Feed Pigments Market, Applications, Key Developers, End Users, Advancements, Industry Growth & Forecast By 2027
Research Reports
Jan 18, 2022
Market Overview
The global feed pigments market 2020 is poised to witness substantial growth over the review period.
Market Synopsis
Feed pigments have acquired worldwide status as they boost both the consistency and quantity provided by the animals. In the near future, the market is expected to perform well since feed pigments have increased the palatability of meat products & feeds, successful pigmentation, and food sector growth. The industry’s significant factors are shifting habits and consumer tastes for a balanced diet, fresh food, and rising meat intake.
Rising health issues are projected to promote the need for feed pigments among the growing global population and the intake of animal sources. For example, to decide the hue of egg yolks and poultry skin, poultry feed pigments are used. In addition, astaxanthin feed pigment acceptance among feed manufacturers, feed pigments serve as hormone precursors, and antioxidant colorants to prevent different diseases among animals and Any of the key factors expected to drive the sales development of the worldwide feed pigment industries are improving animal welfare.
Demand for the production of chickens, ruminants and other livestock for consumption has risen with a rising population in developing countries, raising the demand for feed pigments on the market. In addition, the increased use of poultry and meat products adds steam to the expansion of the global demand for feed pigments. In addition, product enhancement, coupled with technical developments is considered to be one of the key factors for the growing growth of the demand for feed pigments during the review period.
The high cost of synthetic pigments, higher production costs and the availability of seasonal feed pigments such as marigold, however, are some of the factors that may impede the growth of the global feed pigments market in the near future.
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Key Players
Some of the eminent players profiled in the global feed pigments market are Royal DSM N.V. (The Netherlands), BASF SE (Germany), Novus International, Inc. (U.S.), Nutrex NV (Belgium), Behn Meyer Group (Singapore), Kemin Industries Inc. (U.S.), Synthite Industries Ltd (India), and Kalsec Inc. (U.S.).
Market Segment
The market for feed pigments is segmented by type, comprising carotenoids, curcumin, spirulina, and others. The segment of carotenoids, followed by the spirulina segment, is expected to lead the market. In addition, there has been a major rise in the curcumin segment over the projected period.
The demand for feed pigments is segmented into natural feed pigments and synthetic feed pigments depending on the source. A potential growth over the forecast period is projected for the natural feed pigments.
The feed pigment market is segmented into poultry, ruminants, pigs, and others on the basis of livestock. The poultry sector in particular, dominates the market based on the increased consumption of poultry and meat products worldwide. The section of ruminants, however has shown modest growth over the projected duration.
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Regional Analysis
Europe, Asia Pacific, North America, and the rest of the world (RoW) are segmented into the worldwide feed pigment industry.
The feed pigment market is dominated by the Asia Pacific region, followed by North America. China is the main contributor to poultry products in the Asia Pacific region, which in turn, boosts demand growth in this region. In addition, the rising consumption of poultry and meat products and the rapidly growing population of emerging Asia-Pacific countries are forcing the demand for feed pigments to expand.
In addition, growing demand for poultry products in the North American region in countries such as the U.S., Canada and Mexico is expected during the forecast period to raise the market for feed pigments. In addition, the main players are directly engaged in the research & production of the commodity in compliance with North American feed pigment regulations.
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