Feed pigments are the natural or synthetic carotenoids used in feed products and majorly extracted from vegetable sources, stabilized and mixed with the suitable carrier to enhance the standardized pigment activity.
The global feed pigments market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well in the near future owing to the fact that feed pigments enhanced the palatability of meat products & feeds, effective pigmenter and expansion of the food industry.
Moreover, acceptance of astaxanthin feed pigment among feed manufacturers, feed pigments function as hormone precursors and colorants antioxidants to prevent from various diseases among animals and improve animal health are some of the major factors estimated to drive the revenue growth of the global feed pigment markets.
Based on pigment type, carotenoids are anticipated to grow at the fastest CAGR over the forecast period attributed to widely available in nature, along with carotenoids are commonly found in fishes with colors such as lutein, beta-carotene, tuna xanthin and much more.
Moreover, lutein, carotenoids sub-segment is the most common pigment in feed ingredients such as corn gluten meal, yellow corn, alfalfa meal which in turn accelerates the growth of the global feed pigments market during the forecast period.
Feed Pigments Market: Drivers and Restraints
The global feed pigments market is witnessing maximum growth owing to enhance the appearance, quality of meat related products, used in the poultry feeds to improve egg yolk and broiler skin pigmentation and make livestock healthy. Moreover, high-quality feed pigments help in refining the commercial value of animal products and increasing consumption of meat are some of the factors that can boost the demand for feed pigments over the forecast period and drives the global feed pigments market.
However, the high cost of synthetic pigments, rising manufacturing cost, and availability of seasonal feed pigments such as marigold are some of the factors which may hamper the growth of the global feed pigments market in near future.
Feed Pigments Market: Segmentation
The global feed pigments market has been classified on the basis of the pigment type, livestock, and sources.
Based on pigment type, the global feed pigments market is segmented into the following:
Based on livestock, the global feed pigments market is segmented into the following:
- Aquatic Animals
Based on sources, the global feed pigments market is segmented into the following:
- Synthetic Pigments
- Natural Pigments
Feed Pigments Market: Region-wise Outlook
Depending on geographic region, the global feed pigments market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia Pacific (APEJ), and Middle East & Africa (MEA). North America dominates the global feed pigments market followed by Europe andJapan owing to the presence of research and development facilities, high awareness about benefits of feed additives in livestock nutrition, and high acceptance of feed pigments among farmers.
Asia Pacific, Middle East and Africa hold huge potential and shows substantial growth in terms of rising consumption of meat products, growing awareness about poultry and the aquaculture business sector, consumers concern over health, safety and increasing demand for nutritive feeds along with processed animal products are some of the factors which strengthens the growth of the global feed pigments market throughout the forecast period.
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Feed Pigments Market: Key Players
Some players of the global feed pigments market are as follows:
- Nutreco Holdings
- Cargill Incorporated
- Bio-Technology Co., Ltd.
- D. Williamson & Co., Inc.
- Royal DSM N. V.
- BASF SE
- Kemin Industries, Inc.
- Novus International, Inc.
- Kalsec Inc.
- Vitafor NV
- PHW Group
- Behn Meyer Group.
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