The total feed pigment market is a vibrant landscape poised for significant growth, with a projected value of USD 2.9 billion by 2034, translating to a compelling CAGR of 6.6%. This surge is driven by a confluence of factors, making it a prime target for B2B investors seeking lucrative opportunities in the health and wellness sector.
The demand for feed pigments is fueled by a multitude of factors, creating a robust market environment:
- Soaring Meat Consumption: Consumers worldwide are indulging in more meat products, driving the need for visually appealing and healthy animal feed. Feed pigments enhance the color and quality of meat, aligning perfectly with this trend.
- Health Benefits for Animals: Carotenoids, a prominent type of feed pigment, offer a plethora of health benefits for animals, including improved immunity, antioxidant properties, and enhanced performance. This focus on animal well-being translates to increased demand for feed pigments.
- Industrialization of Animal Farming: The burgeoning industrialization of hog, poultry, and aquaculture industries necessitates large-scale production of high-quality animal feed. Feed pigments play a crucial role in ensuring consistent coloration and improved product quality.
“A major growth driver is farmers’ continued acceptance of feed pigments. Furthermore, increased awareness, as well as the presence of superior R&D facilities, is facilitating market expansion. As a result, the worldwide feed pigment market will grow at a steady 6.6% CAGR throughout the projected period ,” predicts FMI.
Growing Factors: A Spectrum of Opportunities
Several key factors are propelling the feed pigment market towards a bright future:
- Rising Health Consciousness: Consumers are increasingly prioritizing preventative healthcare and natural solutions for themselves and their pets. This focus on holistic health extends to animal feed, creating a demand for natural and functional feed pigments.
- Aging Population: The global population is aging rapidly, with a corresponding rise in concerns about cognitive decline. Feed pigments with potential benefits for animal brain health present a lucrative avenue for growth.
- Shift Towards Plant-based Pigments: Meeting the growing consumer demand for sustainable and clean-label products, the market for plant-based feed pigments is experiencing a surge. This presents a unique opportunity for B2B investors to capitalize on this eco-friendly trend.
It includes in-depth insights into the feed pigment market. Some of these are:
- The estimated value of the market was at USD 1.5 billion 2024. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Asia Pacific and North America dominated the global feed pigment market.
- To cater to this growing demand, companies are developing innovative production methods to increase production capacity and reduce costs.
- Consumers are unlikely to invest as willingly amid a rising pandemic panic. Furthermore, disturbances to the supply chain are causing sleepless nights to leading market players. Hence, manufacturers are gearing up to come back after coronavirus outbreak.
- Poultry meat is the most consumed by humans with per capita consumption of 30.6 kilograms per year, followed by pork with per capita consumption of 23.5 kilograms per year and beef and veal with per capita consumption of 14.8 kilograms per year.
Carotenoids have been proven helpful in protecting against light and oxygen damage. They are responsible for muscle pigmentation in fish which is intended for fish consumption and skin which is intended for fish keeping. Feed pigment, if supplemented in right quantities, would lead to the proper supply of essential nutrients.
While aforementioned factors will give impetus to the market, supply chain disruptions may hamper the growth to an extent. Restrictions on travel, lockdown and other precautionary measures undertaken to contain the spread of coronavirus are likely to disrupt operations, inevitable negatively impacting the market.
Who is Winning?
Some of the leading players operating in the feed pigment market are BASF SE (Germany), Royal DSM NV (Netherlands), Kemin Industries, Inc. (US), Novus International, Inc. (US), Guangzhou Leader Bio-Technology Co., Ltd. (China), D.D. Williamson & Co., Inc. (DDW) (US), Nutrex NV (Belgium), Behn Meyer Group (Malaysia), Vitafor NV (Belgium), and Innovad AD NV/SA (Belgium)
To improve their position in this industry, these major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product releases, extensions, alliances, joint ventures, collaborations and others.
Comprehensive Industry Report: A Full Market Analysis
Segmentation
By Product Type:
- Carotenoids
- â-carotene
- Lutein
- Lycopene
- Astaxanthin
- Zeaxanthin
- Canthaxanthin
- Others
- Curcumin
- Caramel
- Spirulina
- Others
By Source:
- Natural
- Synthetic
By Livestock:
- Swine
- Poultry
- Ruminants
- Aquatic animals
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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