Feed pigments are substances such as chlorophyll in plants or melanin in animals that helps produce color in plants or skin color in animals. Types of natural pigments include anthocyanins, flavonoids, betalains, tannins, quinones, and xanthones. Some of the pigments are in powdered form and can be soluble by using water or oil depending on the usage type.
On the basis of pigment type, the feed pigment market is segmented into curcumin, caramel, carotenoids, and spirulina. Among the pigment type carotenoids segment dominates growth of the global feed pigment market and is expected to continue its dominance over the forecast period.
On the basis of livestock type, the market is segmented into swine, cattle, poultry, aquatic animals and other animals (equines, sheep, and birds). Poultry segment is expected to register highest CAGR followed by swine segment. On the basis of source, the market is segmented into synthetic pigments and natural pigments
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be the highest share in terms of revenue over the forecast period, owing to increasing demand for pigment in food industry and development of innovative production techniques by manufacturers, especially in the US. The market in Europe accounted for highest share in the market, owing to growing health consciousness among individuals and increasing awareness about benefits of feed pigment. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to rising population, rising consumption of meat products, increasing individual concern over health, safety and rising demand for nutritive feeds in various countries in this region.
Key players operating in the global feed pigment market include BASF SE, D.D. Williamson & Co., Inc., Behn Meyer Group, Guangzhou Leader Bio-Technology Co., Ltd, Innovad, Kalsec Inc., Kemin Industries, Inc., Novus International, Inc., Nutrex NV, and PHW-Gruppe / LOHMANN & CO. AG.