Feed Pigment Market Size & Growth Analysis to 2030

The global feed pigment market size is estimated to be around USD 1 billion in 2021 and expected to register a significant CAGR of over 3% during the forecast period 2022 to 2028. The increasing consumption of meat and meat products around the world is a primary factor driving market growth. According to the Food and Agriculture Organization (FAO), global meat production was estimated at 337.2 million tonnes in 2020. Furthermore, the rising awareness regarding livestock health and the health benefits associated with carotenoids is further expected to fuel the market over the forecast period. Moreover, the increasing industrialization of pork, poultry, and aquaculture businesses is further expected to uplift the market growth in developing economies.

Market Drivers:

Increasing Demand for Meat and Poultry Products: The growing global population, rising disposable incomes, and changing dietary preferences have led to an increased consumption of meat and poultry products. Feed pigments play a crucial role in enhancing the color and appearance of these products, making them more appealing to consumers. The increasing demand for meat and poultry products drives the adoption of feed pigments.

Need for Animal Nutrition and Health: Feed pigments provide essential nutrients and bioactive compounds that contribute to animal nutrition and health. Certain pigments, such as carotenoids, have antioxidant properties and support immune function in animals. They also play a role in reproductive health and overall well-being. The focus on animal nutrition and health drives the demand for feed pigments.

Growing Aquaculture Industry: The aquaculture industry has witnessed significant growth due to the increasing demand for seafood products. Feed pigments are essential in aquaculture to improve the coloration of fish and crustaceans, such as salmon, trout, and shrimp. Vibrant coloration is associated with better market value and consumer preference. The expansion of the aquaculture industry drives the adoption of feed pigments.

Consumer Preference for Natural and Healthy Products: There is a growing consumer preference for natural and healthy food products, including meat, eggs, and dairy products. Natural feed pigments derived from sources such as plants, algae, and fruits are preferred over synthetic alternatives. These natural pigments provide an opportunity for producers to meet consumer demand for clean label and natural products. The consumer preference for natural and healthy products drives the adoption of feed pigments.

Regulatory Factors and Animal Welfare: Regulatory authorities in many countries have set standards and guidelines for animal feed, including requirements for feed additives and colorants. Feed pigments used in animal feed must comply with these regulations to ensure animal welfare and consumer safety. The need to meet regulatory requirements and adhere to animal welfare standards drives the use of approved feed pigments.

Advancements in Pigment Manufacturing Technologies: Technological advancements in pigment manufacturing processes, such as extraction, purification, and encapsulation techniques, have improved the quality, stability, and bioavailability of feed pigments. These advancements enable the development of highly concentrated and bioactive pigments for animal feed. The progress in manufacturing technologies drives the growth of the feed pigment market.

Focus on Product Differentiation and Branding: The livestock and aquaculture industries are competitive, and producers strive to differentiate their products in the market. The use of feed pigments allows producers to enhance the color and appearance of animal-derived products, creating a unique selling proposition and improving brand recognition. The focus on product differentiation and branding drives the demand for feed pigments.

Increasing Awareness of Nutritional Benefits: The awareness of the nutritional benefits of feed pigments has been growing among livestock and aquaculture producers. For example, carotenoids are known to provide antioxidant properties, support vision health, and improve reproductive performance in animals. Producers are increasingly incorporating feed pigments to optimize animal nutrition and performance, leading to the growth of the feed pigment market.

Market Snapshot:

Market Insights:

The carotenoids segment dominated the global feed pigment market in 20200

The global feed pigment market is bifurcated into type, source, livestock, and geography. On the basis of type, the market is segmented into carotenoids, curcumin, caramel, spirulina, and others. The carotenoids segment dominated the global market in 2020 and is expected to maintain its dominance over the forecast period. The health benefits associated with the product for livestock are a primary factor to drive the segment growth. The health benefits associated with carotenoids such as antibacterial, anti-inflammatory, anticancer, anti-diabetic, and immunomodulator are expected to increase its demand in feed pigments. On the flip side, the spirulina segment is expected to register the highest growth rate over the forecast period.

The poultry segment dominated the global feed pigment market owing to the growing consumption of poultry product

On the basis of livestock, the market is segmented into swine, poultry, ruminants, aquatic animals, and others. The poultry livestock segment dominated the global feed pigment market in 2020 and is expected to grow at the same trend over the forecast period. The increasing consumption of poultry products such as meat and eggs is one of the prominent factor to drive the segment growth. According to the FOA, the global poultry meat production was estimated at around 130 million tonnes in 2020. Furthermore, the increasing focus of meat producers on additives quality is further expected to fuel the segment growth over the forecast period.

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The feed pigment comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The feed pigment market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Type:

• Carotenoids
  • a-carotene
  • Lutein
  • Lycopene
  • Astaxanthin
  • Zeaxanthin
  • Canthaxanthi
  • Others
• Curcumin
• Caramel
• Spirulina
• Others

By Source:

• Natural
• Synthetic

By Livestock:

• Swine
• Poultry
• Ruminants
• Aquatic animals
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

North America held the largest share of the feed pigment market in 2020

Geographically, North America dominated the global feed pigment market in 2020 and accounted to hold the largest revenue share of around one-third of the market. The growing demand for meat products coupled with the increasing production of feed pigments is a major factor to drive the market growth in the region. Furthermore, the rising awareness regarding healthy food due to the rising health concern among millennials is further expected to fuel the market growth in North America. On the other hand, the Asia Pacific is expected to register the fastest CAGR due to the growing population and the increasing disposable income per capita in the region.

Competitive Assessment:

Some of the major market players operating in the global feed pigment market are BASF SE, Bio-Technology Co., Ltd., Cargill Incorporated, Behn Meyer Group, and D. Williamson & Co., Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• BASF SE
• Bio-Technology Co., Ltd.
• Cargill Incorporated
• Behn Meyer Group
• Williamson & Co., Inc.
• Innovad AD NV/SA
• Kemin Industries, Inc.
• Kalsec Inc.
• Nutreco Holdings
• Novus International, Inc.

Key Questions Answered by Feed Pigment Market Report

• Global feed pigment market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Feed pigment submarket forecasts from 2022-2028 covering the market by type, by source, by livestock, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level feed pigment markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market