(Entertainment-NewsWire.com, August 16, 2018 ) According to a new market research report " Feed Flavors And Sweeteners Market By Livestock (Aquaculture, Cattle, Poultry, Swine And Others), By Type (Natural And Artificial) And By Region – Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)",
According to a new market research report Feed Flavours and Sweeteners Market published by MarketDataForecast™, the market was worth USD 2.16 billion in 2018 and estimated to be growing at a CAGR of 3.60%, to reach USD 2.58 billion by 2023. Factors driving the growth of this market are the need to use these flavours to take away the bitter taste caused by minerals, vitamins and thereby increasing the intake of feed by animals.
Asia – Pacific commanded the largest share of the market
Based on region, the Feed Flavours and Sweeteners Market is segmented into North America, Europe, Asia, and Rest of the World (RoW). Asia – Pacific dominated the Feed Flavours and Sweeteners Market in 2016. This is due to the continuous modernization of animal production techniques and the growing awareness among the consumers regarding the impact of quality feed. APAC is estimated to grow at a very high rate in the coming future.
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Cattle segment accounted for the largest market share in 2016
By livestock, the Feed Flavors and Sweeteners Market, is classified into Aquaculture, Cattle, Poultry, Swine and Others. The cattle segment led the global Feed Flavors and Sweeteners Market in 2016. Factors driving the growth of this segment are cattle as the only major source of milk and milk based products owing to increased demand for flavours & sweeteners.
The Natural type segment dominated the market in 2018
By type, the market is segmented into Natural and Artificial. The natural type segment accounted for the largest share of the global Feed Flavors and Sweeteners Market in 2016.This growth is attributed to factors such as animals are less allergic effects compared to artificial type additives owing to rise in demand for the natural type.
Key players in the Feed Flavors and Sweeteners Market include Biomin GMBH, Eli Lilly and Company, E. I. Dupont, Phytobiotics, Industrial Técnica Pecuaria, Ferrer Internacional S.A., Kerry Group PLC, Jefo Nutrition Inc, Prinova and Tanke International Group.
