Segments - Global Feed Pigments Market by Types (Carotenoids [Alpha-carotene, Beta-carotene, Lycopene, Lutein, Zeaxanthin, Astaxanthin, Canthaxanthin, and Others], Curcumin, Spirulina, Caramel, and Others), Livestock (Ruminant, Poultry, Swine, Aquaculture, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global feed pigments market size was valued at USD 1.2 billion in 2020 expanding at a CAGR of 2.93% during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand for meat, rising consumer awareness about healthy food consumption, acceleration of urbanization, and increasing disposable income.
Pigments are substances that are responsible for the color of skin, eyes, and hair. Feed pigments are extracted from natural pigments in feed and synthetic pigments in feed. Improving the shape of animal products and acting as antioxidants to improve the palatability of feed and help treat various diseases of animals, so as to make the animals healthy, thereby increasing the commercial value of meat by-products.
Food coloring has gained global recognition for improving the quality and quantity of animal products. Changes in lifestyle and consumer preference for healthy diets, organic foods, and increased consumption of meat are the main market drivers. For example, pigments in poultry feed are used to determine the hue of egg yolks and poultry skin. Population growth in developing countries has increased the demand for poultry, ruminant, and other farm animal production, leading to increased market demand for feed pigments.
The report on the global 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 |
Global 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 (Carotenoids [Alpha-carotene, Beta-carotene, Lycopene, Lutein, Zeaxanthin, Astaxanthin, Canthaxanthin, and Others], Curcumin, Spirulina, Caramel, and Others), and Livestock (Ruminant, Poultry, Swine, Aquaculture, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Royal DSM N.V, Kemin Industries Inc., Novous International, Synthite Industries Ltd., and BASF SE |
Based on types, the feed pigments market is segregated into carotenoids, curcumin, spirulina, caramel, and others. Carotenoids are further segregated into alpha-carotene, beta-carotene, lycopene, lutein, zeaxanthin, astaxanthin, and canthaxanthin. The carotenoids segment is expected to represent a key share of the market during the forecast period. Carotenoids play the most important role in all feed pigments. Animals cannot synthesize carotenoids, and their diet depends on these compounds nutritional properties which help to determine the general immune status.
They are considered to be antioxidants, which cure animal allergies, skin diseases, immune disorders, eye diseases, and all cardiovascular diseases to a certain extent. In the pet food industry, people are increasingly aware of the health benefits of carotenoids used for animals, thereby increasing the market for feed pigments. Carotenoids are added to feed as nutrients to maintain animal health and improve product quality. The new form of concentrated carotenoids is expected to help feed formulators provide sufficient carotenoids for animals.
Based on livestock, the feed pigments market is fragmented into ruminant, poultry, swine, aquaculture, and others. The poultry segment is expected to represent a key share of the market during the forecast period. Animal feed pigments are used to enhance the color of animal products such as eggs, milk, and meat. Increasing meat consumption is the major factor driving market. Rising demand for long shelf life, stability and high uniformity while maintaining the coloring efficiency of egg yolk and chicken skin is projected drive the market.
On the basis of regions, the feed pigments market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The United States is the major market for feed pigments, with a market share of 19.2% and a value of 197.43 million US dollars in 2020. The market in Europe is expected to expand at a robust CAGR during the forecast period. Food coloring is added together with other feed additives to improve the color of animal meat and eggs. Food coloring is widely used in the poultry industry.
The global feed pigments market has been segmented on the basis of
Types
Livestock
Regions
Key Players
Key players competing in the feed pigments market include Royal DSM N.V, Kemin Industries Inc., Novous International, Synthite Industries Ltd., and BASF SE
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance,
In June, 2020 BASF SE partnered with China to support rice farmers
In March, 2019 Kemin Industries introduced a new product named Organic KEM GLO for North America Egg Producers