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.
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.
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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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