ID: MRFR/AGR/3959-HCR | 90 Pages | Published By Tejas Chaudhary on March 2023
Feed flavors & sweeteners market size is expected to garner a revenue of USD 2.5 billion by 2027 with a CAGR of 4.1% during the forecast period of 2020 to 2027.
$ 2.5 Billion
4.1%
Asia Pacific
2020-2027
The global feed flavors & sweeteners market size is anticipated to reach USD 2.5 billion by 2027, registering a CAGR of 4.1% during 2020-2027. Feed additives incorporated within the animal feed to enhance the taste and sweetness are referred to as feed flavors & sweeteners. Feed palatability is a significant concern among the feed manufacturers and is driving the growth of feed flavors and sweeteners market as such additives help in enhancing the feed palatability. Moreover, the rising importance of feed to increase livestock yield and productivity is yet another determinant fueling the market growth of palatability-boosting feed additives such as flavors & sweeteners. However, lack of awareness in the developing countries regarding the importance of feed palatability and the benefits of using feed flavors & sweeteners is hampering the market growth. Moreover, fluctuating prices of raw materials are creating hurdles in the growth of the market players as it directly impacts the cost of the final product. However, market players are focusing on collaborating with the raw material suppliers, by entering into contract farming practices, to minimize the impact of fluctuating raw material prices.Â
Segmentation
The global feed flavors & sweeteners market has been segmented based on type, source, form, livestock, and region.
By type, the feed flavors and sweeteners market has been classified as flavors and sweeteners. The flavor segment is further categorized as sweet, savory, and others. The sweeteners segment is also segregated into saccharine, glycyrrhizin, neohesperidine dihydrochalcone, and others.
Based on the source, the market has been classified as natural and synthetic.
By form, the global feed flavors & sweeteners market is segregated into dry and liquid.
The Global market has also been divided, based on livestock, into ruminants, swine, pets, and others.
The global feed flavors & sweeteners market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American feed flavors & sweeteners market has further been segmented into the US, Canada, and Mexico. The European feed flavors and sweeteners market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The feed flavors & sweeteners market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Key Players
Regional Market Summary
Global Feed Flavors & Sweeteners Market Share (%), by Region, 2019Â
Source: Secondary Sources and MRFR Analysis
Asia-Pacific accounted for the largest market share in 2019 and is expected to register the highest CAGR during the forecast period. The region's dominance and growth can be attributed to the high dependence of the regional population, majorly rural community, on livestock produce as a mode of income and for rising food demand. Growing concerns regarding the palatability of specific feeds is also a crucial factor boosting the sales of flavors and sweeteners for feed. The major country-level markets contributing to the growth of the Asia-Pacific feed flavors and sweeteners market are China, India, Japan, Vietnam, and Thailand.
Global Feed Flavors & Sweeteners Market, by Type
Global Feed Flavors & Sweeteners Market, by Source
Global Feed Flavors & Sweeteners Market, by Form
Global Feed Flavors & Sweeteners Market, by Livestock
Global Feed Flavors & Sweeteners Market, by Region
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | USD 2.5 Billion |
CAGR | 4.1% |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Source, Form, Livestock, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Grupo Ferrer Internacional S.A. (Spain), Solvay (Belgium), Nutriad (Belgium), Pancosma (Switzerland), Alltech (US), FeedStimulants (Netherlands), BIOMIN Holding (Austria), DuPont (US), Norel (Spain), Prinova Group LLC (US) |
Key Market Opportunities | Market players are focusing on collaborating with the raw material suppliers, by entering into contract farming practices |
Key Market Drivers | Rising importance of feed to increase livestock yield and productivity |
Feed flavors and sweeteners market valuation would be USD 2.5 billion.
Feed flavors and sweeteners market CAGR would be 4.1% during the forecast period.
Grupo Ferrer Internacional S.A. (Spain), Solvay (Belgium), Nutriad (Belgium), Pancosma (Switzerland), Alltech (US), FeedStimulants (Netherlands), BIOMIN Holding (Austria), DuPont (US), Norel (Spain), Prinova Group LLC (US), Agri-Flavors (US), Origination O2D (US), Kerry Group (Ireland), Pestell Minerals & Ingredients (Canada), and Kemin Industries Inc. (US) are some of the major players operating in the feed flavors and sweeteners industry.
Dry and liquid are forms studied for the feed flavors and sweeteners market report.
Asia Pacific would take charge of the global feed flavors and sweeteners market.
Natural and synthetic are sources discussed for the feed flavors and sweeteners market report.