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COVID-19 Impact On Feed Pigments Market Trends, Demand, Regional Analysis, Competition Forecast To 2023

Market Overview

Feed pigments are either naturally derived or synthetic substances used to enhance the shade of the animal skin which is an important marketing factor. The feed pigments help in stimulation and secretion of digestive enzymes, which, in turn, stimulate the immune response in the livestock. Additionally, feed pigments market is observing an exponential growth based on its increasing usage in the feed industry. The major types of feed pigments available in the market include carotenoids, curcumin, spirulina, and others.

The Global Feed Pigments Market Trends is growing due to increasing meat consumption. With the growing consumer awareness and their increasing interest in healthy lifestyle, the demand for feed pigments has increased recently. In addition to the changing lifestyle, the rise in the meat consumption, quality feed, industrialization of livestock, and the prevention of diseases in livestock are expected to drive the feed pigments market.

Downstream analysis

Feed pigments market is segmented based on type, which includes carotenoids, curcumin, spirulina, and others. Among them, the carotenoids segment is anticipated to dominate the market followed by the spirulina segment. Moreover, the curcumin segment is witnessed to have a substantial growth over the forecast period.

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Based on source, the feed pigments market is segmented into natural feed pigments and synthetic feed pigments. The natural feed pigments are projected to have a potential growth over the forecast period.

Based on the livestock, the feed pigments market is segmented into poultry, ruminants, swine, and others. Among all, the poultry segment is dominating the market based on the increased consumption of poultry and meat products globally. However, the ruminants segment is witnessed to gain a moderate growth over the estimated period.

Competitive analysis

The major players in the feed pigments market

  • BASF SE (Germany)
  • Royal DSM N.V. (The Netherlands)
  • Novus International, Inc. (U.S.)
  • Nutrex NV (Belgium)
  • Kemin Industries Inc. (U.S.)
  • Behn Meyer Group (Singapore)
  • Synthite Industries Ltd (India)
  • Kalsec Inc. (U.S.)

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Regional Analysis

The global feed pigments market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the feed pigments market followed by North America owing to rising population followed by increasing consumption of poultry and meat products in developing regions. Moreover, China is the major exporter of poultry and meat, which, in turn, drives the market of feed pigments in the Asia Pacific region.

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