Market Synopsis of Feed Pigments Market:
Feed pigments market is expected to grow USD 1,980.8 million at a CAGR 3.67% for the forecast 2021-2030.
Feed pigments are substances for farm animals used to give color to the tissues responsible for the colors of skin, eyes, and hair along with enhancing the quality of animal nutrition. They assist in improving the nutritional properties of animal fodder. Feed pigments are either natural or synthetic pigment, which improves the feed performance when added, as they offer oxidation-preventing mechanisms and also enhance the immune system. Along with improving the feed quality, they also improve animal health by reducing livestock diseases.
Feed pigments have gained status globally, as they improve the quality as well as quantity produced by the animals. Changing lifestyle and consumer’s preferences towards a healthy diet, natural products, and increasing meat consumption are the key drivers for the market. Growing health concerns among the increasing global population associated with the intake of the animal source are expected to foster the demand for feed pigments. For instance, poultry feed pigments are used to determine the shade of egg yolks and poultry skin.
Growing population in developing countries has increased the demand for production of poultry, ruminants, and other livestock for consumption, which has uplifted the demand for feed pigments in the market. Furthermore, increasing consumption of poultry and meat products is adding fuel to the growth of the global feed pigments market. Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the feed pigments market during the forecast period, 2017-2023.
Feed pigments market is segmented on the basis of type, which includes carotenoids, curcumin, spirulina, and others. Among them, the carotenoids segment is anticipated to dominate the market followed by the spirulina segment. Moreover, the curcumin segment is witnessed to have a substantial growth over the forecast period.
On the basis of source, the feed pigments market is segmented into natural feed pigments and synthetic feed pigments. The natural feed pigments are projected to have a potential growth over the forecast period.
Based on the livestock, the feed pigments market is segmented into poultry, ruminants, swine, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products globally. However, the ruminants segment is witnessed to gain a moderate growth over the estimated period.
The global feed pigments market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific region is dominating the feed pigments market followed by North America. In Asia Pacific region, China is the major contributor of poultry products, which, in turn, boosts the market growth in this region. Furthermore, increasing consumption of poultry and meat products and rapidly growing population in developing countries of Asia Pacific is giving a push to the growth of the feed pigments market.
Moreover, rising demand for poultry products in countries like the U.S., Canada, and Mexico in the North American region is projected to boost the feed pigments market during the forecast period. Additionally, the major key players are actively involved in the research & development of the product conforming to North American regulations for feed pigments.
Some of the key players profiled in the global feed pigments market: BASF SE (Germany), Royal DSM N.V. (The Netherlands), Novus International, Inc. (U.S.), Nutrex NV (Belgium), Kemin Industries Inc. (U.S.), Behn Meyer Group (Singapore), Synthite Industries Ltd (India), Kalsec Inc. (U.S.)
The global feed pigments market is segmented into the following regions
Rest of the world
The report for global feed pigments market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Feed pigments market is expected to exhibit a CAGR of 3.67% from 2021-2030.
High demand for pigments from livestock and poultry owners are major drivers of the global feed pigments market.
APAC can dominate the global feed pigments market due to countries such as China and India being large producers of poultry products.
North America is the second-largest region in the global feed pigments market.
Synthite Industries Ltd, Novus International, Inc., Kalsec Inc., BASF SE, Nutrex NV, Behn Meyer Group, Kemin Industries Inc., and Royal DSM N.V. are notable players of the global feed pigments market.