The global feed flavors & sweeteners market size is set to chart an impressive growth trajectory in the upcoming years owing to the indispensability of animal feed products for livestock performance and the environment, states Fortune Business Insights™ in its report, titled “Feed Flavors & Sweeteners Market Size, Share & Industry Analysis, By Type (Feed Flavors, Feed Sweeteners), By Animal Type (Ruminants, Poultry, Swine, Aquaculture, Others), By Form (Dry, Liquid) and Regional Forecast, 2022-2029”. According to the Food and Agriculture Organization (FAO), by 2050, the global demand for livestock products will increase by more than 60%, which will exert tremendous pressure on livestock. Since livestock animals are crucial for farmers in non-farming seasons, maintaining their health is of utmost importance.
Highlights of the Report:
- Microscopic examination of the major market trends, drivers, and constraints;
- Granular evaluation of all segments of the market;
- Comprehensive study of the leading players and their strategies; and
- Thorough analysis of the regional developments influencing the market.
Restraining Factor
Coronavirus-induced Supply Chain Disruptions to Stall Market Growth
The feed flavors & sweeteners market growth is likely to get hindered by the outbreak of the COVID-19 pandemic, which has triggered unprecedented disruptions in the animal feed supply chain worldwide. For example, in April 2020, Romania became the first country to halt grain exports amid the pandemic to ensure food security for its citizens. The banned list includes grains that are extensively used for producing feed such as wheat, barley, and maize.
Regional Insights
Growing Dependence on Livestock to Boost the Market in Asia Pacific
Asia Pacific is expected to dominate the feed flavors & sweeteners market share in the forthcoming years as farmers in this region are growing increasingly dependent on livestock. This is because erratic weathers, fueled by climate change and global warming, have made full-time agriculture difficult to practice. As a result, farmers in countries such as India and Bangladesh are employing measures to increase livestock production to support agricultural activities, which is anticipated to raise the demand for feed flavors & sweeteners in the region.
In North America, spreading awareness among consumers about the quality of meat being consumed has led to a booming demand for high-quality meat and meat products, which is stoking the adoption of feed flavors & sweeteners among farmers and agro-based businesses. Moreover, rapid expansion of the foodservice sector in the region has allowed premium brands to reach a larger audience, which favors this market.
Competitive Landscape
Key Players to Expand Market Presence via Strategic Acquisitions
The leading companies in this market are implementing various strategies to consolidate their position and fasten their hold on the market. Chief among these is the acquisition of other competitors, which not only allows the acquirer to deepen its market foothold but also enables the company diversify its portfolio and broaden its customer base.
Industry Developments:
- August 2020: China-based Bluestar Adisseo Company announced the acquisition of the Dutch feed additive specialist, FRAmelco Group. The takeover will propel Adisseo’s position as one of the top specialty feed ingredient producers in the world.
- March 2020: The US-based animal nutrition company, Alltech, entered into a partnership with the aqua-feed company, Corey Nutrition, to develop and distribute a new range of aqua-feed products to aqua farmers across North America.
List of Key Players Covered in the Feed Flavors & Sweeteners Market Report:
- Pestell Minerals & Ingredients Inc.
- Origination O2D, Inc.
- Norel S.A.
- DuPont
- Agri-Flavors, Inc.
- Alltech
- Nutriad International NV
- Prinova Group LLC
- Kerry Group Plc
- BIOMIN Holding GmbH
- FeedStimulants
- Pancosma
Browse Summary
https://www.fortunebusinessinsights.com/feed-flavors-sweeteners-market-103204
