The global feed pigment market was valued at USD 2.2 billion in 2023 and is anticipated to reach USD 2.27 billion in 2024 from USD 2.97 billion by 2032, growing at a (CAGR) of 3.4% from 2024 to 2032.
Rising demand for meat, growing health consciousness among consumers to make healthy food, rising disposable incomes, and rising need for healthier livestock owing to the growth of the meat industry are some of the factors driving the market. However, factors like the high expense of synthetic pigments and the scarcity of natural pigments are restraining the growth of the market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
3.4% |
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Segments Covered |
By Type, Carotenoids Source, LiveStock, and Region |
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Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
BASF SE, Royal DSM N. V., Kemin Industries, Inc., D.D. Williamson & Co., Inc. (DDW), Guangzhou Leader Bio-Technology Co., Ltd, Behn Meyer Group, Innovad AD NV/SA, Novus International, Inc., Synthite Industries Ltd and Vitafor NV. |
Further based on Carotenoids, the market is further segmented into Beta-Carotene, Canthaxanthin, Lutein, Astaxanthin, Lycopene, Zeaxanthin, and Other Carotenoids. Carotenoids dominated the market in 2015 owing to its widespread usage.
Europe accounted for the largest share globally owing to the increased awareness about the benefits of feed pigments. Asia-Pacific is expected to be the fastest-growing market owing to factors like large population, growing health consciousness among people and rising disposable incomes.
The key market players in the global feed pigment market are BASF SE, Royal DSM N. V., Kemin Industries, Inc., D.D. Williamson & Co., Inc. (DDW), Guangzhou Leader Bio-Technology Co., Ltd, Behn Meyer Group, Innovad AD NV/SA, Novus International, Inc., Synthite Industries Ltd and Vitafor NV.
By Type
By Carotenoids Source
By Livestock
By Region
Frequently Asked Questions
Key trends influencing the market include the shift towards natural and organic feed additives due to growing concerns over synthetic additives' environmental and health impacts. There's also a focus on sustainable and environmentally friendly production processes. Technological advancements in feed pigment production and application are also shaping the market.
The growth of the feed pigments market is driven by several factors, including increasing demand for meat, poultry, and aquaculture products, rising consumer preference for the visual appeal of animal-derived foods, and growing awareness of the health benefits of natural feed additives for livestock.
Challenges include regulatory constraints, the high cost of natural pigments compared to synthetic ones, and the need for ongoing research to prove the efficacy and safety of new pigment sources. Additionally, there is a growing consumer demand for clean-label products, which can limit the use of certain synthetic pigments.
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