and palatable feed additives in the livestock industry. Increase in the per capita income, improved standard of living, and rise in awareness towards better health has subsequently resulted into the increased demand for quality protein food sources such as meat and other animal-based products. In response to the growing demand for these products, standardized and commercial animal husbandry techniques and practices came into existence and are widely being adopted all over the globe. Better hygiene, animal health programs, and provision of premium quality animal feed with better taste and texture are some of the important factors that are emphasized by these husbandries so that quality meat and dairy products will be produced pertaining to the standards set by regulatory bodies.
Government monitoring agencies such as the U.S. Food and Drug Administration (USFDA) and European Food Safety Authority have imposed rules regarding the quality of food that is to be delivered to consumers. According to the FDA, meat composition, fat content, color, flavor, and protein content are some of the attributes that define the quality of meat. Hence, to fulfill these quality standards and to produce healthy livestock, a huge demand for effective and palatability enhancing feed ingredients is observed from several husbandries and commercial farms. Thus, increasing number of standardized husbandries and commercial farms are anticipated to build new opportunities for feed flavors and sweeteners players.
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Challenge: Fluctuating price of raw materials
The fluctuating price of raw materials is the major challenge being faced by feed flavors and sweeteners players. The prices of raw materials such as citrus fruits and butter are highly unstable, which result in the high cost of production and impacts the prices of the final products. Citrus flavored feeds are majorly consumed by livestock animals compared to other flavors, and therefore they are demanded by livestock producers. However, the fluctuation in the prices of citrus fruits such as orange and grapefruit has been a significant challenge for animal feed flavor producers and has been impacting the price of final citrus flavor feed products.
Nutriad International Dendermonde (Belgium), and Pancosma (Switzerland), Alltech (U.S.), FeedStimulants (Netherlands) and BIOMIN Holding GmbH (Austria), DuPont (US), Norel S.A. (Spain) and Prinova Group LLC (US), Agri-Flavors, Inc. (US), Origination O2D, Inc. (US), Kerry Group Plc (Ireland) and Pestell Minerals & Ingredients Inc. (Canada).
Nutriad International Dendermonde (Belgium), and Pancosma (Switzerland) are the visionary leaders in the animal feed flavors and sweeteners market. These players have broad product offerings that cater to most of the regions, globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
