Global Feed Pigments Market:
Market Outline: Global Feed Pigments Market
Feed pigments are added to animal feed to enhance the palatability, colour, form, and increase the commercial values of meat derivatives. Feed pigments also act as anti-oxidants and make the animal healthy by curing various diseases. Feed pigments are classified into natural feed pigments and synthetic feed pigments. The most commonly used feed pigments include carotenoids, caramel, spirulina, and curcumin.
Market Dynamics: Global Feed Pigments Market
Increase in the demand for healthy & quality meat, a rise in awareness about nutritive food in consumers, upsurge in the disposable income, and rapid industrialization in poultry and pork meat production market are anticipated to fuel the growth of feed pigments market over the forecast period. Moreover, rise in inclination towards strong and healthier livestock for better production, increase in awareness about the feed pigments, and growing prevalence of various animal diseases are expected to boost the feed pigments market over the forecast period. However, the high manufacturing cost for the synthetic feed pigments and stringent regulatory guidelines might restrain the growth of Global feed pigments market over the forecast timeframe.
Market Scope: Global Feed Pigments Market
It is segmented on the basis of pigment type, source, and livestock
Based on the pigment type, It is segmented into the following:
Carotenoids
Lycopene
Lutein
Zeaxanthin
Astaxanthin
Beta-carotene
Caramel
Curcumin
Spirulina
Others
Based on the source, It is segmented into the following:
Natural feed pigments
Synthetic feed pigments
Based on the livestock, It is segmented into the following:
Poultry
Swine
Ruminants
Aquatic animals
Equine
Others
Market Summary: Global Feed Pigments Market
It is growing at a significant CAGR due to increase in the use of feed in the livestock industry. Majority of market players are focusing on the synthesis of newer feed pigments with novel technologies. Increase in the use of feed pigments by meat production industries for improving the organoleptic properties and health benefits are anticipated to fuel the feed pigment market. Moreover, acquisitions and mergers collaborations, product approvals, and product launchings are the strategies followed by the companies for increasing their revenue in feed pigments market. For instance, in October 2011, Kalsec Inc. inked an agreement with OmniActive Health Technologies for the production, marketing, and distribution of natural zeaxanthin around the globe. In addition, rapid industrialization of poultry and pork meat production expected to upsurge in the revenue of feed pigments market over the forecast timeframe.
Regional Analysis: Global Feed Pigments Market
Geographically,It is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America feed pigments market holds a significant share in global feed pigment market owing to increase in the synthesis of newer feed pigments, high awareness about the animal health and feed pigments usage, and growing demand for healthy meat are anticipated to fuel the feed pigments market. Europe feed pigments market driven by the increase in the farming of aquatic animals majorly in Norway, Denmark, and Ireland, rise in the demand for healthy meat, raising awareness about the feed pigments benefits, and high disposable income are expected to create the demand for feed pigments in the region. Asia Pacific feed pigments market exhibiting significant growth, owing to rise in population demanding for healthy meat, increase in the number of meat production industries, and increase in disposable income are the factors drive the feed pigments market in the region. Latin America feed pigments market driven by the increase in the farming of aquatic animals in the region.
Market Participants: Global Feed Pigments Market
Some of the players in Global feed pigments market are D.D. Williamson & Co., Inc. (DDW) (U.S.), BASF SE (Germany), Kemin Industries, Inc. (U.S.), Royal DSM N. V. (Netherlands), Novus International, Inc.(U.S.), Synthite Industries Ltd (India), Nutrex NV (Belgium), Guangzhou Leader Bio-Technology Co., Ltd (China) to name a few.
Notable Market Developments: Feed Pigments Market
In July 2017, Parry Neutraceuticals inked an agreement with Synthite industries for the extraction of Phycocyanin, a natural blue feed pigment found in the spirulina
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