(MoneyNewsWire.Net, May 28, 2018 ) Global Feed Flavours Market was worth USD 1.19 billion in 2016 and estimated to be growing at a CAGR of 3.4%, to reach USD 1.46 billion by 2021. They have been gaining popularity in the recent years as people have realised the importance and benefits of providing good quality feed. Three has been a growth in the meat and dairy industry too.
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The market factors driving the market include tremendous growth of the meat & dairy products industries, increasing demand for palatability boosting ingredients and increasing awareness of consumers towards quality meat products. Additionally, innovative husbandry practices are being adopted which further fuel the growth of the market. However, the lack of awareness about palatability-boosting additives in developing countries may act as a restraining factor for this market in coming years.
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The Global market for Feed Flavours is broadly categorized into flavour, livestock, form and source. By flavour the market is segmented into fruits, spices, butter and others. By livestock the market is classified into ruminants, swine, poultry, aquaculture and others. By form the market is divided into dry and liquid. Dry feed accounts for a major share of the market. By source the market is divided into natural and synthetic..On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Feed Flavours market was dominated by North America followed by Europe. Asia Pacific is expected to grow at the highest CAGR.
Some of the major companies dominating the market, by their products and services include Nutriad (Belgium), Pancosma (Switzerland), Alltech (US), FeedStimulants (the Netherlands), BIOMIN Holding (Austria), DuPont (US), Norel (Spain), Prinova Group (US), Agri-Flavors (US), Origination O2D (US), Kerry Group (Ireland), and Pestell Minerals & Ingredients (Canada).
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