(Food-Beverage-News.Com, January 23, 2018 ) Latin America Feed Flavors and Sweeteners Market was worth USD 240 million in 2016 and estimated to be growing at a CAGR of 3.50%, to reach USD 290 million by 2021. Market is looking strong in this region in the mentioned forecast period of this report in terms of growth rate. Feed additives and Sweeteners are the edible substances added to the animal feed in order to make it tastier to eat and add some extra nutrients in the feed.
People have been keeping livestock in form of cattle for a long time for their own benefits like milk and wool from sheep. In order to keep these livestock healthy, they need to provide better food to them, which was provided back then in the form of natural feed additives and sweeteners mixed to the regular feed for the livestock. It wasn’t until the second half of twentieth century, when a RandD started increasing in this sector and many more food additives started coming into the market, of both natural and artificial origin. Same is in the case of sweeteners; they come from both natural sources and are also manufactured artificially.
With this region being near the North American region which is a developed region, technology and new inventions arrives fast in this region. With new technology comes the new innovations which help the market in this region a lot. Also, developing countries like Brazil and Mexico contribute a lot to the growth of this region. Main purpose of using Feed Flavors and sweeteners in animal feed is to remove the bitter taste of minerals, vitamins and other medicines to increase the intake of animals. On the other hand, unawareness of people to spend on their livestock is challenging this market.
The Latin America market for Feed Flavors and Sweeteners is broadly categorized by Type and by Livestock. On the basis of Livestock, they are further categorized into cattle, swine, poultry, aquaculture and others. On the basis of Type, there are Natural and Artificial Feed Flavors and Sweeteners. On the basis of livestock, Cattle is the biggest market followed by swine and poultry.
Geographically, Latin America feed flavour and sweetener market has been segmented into Brazil, Argentina, Mexico, Colombia and rest of the nations of South America. Latin America has the second highest growth rate in the world among all the segmented regions in the Global Market. Brazil in this region has the biggest market share and growth rate.
Some of the major companies dominating the market, by their products and services include Biomin GMBH, E. I. Dupont, Eli Lilly and Company, Ferrer Internacional S.A., Industrial Técnica Pecuaria, Jefo Nutrition Inc, Kerry Group PLC, Phytobiotics, Prinova and Tanke International Group.
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