Feed
Pigment Market: Overview
Pigment
is a substance that provides pigment to tissue. Pigments are
responsible for the colors of skin, eyes, and hair. Feed pigment is a
type of pigment which is derived from natural pigments in feed, and
synthetic pigments in feed. Feed pigments provide aid to increase the
commercial value of the meat by-products by improving the form of the
animal products, and act as antioxidants to increase the palatability
of the feed and to support cure several diseases in the animals which
in turn make the animals healthy.
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Feed
Pigment Market: Drivers & Restraints
The
major factors driving the growth of feed pigment market are growing
demand of strong meat demand, rising health awareness among consumers
regarding consumption of healthy food, increasing urbanization, and
rising disposable income. Moreover, growing inclination for healthier
livestock with rising growth of meat industry is alleged to drive the
growth of the feed pigment market. In addition, feed pigments
increase palatability, organoleptic developments nutritional
benefits, and also offers other health benefits. Among the type of
feed pigment, caramel, curcumin, carotenoids, and spirulina are
limited feed pigments widespread in the feed pigment market.
Carotenoids segment will dominate the growth of feed pigment market
and are plugged to account the significant growth over the forecast
years. In terms of livestock, poultry industry will register to boost
the growth of feed pigment market followed by swine market. Shifting
preference towards pellet feed consumption is likely to assistance
the growth of feed pigment market. Cheaper substitute availability is
another factor which is slated to hamper the global market growth. On
the other hand, the major factor restraining the growth of market are
management and manufacture costs for the processing of synthetic
pigments. Moreover, natural pigments such as marigold are generally
seasonal plants which heavily depend on environmental conditions and
other external issues.
Feed
Pigment Market: Market Segmentation
The
feed pigment market is segmented into four parts based on the type,
source, livestock type and geography.
Based
on the source type the feed pigment market is segmented into:
- Vegetables
- Fruits
- Others
Based
on the application type the feed pigment market is segmented into:
- Food & Beverages
- Pharmaceutical
- Nutraceuticals
- Others
Feed
Pigment Market: Regional Outlook
Regarding
geography, feed
pigment market has been categorized into five key regions
including North America, Western Europe, Eastern Europe, APEJ, Japan,
Latin America, and the Middle East & Africa. Feed pigment market
is expected to register healthy CAGR during the forecast period.
Asia-Pacific represents the significantly high market share and grow
with comparatively high CAGR in forecast period. North America is
experiencing the rapid increase in the production capacity of feed
pigment owing to growing demand among consumers for pigments in food
industry particularly in the U.S. Major factors that are boosting the
growth of feed pigment market in the region include rising health
concerns among the young population, and increasing production rate.
Feed pigment market for Asia Pacific is also expected to witness
rapid growth during the forecast period primarily attributed to the
growth of dietary supplements market, especially in China and India.
Moreover, the leading players are strategically focusing on
strengthening their R&D proficiencies by capitalizing in advanced
technology to offer diversified product portfolios increasing the
nutritive benefits of the feed pigments. Asia-Pacific is the largest
market with China merging as the forerunner with a huge market share.
Other traditional markets include countries like India, Brazil and
Mexico among others.
Feed
Pigment Market: Key Players
Some
of the key players identified in the feed pigment market are:-
- BASF SE
- D.D. Williamson & Co., Inc. (DDW)
- Guangzhou Leader Bio-Technology Co., Ltd
- Innovad AD NV/SA
- Kalsec Inc.
- Kemin Industries Inc.
- Novus International, Inc.
- Nutrex NV
- PHW Group
- Royal DSM N.V.
- Synthite Industries Ltd
- Vitafor NV
- Others
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