Feed Pigments Market Size was valued at USD 1.5 Billion in 2023. The Feed Pigments market industry is projected to grow from USD 1.6 Billion in 2024 to USD 2.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.67% during the forecast period (2024 - 2032). Increased meat consumption, the health benefits of carotenoids for animals, and the industrialization of the hog, poultry, and aquaculture industries, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
As the demand for meat products rises, the market for compound feed is anticipated to expand. Demand is anticipated to rise over the projection period as animal-based foods are consumed more often over the world. Furthermore, feed pigments improve palatability, organoleptic effects boost nutritional advantages, and offer additional health advantages. The industry is prepared to meet a significant demand for high-quality meat due to the surge in meat consumption around the world. Another element that is anticipated to support the industry's expansion is the need for dairy products. The market for feed pigments is primarily being driven by expanding demand for lean meat, rising health consciousness among consumers about the consumption of wholesome foods, rising urbanisation, and rising disposable income. Additionally, it is thought that the expansion of the feed pigment market is being driven by consumers' increasing desire for healthier animals as the meat business expands. Pigments added to feed are typically used to improve the nutritional content and aesthetic appeal of animal feed. Carotenoids play the most significant role among all feed pigments, have the highest nutritional value, and encourage the development of white blood cells, which helps decide the immune system's general health. Animals must obtain their carotenoids from their diet because they are unable to synthesise them.
The rise in meat consumption, industrialization of the hog, poultry, and aquaculture industries, as well as rising consumer preference for pellet feed, have all been favourably predicted as growth drivers for the worldwide feed pigment market. Additionally, the growing consumption of meat is one of the factors that can increase the demand for feed pigments over the projected period and propel the feed pigments market. High-quality feed pigments aid in improving the economic value of animal products. One of the key factors anticipated to propel the revenue growth of the feed pigments market is the acceptance of astaxanthin feed pigment among feed manufacturers. Feed pigments also serve as precursors to hormones, colourants, and antioxidants to prevent various diseases in animals and improve animal health.
Growing populations in developing nations have boosted the market demand for feed pigments by increasing the need for the production of poultry, ruminants, and other livestock for consumption. The worldwide feed pigments market is also expanding as a result of rising consumption of poultry and meat products. The development of the product in tandem with technical developments is also thought to be one of the key factors driving the feed pigments market's expansion over the course of the forecast year. Thus, driving the Feed Pigments market revenue.
The Feed Pigments market segmentation, based on Type, includes Carotenoids, Curcumin, Spirulina, and Others. Carotenoids segment dominated the market in 2022. To promote animal health and improve product quality, carotenoids are added to animal feed as nutrients. To assist feedstuff formulators in giving animals enough carotenoids at any given time, new forms of concentrated carotenoids are being developed, driving up demand for the carotenoids market.
The Feed Pigments market segmentation, based on Source, includes Natural Feed Pigments and Synthetic Feed Pigments. Natural feed pigments segment dominated the Feed Pigments market in 2022. The elements that contribute to consumers' growing hostility towards chemical substances. In order to increase their natural properties, these compounds are produced by extracting them from vegetable sources, stabilising them, and combining them with the right carriers.
The Feed Pigments market segmentation, based on Livestock, includes Poultry, Ruminants, Swine, and Others. Poultry segment dominated the market in 2022. Given the reasons behind the rise in demand for poultry products, it is critical that meat producers pay more attention to the quality of chemicals provided to these animals. These elements are boosting interest in this market area.
Figure 1: Feed Pigments Market, by Livestock, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Feed Pigments Market dominated this market in 2022 (45.80%). Due to the rising consumer demand across the food sector, the region's increased production of feed pigment is to blame for its significant industry share. It is projected that the younger population's interest for healthier meals would increase as a result of growing health concerns. In order to provide a variety of products, major industry players in North America are also strategically concentrating on firming their R&D efforts by utilising cutting-edge technology. Further, the U.S. Feed Pigments market held the largest market share, and the Canada Feed Pigments market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Feed Pigments Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Feed Pigments market is expected to register significant growth from 2023 to 2032. Due to the expanding consumer demand for pigments in the food business, particularly in Germany, feed pigment production capacity has increased quickly. The market in this region will experience growth due to the rising health concerns among the young population and the leading players' strategic focus on enhancing their R&D proficiencies by leveraging advanced technology to offer diversified product portfolios and increase the nutritive benefits of the feed pigments. Further, the German Feed Pigments market held the largest market share, and the U.K Feed Pigments market was the fastest growing market in the European region
The Asia Pacific Feed Pigments market accounted for the healthy market share in 2022. The growth of the market is predicted to be boosted by the expansion of the Asia Pacific market for dietary supplements. Additionally, as a result of the population's changing lifestyle and rising per capita income, consumers are choosing healthier and more nutritive food options, which is propelling the market's expansion. It is projected that the enormous poultry industry in the area and the rising popularity of aquaculture will open up new chances for market expansion. The region's rising meat consumption is fueling the market's expansion as a result of the expanding population. Moreover, China’s Feed Pigments market held the largest market share, and the Indian Feed Pigments market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Feed Pigments market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Feed Pigments Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Feed Pigments Industry to benefit clients and increase the market sector. In recent years, the Feed Pigments Industry has offered some of the most significant advantages to medicine. Major players in the Feed Pigments market, including BASF SE, Royal DSM N.V., Novus International Inc., Nutrex NV, Kemin Industries Inc., Behn Meyer Group, Synthite Industries Ltd, and Kalsec Inc., are attempting to increase market demand by investing in research and development operations.
DSM-Firmenich AG (DSM-Firmenich) is a science-based company that focuses on identifying environmental and social challenges and opportunities, seizing those opportunities to have a lasting positive impact on people and the environment, and then concentrating on fostering growth through sustained, profitable growth. The business makes speciality plastics, fibre and resin solutions, nutritional lipids, carotenoids, vitamins, and other components. From agriculture byproducts and biochemicals, the company creates materials for renewable energy and medicinal devices. The company's operations are tightly synchronised with those of its clients to promote the quick development of significant science-based inventions. Eastern Europe, Latin America, North America, Asia Pacific, and other regions are all where the corporation has activities. The headquarters of DSM-Firmenich are located in Heerlen, Limburg, the Netherlands. DSM purchased Prodap, a significant provider of animal nutrition and technology, in September 2022. With this approach, the business combines technology solutions, consultancy services, and specialised nutritional products to increase the effectiveness and sustainability of animal production.
Kemin Industries Inc. (Kemin) produces and distributes substances linked to human nutrition and animal health. Its product line includes, among other things, enzymes, probiotics, carotenoids, natural extracts, mould inhibitors, forage preservatives, toxin binders, liquid antibacterial formulations, and antioxidant formulations. These goods are used in a variety of sectors, such as biofuels, personal care, commercial greenhouses, pet food technology, rendering, dietary ingredients, food technologies, and animal nutrition and health. Several nations in North America, South America, Europe, the Middle East, Africa, China, Russia, India, and Asia Pacific are served by Kemin. The corporation has manufacturing sites in South Africa, the United States, China, India, Singapore, Brazil, and Brazil. Des Moines, Iowa, in the US, is home to Kemin's headquarters. In order to provide the highest-quality services and specialised solutions to Kemin Animal Nutrition, Kemin Industries launched additional offices and a distribution centre in Mexico in May 2022.
Feed Pigments Industry Developments
July 2022: Impextraco boosted the visibility of the Impextraco brand in Mexico by expanding its facility there to provide better product storage areas and commercial prospects.
| Attribute/Metric | Details |
| Market Source 2023 | USD 1.5 Billion |
| Market Source 2024 | USD 1.6 Billion |
| Market Source 2032 | USD 2.1 Billion |
| Compound Annual Growth Rate (CAGR) | 3.67% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Source, Livestock, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | BASF SE, Royal DSM N.V., Novus International Inc., Nutrex NV, Kemin Industries Inc., Behn Meyer Group, Synthite Industries Ltd, and Kalsec Inc. |
| Key Market Opportunities | Growing Asia Pacific aquaculture and feed pigments market |
| Key Market Dynamics | Health benefits of carotenoids for animals, rising consumption of meat, and industrialization of pork, poultry, and aquaculture businesses |
Feed Pigments Market Highlights:
Frequently Asked Questions (FAQ) :
The Feed Pigments market Source was valued at USD 1.5 Billion in 2022.
The market is projected to grow at a CAGR of 3.67% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are BASF SE, Royal DSM N.V., Novus International Inc., Nutrex NV, Kemin Industries Inc., Behn Meyer Group, Synthite Industries Ltd, and Kalsec Inc.
The Carotenoids Type dominated the market in 2022.
The Natural Feed Pigments Source had the largest share in the market.
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Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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