Feed Pigments Market – Overview
The need to improve the quality of livestock and poultry significantly depends on the quality of the fees given, and this is dependent on additives in the feed such as pigments which enhance the palatability of feeds. Market reports associated with the agriculture industry have been made available by Market Research Future who publishes reports on other sectors that have been presently published along with a report on this industry.
The market is anticipated to grow at an exceptional CAGR in the forecast period. Increasing global population has created a huge demand for an animal source of food. Thus, the feed requirements have increased rapidly thus growing the market opportunities for feed pigments substantially in the upcoming forecast period.
The segmentation of the feed pigments industry is carried out on the basis of type, source, and livestock. The segmentation on the basis of type comprises of spirulina, curcumin, carotenoids, and others. The carotenoids segment is expected to control the market followed by the spirulina segment. On the basis of source, the market is segmented for feed pigments consists of synthetic feed pigments and natural feed pigments. The natural feed pigments are likely to witness substantial growth over the forecast period. The livestock segment of the feed pigments industry consists of ruminants, poultry, swine, and others. The poultry segment is leading the market due to augmented consumption of poultry and meat products globally.
Detailed Regional Analysis
The regional analysis of the food pigments market is segmented into Europe, Asia Pacific, North America, and the rest of the world (RoW). The Asia Pacific region is controlling the feed pigments market trailed by the North American region. In the Asia Pacific region, China is the main supplier of poultry products, which, in turn, lifts the market growth in this region. Additionally, growing consumption of meat and poultry products coupled with the rapidly growing population in emerging countries of the Asia Pacific region is boosting the growth of the feed pigments type industry. Additionally, the intensifying demand for poultry products in nations like Canada, the U.S., and Mexico in the North American region is likely to enhance the feed pigments market in the forecast period.
The enhancement in the products and services is the chief factor escalating the market's productivity and controlling the trends that are acquiring distinction in the market. The growth patterns are modified in tandem with the customer preferences to achieve maximum growth, and in the long run, profitability. Besides, the introduction of new products and services will add additional impetus to the market progress. The crucial success factors and players’ predilections are consistently growing by the strategies being used by market contenders. The gaps in the market are filled due to the execution of rising supply chain strategies. The expansion of the market is based on the drivers that are drastically altering the market background. The circumstances for growth plans have stimulated the market for potential new entrants.
The noteworthy contenders profiled in the feed pigments market globally Royal DSM N.V. (The Netherlands), Novus International, Inc. (U.S.), BASF SE (Germany), Nutrex NV (Belgium), Behn Meyer Group (Singapore), Kemin Industries Inc. (U.S.), Kalsec Inc. (U.S.) and Synthite Industries Ltd (India).
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Feed Pigments Market – Overview