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Feed Flavors and Sweeteners Market – New Revenue Pockets
Feed flavors and sweeteners areadditives that improve the taste and smell of feed to encourage the animal to consume it easily. Further, it masks the unpleasant taste in feed caused due to addition of vitamins, minerals and medicinal products during the animal growth period and increases salivary, gastric& pancreatic secretion,regulates the pH level,and makes the feed more digestible.
Asia-Pacific is the largest market for feed flavors and sweeteners, with China accounting for a majority share in 2013 followed by Japan and India. The growth in the Asia-Pacific region was attributed to the growthin population and urbanization and rise in per capita income,which accelerated the consumption of animal food. This resulted in an increased demand for better animal health and growth which in turn drove the demand for feed flavors and sweeteners. Also, the growing demand for meat products of various livestock has led countries, such as China, to be the major producers of feed additives and major exporters of meat products in the Asia-Pacific region.
North America is the second largest market for feed flavors and sweeteners and has a tremendous growth potential for feed additives. The U.S. dominated the feed flavors and feed sweeteners market with a share of about 62% and 63.09%, respectively in 2013. The growing demand for feed additives, meat consumption, dairy products, and consumer awareness on chemicals used in feed is leading to the increased innovations in area and is thus driving the growth for feed additivesin the North America region.
Europe is another major market for feed flavors and sweeteners.But over the past few years, the feed flavors and sweeteners market in European countries is experiencing a stagnant growth owing to the cost and productivity of the animal feed. Other factors include outbreak of animal diseases, a major downfall in the animal feed production in France, and the non-significant growth in the animal feed industry. This has also led the European countries to increase its import demand for meat products, thereby benefiting countries such as Brazil, China, and so on.
Feed Flavors & Sweeteners Market by Type (Natural and Synthetic), by Livestock (Swine, Poultry, Cattle, Aquaculture, and Others) - Global Trends & Forecasts to 2019
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