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According to the research report, the global Feed Pigment Market size was valued at USD 887.52 Million in 2021 and is expected to reach USD 1,118.12 Million by 2030, to grow at a CAGR of 2.6% during the forecast period.
Pigments are substances that provide pigment to materials. Feed pigments are extracted from natural and synthetic carotenoids. Feed pigments are used to improve the nutritive value and the appearance of the animal feed, including eggs, milk, and meat. They are majorly extracted from vegetable sources and then preserved and mixed with appropriate material to enhance the color of the products. They have the ability to cure allergies and boost the immune system of animals. Carotenoids, spirulina, curcumin, and caramel are the types of feed pigments.
However, carotenoids are majorly used as they have very high nutritional benefits, and it also dominates the feed pigments market. They provide aid to cure allergies, skin diseases, immune disorders, eye disorders as well as cardiovascular diseases present in the animals. The health benefits of carotenoids for animals are further driving the feed pigments market.
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Feed Pigment Market: Growth Drivers
The global feed pigment market is experiencing maximum growth due to the health benefits of carotenoids for animals, the industrialization of pork, poultry, and aquaculture businesses, increasing consumption of meat, and growing demand for pellet feed. Other driving factors fueling the market growth include the adoption of astaxanthin feed pigment among feed manufacturers, the increasing use of feed pigments in the poultry feeds to improve egg yolk and broiler skin pigmentation. Feed pigments act as hormone precursors and colorants antioxidants that help to reduce the risk of various diseases among animals and improve animal health. This factor is also expected to boost the demand for feed pigments over the forecast period and drive the global feed pigments market. Moreover, R&D strategies develop cheaper feed pigment with superior properties promise is expected to create opportunities for market participants.
Global Feed Pigment Market: Report Scope
By Type, By Carotenoids Source, By Livestock, By Region
BASF SE, Behn Meyer Group, Bio-Technology Co., Ltd., Cargill Incorporated, D. Williamson & Co., Inc., Guangzhou Leader Bio-Technology Co., Ltd., Innovad AD NV/SA, Kalsec Inc., Kemin Industries, Inc., Novus International, Inc., Nutreco Holdings, Nutrex NV, PHW Group, Royal DSM NV, and Vitafor NV
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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Feed Pigment Market: Market Segmentation
Based on type, the carotenoid segment dominates the market with the largest market share and is expected to continue its dominance with the highest CAGR during the forecast period. The considerable share of the segment can be attributed to the benefits provided by carotenoids. They are added to the animal feed as they provide nutrients value that supports animal health and enhance product quality. However, the spirulina segment is anticipated to witness the fastest growth rate in the forecasting years owing to growing awareness in the animal feed pigment industry regarding the health benefits offered by these feed pigments. Spirulina segment also helps cure allergies, skin diseases, eye disorders, and others
On the basis of geography, North America witnessed the largest market share in 2021 and is expected to continue its dominance over the forecast period. The key factors contributing to this share of the region include the growing production of feed pigment in the region as well as its increasing demand among the consumers across the food industry. The younger population is focusing on healthier food due to health concerns. This factor is expected to fuel the market’s growth. Moreover, the leading industry manufacturers in North America are seeking to develop their R&D activities by adopting innovative technologies in order to offer a wide range of products.
Browse the full “Feed Pigment Market Share, Size, Trends, Industry Analysis Report, By Type; By Carotenoids Source (Natural, Synthetic), By Livestock (Swine, Poultry, Ruminants, Aquatic animals, Others); By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/feed-pigment-market
Feed Pigment Market: By Type Outlook
Feed Pigment Market: By Carotenoids Source Outlook
Feed Pigment Market: By Livestock Outlook
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