Growing Meat and Dairy Products Industries to Drive the Global Feed Flavors and Sweeteners Market

Northbrook, IL, USA, 2019-Nov-4 — /EPR Network/ —

The feed flavors and sweeteners market is estimated to value at USD 1236.1 Million in 2017. It is further projected to grow at a CAGR of 3.4% from 2017 to 2022, to reach a projected value of USD 1,463.0 Million by 2022. Feed flavors & sweeteners products have become prominent in the recent years, due to the growing awareness of among the consumers regarding the impact of quality feed provided to the livestock on the animal-based products such as meat and dairy products.

How is the demand for high-quality meat and dairy products presenting growth opportunities for manufacturers in the feed flavors and sweeteners market?

The rising meat consumption along with growing demand for quality meat products has increased the importance of quality feed as well as better and palatable feed additives in the livestock industry. Increase in the per capita income, improved standard of living, and rise in awareness towards better health has subsequently resulted into the increased demand for quality protein food sources such as meat and other animal-based products. In response to the growing demand for these products, standardized and commercial animal husbandry techniques and practices came into existence and are widely being adopted all over the globe. Better hygiene, animal health programs, and provision of premium quality animal feed with better taste and texture are some of the important factors that are emphasized by these husbandries so that quality meat and dairy products will be produced pertaining to the standards set by regulatory bodies.

Government monitoring agencies such as the US Food and Drug Administration (USFDA) and European Food Safety Authority have imposed rules regarding the quality of food that is to be delivered to consumers. According to the FDA, meat composition, fat content, color, flavor, and protein content are some of the attributes that define the quality of meat. Hence, to fulfill these quality standards and to produce healthy livestock, a huge demand for effective and palatability enhancing feed ingredients is observed from several husbandries and commercial farms. Thus, increasing number of standardized husbandries and commercial farms are anticipated to build new opportunities for feed flavors and sweeteners players.

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How are the fluctuating prices of raw materials posing challenges for the production of feed flavors and sweeteners among manufacturers in the market?

The fluctuating prices of raw materials is a major challenge being faced by feed flavors and sweeteners players. The prices of raw materials such as citrus fruits and butter are highly unstable, which result in the high cost of production and impacts the prices of the final products. Citrus flavored feeds are majorly consumed by livestock animals compared to other flavors, and therefore they are demanded by livestock producers. However, the fluctuation in the prices of citrus fruits such as orange and grapefruit has been a significant challenge for feed flavor producers and has been impacting the price of final citrus flavor feed products.

In addition, according to the recent data published by FAO stated that “The FAO Dairy Price Index averaged 216.6 points in July, up 7.6 points (3.6 percent) from June and 74.3 points (52.2 percent) above its value in July 2016, underpinned by stronger prices of butter.” Such increase in prices of raw material is expected to pose a serious challenge especially for the natural animal feed flavors and sweetener players.

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.

On the basis of form, the liquid segment is projected to be the fastest growing during the forecast period, as flavors and sweeteners in liquid form are more convenient to use in pelletized feed and are economical in nature.

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.

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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.

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