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(MoneyNewsWire.Net, January 30, 2018 ) Global Feed Pigment Market was worth USD 978.24 million in 2017 and is expected to reach USD 1.156 billion by 2022 with a CAGR of 3.4 %.
Pigment is a compound which provides color to the other substance. Feed Pigments provide aid to improve the commercial value of meat derivatives by improving the color, Form, and palatability of the feed. It also acts as anti-oxidants to cure many diseases in animals and making them healthy.
Rising demand for meat, growing health consciousness among consumers to take healthy food, rising disposable incomes, and rising need for healthier livestock owing the growth of meat industry are some of the factors driving the market. However, factors like high expense of synthetic pigments and scarcity of natural pigments are restraining the growth of the market.
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Feed Pigment Market is segmented based on Type, Carotenoids Source and livestock. Based on Type, market is further segmented into Carotenoids, Curcumin, Caramel, Spirulina & Others. Based on Carotenoids Source, market is further segmented into Natural Feed Pigments, Synthetic Feed Pigments. Based on Livestock, market is further segmented into Swine, Ruminants, Poultry, Aquatic Animals & Others. Further based on Carotenoids, market is further segmented into Beta-Carotene, Canthaxanthin, Lutein, Astaxanthin, Lycopene, Zeaxanthin, Other Carotenoids. Carotenoids dominated the market in 2015 owing to its widespread usage.
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Geographically, market is segmented into Asia-Pacific, Europe, North America, Latin America and Middle East and Africa. Europe accounted for largest share globally owing to the increased awareness about benefits of feed pigments. Asia-Pacific is expected to be the fastest growing market owing to the factors like large population, growing health consciousness among people and rising disposable incomes.
Major players listed in the report 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.
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