The global feed
pigment market is expected to grow from USD 1,217.4 million in 2022 to
USD 1,771.4 million by 2032, at a CAGR of 6.2% from 2022 to 2032. Feed pigments
are used to improve the color of the products including egg, meat, and milk.
The growing demand for the animal protein and quality meat products are the
major drivers of feed pigment markets. The report offers a comprehensive
overview of the market, covering key growth drivers, restraints, opportunities,
and prevailing trends. It uses unique research methods to offer the most
accurate analysis of the market.
It includes in-depth insights into the feed pigment
market. Some of these are:
- The
estimated value of the market was at US$ 1.1 Bn in 2019. 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.
“Shifting inclination towards pellet feed consumption is
expected to further aid the global market growth,” said a lead analyst at FMI.
Impact of Coronavirus on Overall Market
Aquaculture is one of the fastest-growing food-producing
crops in the world. It is a challenge to recreate the exact natural color of
fish, and the use of carotenoid pigments is successful in providing a wide
variety of colors in fish. Today, due to spread of numerous infectious
diseases, the fish population suffers from severe losses. In the aquaculture
industry, the use of pesticides, antimicrobial drugs, and disinfectant for
disease prevention has contributed to the development of resistant bacterial
strains.
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.
Get Valuable Insights into Feed Pigment Market
By Product Type:
- Carotenoids
- รข-carotene
- Lutein
- Lycopene
- Astaxanthin
- Zeaxanthin
- Canthaxanthin
- Others
- Curcumin
- Caramel
- Spirulina
- Others
By Source:
- Natural
- Synthetic
By Livestock:
- Swine
- Poultry
- Ruminants
- Aquatic
animals
- Others
Read Full Report: https://www.futuremarketinsights.com/reports/feed-pigment-market