(MENAFN Editorial) Feed Pigments Market Global Information by Type (Curcumin, Carotenoids, Spirulina and others), Source (Natural Feed Pigments and Synthetic Feed Pigments), Livestock (Poultry, Swine, Ruminants and others) and Region – Forecast till 2023
Feed pigments are either naturally-derived or synthetic substances used to enhance the shade of the animal skin which is an important marketing factor. The North American market for feed pigments is expected to keep growing over the forecast period due to rising meat consumption and increasing health awareness across the globe. North America is expected to have a substantial growth over the forecast period, 2018 to 2023. In North America, the U.S. is the major importer of poultry and meat products, which has opened the opportunity for the feed pigments market in this region. Moreover, growing demand from poultry and livestock industry are boosting the growth of feed pigments in this region.
The feed pigments help in stimulation and secretion of digestive enzymes, which, in turn, stimulate the immune response in the livestock population. Additionally, feed pigments market is observing an exponential growth based on its increasing usage in the feed industry. The major types of feed pigments available in the market include Curcumin, Carotenoids, Spirulina and others. Furthermore, rising concerns regarding livestock health among the consumers is adding fuel to the growth of the feed pigments market. However, adulteration may hamper the market growth in the upcoming years. Nevertheless, all these factors are expected to lead the growth of the North American feed pigments market at a CAGR of 3.6% during the review period, 2017-2023.
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Major Key Players Review:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major feed pigments players. It further includes product portfolios, developments of leading players, which includes
Some of the key players profiled in the Global Feed Pigments Market Novus International, Inc. (U.S.), Nutrex NV (Belgium), BASF SE (Germany), Royal DSM N.V. (The Netherlands), Kemin Industries Inc. (U.S.), Behn Meyer Group (Singapore), Synthite Industries Ltd (India), Kalsec Inc. (U.S.)
The Feed Pigments Market is segmented on the basis of type, source, livestock, and region.
- The demand for feed pigments is high from poultry and livestock holders
- Asia Pacific region is dominating the global feed pigments market
- Feed pigments market is segmented based on type, which includes carotenoids, curcumin, spirulina, and others. Among them, the carotenoids segment is anticipated to dominate the market followed by the spirulina segment. Moreover, the curcumin segment is witnessed to have a substantial growth over the forecast period.
- Based on source, the feed pigments market is segmented into natural feed pigments and synthetic feed pigments. The natural feed pigments are projected to have a potential growth over the forecast period.
- Based on the livestock, the feed pigments market is segmented into poultry, ruminants, swine, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products globally. However, the ruminants segment is witnessed to gain a moderate growth over the estimated period.
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Feed Pigments Market is segmented into Europe, Asia Pacific, North America and rest of the world (RoW). Asia Pacific region is dominating the feed pigments market followed by North America. In Asia Pacific region, China is the major contributor of poultry products, which, in turn, boosts the market growth in this region. Furthermore, increasing consumption of poultry and meat products and rapidly growing population in developing countries of Asia Pacific is giving a push to the growth of the feed pigments market.
Moreover, rising demand for poultry products in countries like the U.S., Canada, and Mexico in the North American region is projected to boost the feed pigments market during the forecast period. Additionally, the major key players are actively involved in the research & development of the product conforming to North American regulations for feed pigments.
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