Global Feed Flavor And Sweetener Ingredients Market Size 2024, Forecast To 2033
6 Mar, 2024
The feed flavor and sweetener ingredients market has experienced robust growth, surging from $4.63 billion in 2023 to $5.01 billion in 2024, reflecting a considerable compound annual growth rate (CAGR) of 8.2% during the historic period. This growth is attributed to consumer demand for quality animal products, enhancements in palatability, chemical innovation, regulatory changes in the industry, and market demand for diverse feeds. Looking ahead, the market is expected to see continued strong growth, reaching $6.63 billion in 2028 at a CAGR of 7.3%. Key drivers for this anticipated growth include the shift towards natural and organic products, innovation in functional ingredients, expansion in animal feed production, the rise in pet ownership, and efforts towards sustainable and ethical sourcing. Major trends in the forecast period encompass a focus on sustainable sourcing, expansion in the aquaculture and pet food sectors, the development of customization and tailored solutions, technological advancements in formulations, and the influence of health and wellness trends.
Global Feed Flavor and Sweetener Ingredients Market Key Driver
The increasing demand for pet food is expected to propel the growth of the feed flavor and sweetener ingredients market going forward. Pet food refers to a specialized diet created for domestic animals that meets all their nutritional requirements. Feed flavor and sweetener ingredients refer to taste modifiers that are frequently used to enhance the palatability of animal feed, including pet foods. They aid in ensuring that feed is appetizing and that the recommended feed intake is reached. For instance, in February 2023, according to the United States Department of Agriculture, a US-based federal executive department, in 2022, pet foods worth $304 million were exported from the US to China. There was a rise of 200% in pet food exports, which accounted for a total of 50% of the total imports. Therefore, the increasing demand for pet food is driving the growth of the feed flavor and sweetener ingredients market.
Get A Free Sample Of The Global Feed Flavor and Sweetener Ingredients Market ReportGlobal Feed Flavor and Sweetener Ingredients Market Segments
The feed flavor and sweetener ingredients market covered in this report is segmented –
1) By Type: Feed flavors, Feed sweeteners
2) By Source: Natural, Synthetic
3) By Form: Powder, Liquid
4) By Livestock: Ruminants, Swine, Poultry, Aquatic animals, Other Livestock
By Geography:The regions covered in the feed flavor and sweetener ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the feed flavor and sweetener ingredients market in 2023. It is expected to be the fastest-growing region in the global feed flavor and sweetener ingredients market report during the forecast period. The regions covered in the feed flavor and sweetener ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Feed Flavor and Sweetener Ingredients Industry Players
Alltech Biotechnology Private Limited, Palital Feed Additives B.V., Solvay S.A., E.I. du Pont de Nemours & Company, Kerry Group plc, Kemin Industries Inc., Biomin Holding GmbH, Norel S.A., Nutriad International NV, Pancosma, Phytobiotics Futterzusatzstoffe GmbH, Origination OD Inc., Prinova Group LLC, Kaesler Nutrition GmbH, InRoads International LLC, Aromatech Group, Bell Flavors & Fragrances, Cargill Inc., Diana Pet Food, Firmenich SA, Givaudan SA, International Flavors & Fragrances Inc., Kalsec Inc., Mane SA, Robertet SA, Sensient Technologies Corporation, Symrise AG, Takasago International Corporation, Tate & Lyle PLC, Treatt PLC, Archer-Daniels-Midland Company, Badische Anilin- und Sodafabrik, DSM Nutritional Products AG, Evonik Industries AG, Novus International Inc., Nutreco N.V., Provimi Holding B.V., Royal DSM N.V., Trouw Nutrition International B.V., Zoetis Inc.
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Feed Flavor and Sweetener Ingredients Market Overview
Feed flavor and sweetener ingredients are natural or synthetic compounds that provide flavor, aroma, and taste to animal feed, making it more appealing to animals and promoting increased feed intake. Feed flavor and sweetener ingredients are used to enhance feed palatability and nutritional value.
Feed Flavor and Sweetener Ingredients Global Market Report 2023 provides data on the global feed flavor and sweetener ingredients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The feed flavor and sweetener ingredients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.