The feed flavors & sweeteners market has been segmented on the basis of type, livestock, form, source, and region. On the basis of type, the market has been segmented into feed flavors and feed sweeteners. On the basis of livestock, the market has been segmented into ruminant, swine, poultry, aquatic animal and others (Equine and pets). On the basis of source, the market has been segmented into natural and synthetic source. On the basis of form, the market has been segmented into dry and liquid form. On the basis of key regions, the market has been segmented into North America, Europe, Asia Pacific, South America, and Rest of the World (RoW).
The feed flavors segment, by type, is projected to be the fastest growing during the review period. This is due to various properties such as better aroma and flavor enhancement offered by feed flavors and sweeteners products. Further, health benefits such as better immunity and microbial balance offered by certain flavors for instance spices, are expected to drive the demand for feed flavor segment during the review period.
On the basis of livestock, the swine segment is projected to be the fastest throughout the review period. Increased usages of flavors and sweeteners in swine’s diet to prevent the low feed intake and weight loss during the during the transition period wherein swine experience various physical, physiological, and behavioral changes, is expected to drive the growth of this segment in coming years.
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The Asia-Pacific region is projected to be the fastest-growing, which includes India, China, Japan, Thailand, and Vietnam between the years 2017 and 2022. The driving factors for the market in this region are a continuous modernization of animal production techniques and the 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.
Companies such as Nutriad (Belgium), Pancosma (Switzerland), Alltech (US), FeedStimulants (the Netherlands), BIOMIN Holding (Austria), DuPont (US), Norel (Spain), Prinova Group (US), Agri-Flavors (US), Origination O2D (US), Kerry Group (Ireland), and Pestell Minerals & Ingredients (Canada) are some of the major feed flavors & sweeteners market participants. These major players offer a wide variety of flavors and sweeteners such as vanilla, milky, butter, spices, glycyrrhizin, and saccharine those can be served to almost all livestock classes. In addition, these players are currently offering products that incorporate the benefits and the taste of both, flavors and sweeteners. This innovation may create huge opportunities for the market participants mentioned above, especially in the developing countries where feed producers are more inclined towards additives with maximum benefits and minimum cost.
Increasing awareness of consumers towards quality meat products to drive the market growth
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.
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.
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