Feed Pigments Industry Trends, Share, And Growth Analysis | Market Research Future

Market Overview

Feed Pigments are natural or synthetic substances added to animal feeds. The feed pigments improve the colours of the products obtained from livestock such as meat, egg, and milk and strengthen the immune and reproductive system of the animals and improve metabolism.

The value of the global feed pigments market was USD 1 billion in the year 2018. The value of this market was USD 917.4 million in the year 2015 and grew at a CAGR of 3.2% in the period between 2015-2020. In the forecast period 2019-2024, this market is estimated to grow with a CAGR of 2.93%.

Increasing meat consumption and rising commercial costs of healthy animals are the main drivers of the growth of the feed pigments market. Growing health awareness, consequent demand for healthy meat and other livestock products, increasing urbanisation, and rise in disposable incomes are other factors driving the growth of the feed pigments market.

Restraining factors which hinder the growth of the feed pigments market include rising costs of raw materials to manufacture feed pigments, environmental concerns, regulations and availability of cheaper substitutes.

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Market Segmentation

On the basis of types, the feed pigments market is divided into carotenoids, spirulina, caramel and curcumin. The carotenoid segment accounts for the largest share in the feed pigments market and is estimated to register the highest growth in the forecast period. Carotenoids provide several health benefits to the animals, such as stimulating white blood cell production and protecting against skin diseases, allergies, eye problems, cardiovascular diseases, and more.

On the basis of livestock, the feed pigments market has been divided into poultry, ruminants, swine, aquatic animals and other livestock. The poultry segment holds the largest share of the feed pigments market due to the high global consumption of poultry products and continually rising demands for the same.

On the basis of the source of the raw materials, the feed pigments market is divided into natural and synthetic. The natural segment holds the largest share in the market mainly due to consumers’ growing aversion to chemical ingredients and high focus on healthy products. Natural feed pigments are sourced from vegetables, while synthetic feed pigments are synthesised using chemicals.

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Regional Segmentation

On the basis of geography, the global feed pigments market has been segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. North America is the largest market for feed pigments because of the high acceptance of feed pigments among farmers, high health awareness and extensive presence of advanced R&D facilities to develop better feed pigments.

The Asia Pacific region is estimated to grow fastest due to increasing investments by global feed pigments manufacturers, rising consumption of meat and poultry products, and rising awareness about the poultry and aquaculture business.

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Industry News

• Kemin Animal Nutrition and Health launched its new feed pigment named Organic KEM GLOTM in June 2019. This is an organic feed pigment that brightens the colour of the yolks of organic eggs
• Chemical company Clariant sold its pigment business to Heubach Group and SK Capital Partners in June 2021

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