Feed Pigment Market size is estimated to reach $1,251.2 million by 2025 and is poised to grow at a CAGR of 3.2% during the forecast period 2020-2025. Feed pigments play an important role in improving the feed additives and properties of the feed. Feed pigments benefits the animals by strengthening the immune and reproductive systems and enhancing the metabolism levels. They also act as antioxidants to cure many diseases in animals and making them healthy. Feed pigment market is poised to grow at highest CAGR over the forecast period (2020-2025) owing to increasing demand for meat, rising health awareness among consumers.
By Type- Segment Analysis
The global Feed Pigment market based on the Type has Carotenoids, Caramel, Curcumin, Spirulina, Riboflavin and Others. Carotenoids are projected to rapidly increase at a CAGR of 3% during the forecast period 2020-2025 owing to preventing oxidation mechanisms, enhancing immune systems of the animals. Moreover, Lutein, Carotenoids sub-segment is the most common pigment in the feed ingredients which accelerates the growth of the global feed pigment market over the forecast period (2020-2025).
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By Livestock – Segment Analysis
The global Feed Pigment market based on the Livestock has cattle, poultry, aquaculture swine, and pet foods. Swine registered high revenue in the year 2019 and is poised to grow for the forecast period (2020-2025). The swine feed is projected to have a major market share during the period of pork production growth. The aquaculture is set to grow with the highest CAGR during the forecast period 2020-2025 owing to demand for sea food as more people are becoming aware of the health benefits of seafood.
By Geography – Segment Analysis
In 2019, Asia Pacific holds major share of 38% of the overall market share. This is owing to increasing demand for meat and Industrialization. Increasing demand among consumers for pigments in the food industry is contributing to increase in North American feed pigment production capacity over the forecast period (2020-2025). With increase in innovative technologies to increase production capacity and reduce cost, the market is poised to grow at the highest CAGR over the forecast period (2020-2025).
Drivers – Feed Pigment Market
Rise in Demand for Meat products
The Compound Feed market is poised to grow owing to increasing demand for meat products. Increasing use of animal-based food worldwide is projected to fuel demand over the forecast period. In addition, feed pigments increase palatability, organoleptic consequences increase nutritional benefits, and provide other health benefits. With the rise in meat consumption worldwide, the industry is set to meet a huge demand for good quality meat. Demand for dairy products is another factor that is projected to contribute to the growth of the industry.
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Challenges – Feed Pigment Market
Rise in raw materials prices
Increasing raw material prices and stringent regulations, especially in developed markets and the availability of cheap alternatives is another factor that hinders global market growth over the forecast period (2020-2025). On the other hand, maintenance and manufacturing costs for the synthetic pigment processing are the main factors preventing the growth of the market.
Feed Pigment Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Feed Pigment Market. Key companies of this market include BASF Se, D.D Williamson & Co., Inc. (DDW), Guangzhou Leader Bio-Technology Co., Ltd, Innovad AD NV, Kalsec Inc., Kemin Industries Inc. Novus International, Inc., Nutrex NV, PHW Group, Royal DSM N.V, Synthite Industry Ltd, Vitafor NV and Others.
In June 2020, BASF SE entered partnership to support rice farmers in China.
In March 2019, Kemin Industries Inc. launched Organic KEM GLO for North American egg producers.
Geographically, the Asia Pacific area is poised to see extraordinary development over the forecast period (2020-2025) owing to growing demand for meat, increasing preference towards pellets feed.
The major driver for the Feed Pigment market is growing inclination for healthier livestock with rising growth of meat industry and other nutritional values.
Regulatory regulations limit industry vendors and thereby slow down feed production. On the other hand, maintenance and manufacturing costs for the synthetic pigment processing are the main factors preventing the growth of the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Feed Pigment Market report.
Related Reports :
A. Animal Feed Additive Market
B. Cattle Feed Market
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