Various types of flavors and sweeteners are used in animal feed to improve the sensory appeal of these products. These compounds improve the gustatory and olfactory characteristics of the feed and since they are often used in animal feed supplements, they accomplish the task of providing healthy nutrients to the cattle, livestock and domestic animals. The globally active network of manufacturers and growing demand for animal products and meat are some of the major drivers for the global feed flavors and sweeteners market. Growing global demand and awareness about the nutritional value of the animal products amongst consumers are creating rise in demand for these products along with the feed supplements. This is considered to be a good sign for the established as well as entry-level manufacturers in the industry.
Segmentation in Feed Sweeteners & Flavors Market
The global market is segmented on the basis of the types of products, applications across different types of feed and demand recorded across different geographic regions. The types of products in the feed flavors & sweeteners market are divided into two basic segments, which include natural and synthetic products. On the basis of the applications across different type of livestock, the industry is categorized into poultry, swine, aquaculture, cattle and such other animals. On the basis of geography, the industry is divided into Asia Pacific, North America, Europe and the rest of the world. Analysis of all these segments provides details about the trends, drivers, challenges and growth opportunities for the industry players across the globe.
Drivers and Forecasts
The global feed flavors & sweeteners market is driven by four basic drivers, which include:
- Rise in awareness towards the quality of meat and animal products
- Rise in demand for feeds across the world
- Rise in demand for meat on global scale
- Rise in mass production of meat
Thanks to these factors, the global industry is managing to achieve steady growth and is estimated to maintain the current growth rate during the next few years to come. According to the researchers, analysis of the segmentation and trends suggests that the global feed flavors & sweeteners market is expected to grow at a CAGR of over 3% from 2014 to 2019. At the projected CAGR, the industry is anticipated to reach past $2,226.4 million by the end of the year 2019. During the study period, Asia Pacific is expected to witness strongest growth rate thanks to growing investments from established global manufacturers in this region. Growing cost of raw materials and stringent government guidelines on the other hand remain to be major restraints for the industry.