Europe Animal Feed Pigments Market Outlook 2031
The Europe animal feed pigments market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of XX% during the forecast period, 2023–2031. The growth of the market is attributed to increasing meat consumption owing to rising population in the region.
Animal 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 animal feed pigments, carotenoids play a crucial role and dominate the animal feed pigments market.
Animals are unable to synthesize carotenoids and rely on their diet for these compounds. Animal Feed pigments are available in natural and synthetic form. They are gaining importance due to various benefits. For instance, animal 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.
Europe Animal Feed Pigments Market Drivers, Restraints, Trends, and Opportunities
- Increasing awareness in the animal feed industry with regards to the health benefits of carotenoids for animals are proliferating the market growth.
- The COVID-19 outbreak disrupted the supply chain across the globe. However, economic recovery is expected to propel the market segment.
- Growing demand for animal protein and high-quality meat products are the major drivers of the feed pigment market.
Scope of Europe Animal Feed Pigments Market Report
The report on the Europe animal feed pigments market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Animal Feed Pigments Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Carotenoid, Curcumin, Caramel, Spirulina, and Others) Animals (Ruminant, Poultry, Swine, Aquaculture, and Others)
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Geographical Scope
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Spain, UK, Germany, France, Italy, Russia, and Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE, Royal DSM N.V., Nutrex N.V., Kemin Industries Inc., and Novus International Inc.
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Europe Animal Feed Pigments Market Segment Insights
Types Segment Analysis
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.
Animals Segment Analysis
On the basis of animals, 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. Animal 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 animal 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.
Geography Segment Analysis
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 animal 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.
Segments
The Europe animal feed pigments market has been segmented on the basis of
Types
- Carotenoid
- Curcumin
- Caramel
- Spirulina
- Others
Animals
- Ruminant
- Poultry
- Swine
- Aquaculture
- Others
Geography
- Spain
- UK
- Germany
- France
- Italy
- Russia
- Rest of Europe
Key Players
Competitive Landscape
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.
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