Research: Feed flavours & sweeteners market trends
A report published recently by MarketsandMarkets analyses the the feed flavours and sweeteners market in Asia-Pacific, Europe, North America, and Rest of the World. The purpose of using feed flavors and sweeteners in animal feed is to neutralise the bitter taste of vitamins, minerals, and other medicines to increase the feed intake by the animal.
Summary: The feed flavours & sweeteners market has been growing at a steady rate from last few years. The consumer awareness in North America is fuelling the feed flavours and sweeteners market in the region. The bitter taste in the feed is due to the feed additives that are considered healthy for the gut of the digestive tract in the animals. Further, they also act as a good substitute to the antibiotics in feed as the bitter taste is neutralised by the flavours and sweeteners. The market for these additives is growing in developing economies such as China, India, and Brazil.
The demand for safe human food and mass production of meat has received considerable attention to the importance of feed additives. The promising potential of flavours and sweeteners in swine and cattle feed provides enough evidence to encourage the manufacturers to consider using such additives. The dietary insertion of these additives has a positive effect on the animal health, as they are mixed with other feed additives with nutritional value that help in proliferation of indigenous lactic acid bacteria. These bacteria play a prominent role in the activation of the immune response against diseases. The feed flavours & sweeteners market is expected to grow at a CAGR of 3.6% from 2014 to 2019. Asia-Pacific is increasingly becoming an attractive market for feed flavours and sweeteners manufacturers.
The cattle feed segment dominates the feed flavours and sweeteners market owing mainly to the high production of cattle meat in the world. The swine feed segment is expected to grow at a CAGR from 2014 to 2019, owing mainly to the high demand of pork. Asia-Pacific dominated the feed flavours and sweeteners market, followed by North America.
North America is a major consumer of feed additives in the global feed additives market, and had a share of over 28% in 2011. It is the second largest market for feed flavours and sweeteners with a share of about 31% in 2013, owing to the growing demand for animal feed in the region. Thus, the manufacturing of the animal feed flavours in the region is quite high. Further, the consumer awareness pertaining to the chemicals used in animal feed has led some of the major innovations in the animal feed flavours and sweeteners industry in the region. However, the overall animal feed flavours & sweeteners industry in the European region has been stagnant for the past few years due to reasons related to the cost and productivity of the animal feed.
Some of the major players in the global feed flavours and sweeteners market are E.I.DuPont (US), Kerry Group (Ireland), Eli Lilly & Co. (US), and others. These companies provide a range of products, which offer specialised benefits to animals including swine, poultry, ruminant, and the aqua species.
The full report can be purchased here.
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