NEWARK, Del., June 27, 2024 (GLOBE NEWSWIRE) — The global animal feed sweeteners market is valued at US$9,732.1 million It is projected to grow at a CAGR of 2024. 8.7% During the forecast period, global feed sweetener sales are expected to reach a total of US$20,784.6 million By 2034.
Several factors are expected to drive the growth of the animal feed sweeteners industry during the assessment period, including booming livestock sector, increasing consumption of animal products, and surge in demand for high-quality nutritional feed.
Feed sweeteners have become widespread due to their ability to enhance the taste and attractiveness of foods. These additives increase the palatability of the feed, helping animals obtain more nutrients from the feed after absorption, without any side effects.
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Heavy spending on high-quality nutritional feed is expected to drive sales growth through 2034 as animal owners purchase enhanced palatability feed to ensure their animals receive proper nutrition and avoid various health issues.
The clean label movement has had a major impact on the industry due to the increasing demand for transparency among consumers. The main aim of the clean label movement is to maintain transparency among consumers regarding food and feed ingredients.
Rising awareness about pet food and nutrition is driving the market for clean label products. Growing interest in natural feed sweeteners is creating new growth opportunities in the market.
Key takeaways from the Global Animal Feed Sweeteners Market Study:
- The animal feed sweeteners market is expected to expand at a CAGR of 8.7% through 2034.
- By product type, the artificial sweeteners segment is expected to dominate the market with a market share of 54.4% in 2024.
- Based on form, the powder segment is expected to account for around 41.2% share in 2024.
- China is expected to account for 65.2% of the East Asia region during the forecast period.
- Demand in the United States is expected to grow at a CAGR of 4.2% through 2034.
“The animal feed sweeteners market is showing promising growth potential owing to the increasing demand for natural and sustainable raw material sources. Collaborations, mergers, and acquisitions among companies indicate a competitive environment focused on innovation and meeting the changing consumer preferences for overall health and wellness of animals.” Nandini Roy Choudhury, Client Partner, Future Market Insights said, “The COVID-19 pandemic has been a major driver for the COVID-19 pandemic.
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Who will win?
Large companies hold the lion’s share of the market, with smaller players and start-ups making up the rest.
Many companies are implementing strategies such as alliances, acquisitions, and mergers to increase their presence and maintain their edge. Emerging companies are innovating with new materials and innovative sources.
Leading Feed Sweetener Brands
- ADM Animal Nutrition
- Palital Feed Additives BV
- Purina
- Industrial Technica Pecuaria SA
- Ensigns Healthcare Inc.
- Norell Animal Nutrition
- Vishur India
- Kemin Industries Co., Ltd.
- Henan Zunock Livestock Trading Co., Ltd.
- Indiana Sugar
Industry Updates:
- In December 2023, ADM announced the acquisition of PT Trouw Nutrition Indonesia, a leading provider of nutritional and functional solutions for livestock production.
Gain more valuable insights
Future Market Insights (FMI), in a new offering, offers a thorough, in-depth and unbiased analysis of the global Animal Feed Sweeteners market, presenting historical demand data from 2019 to 2023 and forecast statistics from 2024 to 2034. The study provides growth forecasts for the market based on product type, form, animal type, sales channel and region.
Report preview: https://www.futuremarketinsights.com/reports/Animal Feed Sweeteners Market
Key Segments of the Market Report
By product type:
Based on product type, the animal feed sweeteners market is divided into natural and artificial sweeteners. The natural sweeteners segment is further divided into stevia, palm sugar, honey, maple syrup, molasses, and thaumatin. Similarly, the artificial sweeteners category is further divided into aspartame, neotame, saccharin, sucralose, and neohesperidin dihydrochalcone (NHDC).
By form:
Feed sweeteners are available in powder, liquid and crystalline forms.
By animal type:
Based on animal type, the animal feed sweeteners market is segmented into ruminants, poultry, swine, and pet animals.
By sales channel:
The sales channels include direct sales (B2B sales), indirect sales (B2C sales), offline retail, online retail etc. The indirect sales segment is further segmented into veterinary (pet) stores, hypermarkets/supermarkets, speciality stores and discount stores.
By region:
The analysis of the animal feed sweeteners market has been carried out in major countries across North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
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author:
Nandini Roy Choudhury (Food & Beverage Client Partner at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders to explore unseen opportunities and challenges. She puts processes and operating models in place to support business objectives.
She has strong analytical skills and often provides thought leadership.
Nandini has extensive functional expertise in key niche areas such as Food Ingredients, Nutrition & Health Solutions, Animal Nutrition, Marine Nutrients etc. She is also well versed in the Pharmaceutical, Biotechnology, Retail and Chemical sectors and advises market participants on developing methodologies and strategies that drive results.
Her primary areas of expertise are corporate growth strategies, sales and marketing effectiveness, acquisitions, post-merger integration and cost reduction. Nandini holds an MBA in Finance from MIT Business School and a Bachelor’s in Electrical Engineering from Nagpur University, India.
Nandini is a published author and has been quoted in Beverage Industry, Bloomberg, Wine Industry Advisor and other publications.
Check out FMI’s ongoing related coverage of the food and beverage sector.
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