Feed Pigment Market by Type, Carotenoids Source, Livestock & by Region - Industry Analysis, Share, Size, Growth, Trends, and Forecasts (2016-2021)
Latin America Feed Pigment Market was worth USD 156.52 million in 2016 and is expected to reach USD 186.79 million by 2021 with a CAGR of 3.6 %.
Pigment is a compound which provides color to the other substance. Feed Pigments provide aid to improve the commercial value of meat derivatives by improving the color, Form, and palatability of the feed.
It also acts as anti-oxidants to cure many diseases in animals and making them healthy.
Rising demand for meat, growing health consciousness among consumers to take healthy food, rising disposable incomes, and rising need for healthier livestock owing the growth of meat industry are some of the factors driving the market. However, factors like high expense of synthetic pigments and scarcity of natural pigments are restraining the growth of the market.
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Latin America Feed Pigment Market is segmented based on Type, Carotenoids Source and livestock. Based on Type, market is further segmented into Carotenoids, Curcumin, Caramel, Spirulina & Others.
Based on Carotenoids Source, market is further segmented into Natural Feed Pigments, Synthetic Feed Pigments. Based on Livestock, market is further segmented into Swine, Ruminants, Poultry, Aquatic Animals & Others.
Further based on Carotenoids, market is further segmented into Beta-Carotene, Canthaxanthin, Lutein, Astaxanthin, Lycopene, Zeaxanthin, Other Carotenoids. Carotenoids dominated the market in 2015 owing to its widespread usage.
Geographically, market is segmented into brazil, Argentina and Mexico. Latin American market is expected to witness rapid increase in the market during forecast period.
key players listed in the report are Royal DSM N. V., BASF SE, D.D. Williamson & Co., Inc.
(DDW), Kemin Industries, Inc., Behn Meyer Group, Novus International, Inc., Guangzhou Leader Bio-Technology Co., Ltd, Synthite Industries Ltd, Innovad AD NV/SA, and Vitafor NV.
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