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: 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.
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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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