Press release
Feed Pigment Market to Grow to $2.23 Billion by 2028 with a CAGR of 6.5%, Driven by Specialty and Functional Feed Demand
The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.Feed Pigment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $2.23 billion In 2028 At A CAGR Of 6.5%:
The feed pigment market size has grown strongly in recent years. It will grow from $1.62 billion in 2023 to $1.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to consumer demand for meat and poultry products, health and aesthetic benefits, regulatory support for feed additives, focus on animal welfare, preference for natural pigments, nutritional requirements in pet food.
The feed pigment market size is expected to see strong growth in the next few years. It will grow to $2.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to demand for specialty and functional feeds, sustainable sourcing of pigments, government initiatives for animal nutrition, expansion of the poultry industry, increasing investments in feed industry. Major trends in the forecast period include technological advancements in pigment production, innovations in pigment sources, focus on egg yolk coloration, development of customized pigment blends, antioxidant properties.
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Feed Pigment Market Major Segments
The feed pigment market covered in this report is segmented -
1) By Product: Carotenoids, Curcumin, Caramel, Spirulina, Other Products
2) By Source: Natural, Synthetic
3) By Livestock: Swine, Poultry, Ruminants, Aquatic Animals, Other Livestock
Key Driver - Surge In Meat Consumption To Drive Market Growth
Rising meat consumption is expected to propel the growth of the feed pigment market going forward. Meat consumption refers to the amount of meat that is consumed by individuals or populations. Feed pigments are added to animal feed to enhance the color of meat, poultry, and seafood, which makes them more visually appealing to consumers. For instance, in July 2021, according to the United Nations Food and Agricultural Organization (FAO), a specialized agency of the United Nations that leads international efforts to defeat hunger and improve nutrition and food security, the global meat consumption is expected to increasing by 1.7 % per year through 2022 Therefore, rising meat consumption is driving the growth of the feed pigment market.
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Prominent Trend - Product Innovations Transforming The Feed Pigment Market
Product innovations are a key trend gaining popularity in the feed pigment market. Major companies operating in the market for feed pigment are creating innovative feed pigments such as natural feed-grade astaxanthin to sustain their position in the market. For instance, in July 2021, AstaReal, a Sweden-based company focused on the production of natural astaxanthin, introduced NOVASTA, a natural red pigment and antioxidant that contains carotenoids, proteins, carbohydrates, and essential fatty acids to support overall health and wellness for companion animals, livestock and farmed fish. It is used in dry and wet pet food formats, powder mixes, extruded treats, soft treats, liquid solutions, and other formats.
Feed Pigment Market Players
Major companies operating in the feed pigment market report are BASF SE, Behn Meyer Group, D.D. Williamson & Co. Inc., Guangzhou Leader Bio-Technology Co. Ltd., Kemin Industries Inc., Novus International Inc., Nutrex NV, Royal DSM NV, Vitafor NV, Sudarshan Chemical Industries Limited, Cargill Incorporated, Kalsec Inc., Koel Colors Pvt. Ltd., Clariant AG, Kolortek Co. Ltd, Sandream Impact LLC, Chr. Hansen Holding A/S, Bordas S.A., DSM Nutritional Products AG, Evonik Industries AG, Synthite Industries Pvt. Ltd., Guangzhou Yuxin Feed Additive Co. Ltd., Hebei Shuntian Biotechnology Co. Ltd., Ferro Corporation, Koninklijke DSM N.V., Innovad AD NV, Lonza Group AG, PHW Group, Alltech Inc., The Archer-Daniels-Midland Company
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Largest And Fastest Growing Region In The Market
North America was the largest region in the feed pigment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global feed pigment market during the forecast period. The regions covered in the feed pigment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Feed Pigment Market Report Structure
3. Feed Pigment Market Trends And Strategies
4. Feed Pigment Market - Macro Economic Scenario
5. Feed Pigment Market Size And Growth
…..
27. Feed Pigment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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