Yahoo Finance Animal Feed Sweetener Sales Set to Record a CAGR of 8.7% through 2034 Amid Increasing Population and Surging Demand for High-quality Nutritional Feeds | Future Market Insights, Inc.
The United States animal feed sweetener market is projected to grow at a CAGR of 4.9%, reaching USD 2,512.2 million by 2034. With a strong health and wellness culture for pets and domesticated animals, and high acceptability for nutritious feed materials, the market outlook remains positive.
NEWARK, Del, June 27, 2024 (GLOBE NEWSWIRE) -- The global animal feed sweetener market value is estimated to total USD 9,732.1 million in 2024 and is projected to increase at a CAGR of 8.7% during the forecast period. Global animal feed sweetener sales are projected to total USD 20,784.6 million by 2034.
Several factors are expected to drive the growth of the animal feed sweetener industry during the assessment period. These include the booming livestock sector, growing consumption of animal products, and surging demand for high-quality nutritional feeds.
Feed sweeteners are gaining wider popularity due to their ability to enhance food taste and appeal. These additives increase the palatability of feed to gain more nutrition out of it after absorption without any side effects.
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Animal owners purchase feeds with enhanced palatability to ensure their animals receive the proper nutrition and avoid various health issues. Thus, high spending on quality nutritional feeds is expected to boost sales growth through 2034.
The clean label movement is having a profound impact on the industry due to growing consumer demand for transparency. The main aim of the clean label movement is to maintain transparency about food and feed ingredients among consumers.
Increasing awareness about pet food and nutrition has boosted the market for clean-label products. There is an increased interest in natural feed sweeteners, creating new growth windows for the market.
Key Takeaways from the Global Animal Feed Sweetener Market Study:
The animal feed sweetener market is projected to expand at a CAGR of 8.7% through 2034.
Based on product type, the artificial sweetener segment is expected to dominate the market with a 54.4% market share in 2024.
Based on form, the powder segment is set to account for a share of about 41.2% in 2024.
China is expected to hold 65.2% in the East Asia region during the forecast period.
Demand in the United States will likely increase at a CAGR of 4.2% through 2034.
“The animal feed sweetener market shows promising growth potential, driven by the increasing demand for natural and sustainable ingredient sources. Collaborations, mergers, and acquisitions among players indicate a competitive landscape focused on innovation and meeting evolving consumer preferences for holistic animal health and wellness.” says Nandini Roy Choudhury, Client Partner at Future Market Insights.
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Who is Winning?
Leading players cover the maximum market share and the rest is for the smaller and start-up organizations.
Many players are implementing strategies like partnerships, acquisitions, and mergers to expand their presence and stay ahead. Start-ups are innovating with new ingredients and innovative sources.
Leading Animal Feed Sweetener Brands
ADM Animal Nutrition
Palital Feed Additives B.V.
Purina
INDUSTRIAL TECNICA PECUARIA, S.A.
EnSigns Health Care Pvt Ltd
Norel Animal nutrition
Veesure India
Kemin Industries, Inc.
Henan Znok Livestock Trading Co., Ltd.
Indiana Sugars
Industry Updates:
In December 2023, ADM announced the acquisition of PT Trouw Nutrition Indonesia, a key provider of nutritional and functional solutions for livestock farming.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides a thorough, detailed, and unbiased analysis of the global animal feed sweetener market, presenting Historical Demand data for the years 2019 to 2023 and forecast statistics for the years 2024 to 2034. The study offers market growth projections based on product type, form, animal type, sales channel and region.
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Key Segments of Market Report
By Product Type:
The animal feed sweetener market segmentation, based on product type, is divided into natural sweeteners and artificial sweeteners. The natural sweeteners segment is further divided into stevia, palm sugar, honey, maple syrup, molasses, and thaumatin. Similarly, artificial sweeteners category is further categorized into aspartame, neotame, saccharin, sucralose, neohesperidin dihydrochalcone (NHDC).
By Form:
Feed sweeteners come in powder, liquid and crystal forms.
By Animal Type:
Based on animal type, the animal feed sweetener market is divided into ruminant, poultry, swine, and pet animals.
By Sale Channel:
Different sales channels include direct sale (B2B sales), indirect sale (B2C sales)- offline retail, and online retail. The indirect sales segment is further segmented into veterinary (pet) stores, hypermarket/supermarket, speciality store, and discount store.
By Region:
Animal feed sweetener market analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
About the Food & Beverage Division at Future Market Insights:
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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