Feed Pigment Market Size to Reach USD 1,118.12 Million by 2030 | CAGR: 2.6%

The global feed pigment market size is expected to reach USD 1,118.12 million by 2030 according to a new study by Polaris Market Research.

The growing need for nutritious meat and increasing awareness among individuals for healthy food consumption is the major driving factor for the industry's growth. Additionally, increasing responsiveness for the poultry and aquaculture business is propelling the industry demand.

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Furthermore, rising health benefits of these such as boosted palatability and organoleptic developments also benefit animals by increasing their reproduction and immune systems and raising the metabolism level, which, in turn, augment the industry demand in the near future.

Based on livestock, the poultry livestock segment is dominating the global industry with the highest revenue shares. Factors such as the growing consumption of poultry products raise the focus of the meat producers to feed high-quality additives to the birds is chiefly attributed to the segment growth. In contrast, the ruminants segment is exhibiting a considerable growth rate in the forecasting period due to the rising demand for dairy products, which stimulates the segment growth.

The growing demand for these products owing to the health benefits of the carotenoids for animals is the major driving factor for the industry's growth worldwide. These are used for enhancing the appearance of the animals and their nutritional value. Carotenoids acts as the significant factor that may accelerate the industry demand. This presents high nutritional values and increases the development of the white blood cells that help stimulate the animal's immune status.

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The characteristics of carotenoids can cure immune disorders, antioxidants to cure allergies, eye disorders, and skin diseases. The increasing awareness for the animal food industry and health benefits products is expected to boost the industry's growth. Market participants include Behn Meyer Group, BASF SE, Novus International, Inc., Bio-Technology Co., Ltd., Cargill Incorporated, Guangzhou Leader Bio-Technology Co., Ltd., D. Williamson & Co., Inc., Innovad AD NV/SA, Kalsec Inc., Kemin Industries, Inc., Nutreco Holdings, Nutrex NV, Royal DSM NV, PHW Group, and Vitafor NV are some of the key players operating in the global industry.

Several leading players in the market are frequently taking strategic actions such as mergers & acquisitions, a product launch for gaining significant prominence across the globe. For instance, in June 2021, Clariant- a specialty chemical company, sold its pigment business to a consortium led by SK Capital Partners and Heubach group. Similarly, in February 2021, EW Nutrition acquired Novus International's Feed quality and pigment business.

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Polaris Market Research has segmented the feed pigment market report on the basis of type, carotenoids source, livestock, and region:

Feed Pigment, Type Outlook (Revenue - USD Million, 2018 - 2030)
Carotenoids
a-carotene
Lutein
Lycopene
Astaxanthin
Zeaxanthin
Canthaxanthin
Others
Curcumin
Caramel
Spirulina
Others

Feed Pigment, Carotenoids Source Outlook (Revenue - USD Million, 2018 - 2030)
Natural
Synthetic
Feed Pigment, Livestock Outlook (Revenue - USD Million, 2018 - 2030)
Swine
Poultry
Ruminants
Aquatic animals
Others

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