“GLOBAL FEED PIGMENTS MARKET, BY TYPE, CAROTENOIDS SOURCE, LIVESTOCK, GEOGRAPHY, COMPANY (NORTH AMERICA, ASIA-PACIFIC, EUROPE, SOUTH AMERICA) FORECASTING (2018-2024)”.
The overall Global feed pigments market is expected to reach USD 1130.2 billion by 2024 at a CAGR of 3.46% during the forecast period. Feed pigments are used to increase the appearance of animal products and raise in meat consumption across the globe accelerates the growth in the market.
Apart from appearance, feed pigments are also used in oxidation prevention mechanisms and an excellent immune system for animals.
Based on type, Carotenoids vertical have the most significant share in Europe in 2017
Carotenoid is a feed pigment material used to enhance the appearance of various animal products. Carotenoid can also cure multiple diseases in the animals and increases the immunity system, protects from disease.
It is organic pigment produced from plants, algae and different bacteria and fungi. Europe holds 48% of the world market in manufacturing Carotenoids in 2017 and is expected to reach 55% during the forecast period (2018-2024).
Curcumin, caramel, spirulina are several feed pigment types holds a considerable share in the growth of the market.
Global feed pigment, By Livestock, holds a considerable market in future
These feed pigments are added in addition to the feed given to livestock such as swine, poultry, ruminants, aquatic animals and other livestock types. This increases the appearances and health conditions of various animals and hence accelerates the growth of Global feed pigment market.
Europe holds the highest market share during the forecast period
Europe is likely to contribute 55% of total world market during the forecast period in manufacturing carotenoids feed pigment. APAC also hold a considerable share for manufacturing Carotenoids pigment and is expected to a CAGR of 3.7% in future.
Major key players in the market are BASF SE (Germany), Royal DSM N. V. (The Netherlands), Kemin Industries, Inc.
(U.S.), D.D. Williamson & Co., Inc. (DDW) (U.S.), and Guangzhou Leader Bio-Technology Co., Ltd (China),., among others.
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