Market Trends of Feed Flavors, Sweeteners and Natural Enhancers Industry
This section covers the major market trends shaping the Feed Flavors, Sweeteners & Natural Enhancers Market according to our research experts:
Increase in Consumer Awareness Toward Quality Meat Products
The demand for quality meat is increasing globally due to increasing awareness of nutritional requirements in foods. Increasing urbanization, changing lifestyles, and rising income are some factors driving the demand for quality foods. With rising demand for superior-quality meat products, the high-end food service sector and supermarkets offering premium brands are demanding quality meat. This factor pushed the livestock producers to provide quality and healthy livestock to satisfy the quality standards required by various food players and different markets across the world.
According to the FAO, the protein obtained from animal product consumption is 33%. So, the demand for meat products is increasing. The manufacturers are using flavors, sweeteners, and enhancers to increase the feed intake and supply quality meat to the consumers. The global consumption of meat protein is estimated to rise by 14% by 2030 compared to 2018-2020 due to population growth and income. Protein availability from poultry, beef, pork, and sheep is expected to grow by 17.8%, 5.9%, 13.1%, and 15.7%, respectively, by 2030. Better hygiene, animal health programs, and the provision of premium quality animal feed with better taste and texture are some of the important factors that raise the quality of meat. Dairy products will be produced according to the standards set by regulatory bodies.
Asia-Pacific - The Largest Market for Feed Flavors, Sweeteners and Natural Enhancers
Asia-Pacific is the largest market for feed flavors, sweeteners, and natural enhancers, accounting for a significant share of the overall market. The growing consumer awareness about quality feed and pet food in the region has spurred the demand for feed flavors, sweeteners, and natural enhancers. Moreover, the soaring prices of meat driven by numerous disease outbreaks like the African Swine Fever have led the producers to tap the profits in the region, hence boosting the feed flavors, sweeteners, and natural enhancers market. The rise in income levels in developing countries like India and China is leading to growing numbers of pet ownership, healthcare, and spending, thereby driving the feed palatability enhancers market.
The Chinese animal feed additive industry is heavily influenced by governmental initiatives. The country's efforts to modernize and find efficiencies in its structure and practices and the increasing demand for meat and animal products to meet the protein needs of the growing population are among the major factors driving the growth of the market studied. India is one of the leading producers of poultry meat in the world. The increase in the average income and the urban population has led to a tremendous increase in poultry demand and a steady increase in consumption over the years. Poultry production has been growing enormously in the region, which would, in turn, create demand for palatability enhancers to improve feed intake and livestock performance.
