The Europe Feed Pigments market is estimated to register a CAGR of 3.8% during the forecast period, 2021-2028. The growth of the market is attributed to increasing meat consumption owing to rising population in the region.
Feed pigments are the compounds that are used to enhance the appearance and nutritive value of animal feed. These pigments are used to improve the color of the products obtained from the animals, including eggs, milk, and meat. Among all the feed pigments, carotenoids play a crucial role and dominate the feed pigments market. Animals are unable to synthesize carotenoids and rely on their diet for these compounds.
Feed pigments are available in natural and synthetic form. They are gaining importance due to various benefits. For instance, feed pigments offer support to the growth of an animal in several stages of its lifecycle. They are also associated with oxidation-preventing mechanisms and enhances the immune system.
The report on the Europe feed pigments market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Europe Feed Pigments Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Types (Carotenoid, Curcumin, Caramel, Spirulina, and Others) Animals (Ruminant, Poultry, Swine, Aquaculture, and Others) |
Geographical Scope | Spain, UK, Germany, France, Italy, Russia, and Rest of Europe |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | BASF SE, Royal DSM N.V., Nutrex N.V., Kemin Industries Inc., and Novus International Inc. |
Based on types, the market is divided into carotenoid, curcumin, caramel, spirulina and others. The carotenoids segment is projected to account for a large market share during the forecasted period.
Carotenoids are the most widely used pigments in the region. They are being used in commercial egg production to add color and lutein to the egg yolk. Lutein increases the nutritional value of the egg. They are also efficient antioxidants and are a part of the antioxidant defense system in organisms. This makes the use of carotenoids more preferable in the region.
On the basis of applications, the market is segregated into ruminant, poultry, swine, aquaculture, and others. The aquaculture segment is projected to exhibit a high CAGR during the forecast period. Feed pigments such as carotenoids are being increasingly used in aquaculture to make fish look more appealing to tourists. For instance, research says the flesh of fresh trout and salmon should ideally have 7-8 mg/kg of carotenoid but the value is only 2-4 mg/kg in the fish fed without pigment additives. This high demand for feed pigments is driving the market during the forecasted period. On the other hand, the poultry segment is expected to grow at a healthy CAGR during the forecast period. Rising demand for ready-to-eat chicken products is driving the growth of the market segment.
In terms of geography, the market is classified as Spain, UK, Germany, France, Italy, Russia, and Rest of Europe. Spain is expected to account for a significant market share during the forecast period. The segment growth in the country is owing to the rising demand for feed pigments in poultry, cattle, fish, and farms. Conversely, the market in the UK is expected to grow at a steady rate owing to increasing population and growing poultry industry in the country.
The Europe feed pigments market has been segmented on the basis of:
Some of the major players including BASF SE, Novus International Inc., and Kemin, Royal DSM N.V.
The major strategies adopted by key players are acquisitions, mergers, increasing the production capacity, and investing in R&D. Moreover, they’re engaging in partnerships with local manufacturers to expand their market share.
The Europe feed pigments market has been segmented on the basis of:
Some of the major players including BASF SE, Novus International Inc., and Kemin, Royal DSM N.V.
The major strategies adopted by key players are acquisitions, mergers, increasing the production capacity, and investing in R&D. Moreover, they’re engaging in partnerships with local manufacturers to expand their market share.
Some other reports from this category!