New York, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Feed Pigment Global Market Report 2023" - https://www.reportlinker.com/p06479704/?utm_source=GNW
, Koel Colors Pvt. Ltd., Clariant AG, Kolortek Co. Ltd., and Sandream Impact LLC.
The global feed pigment market is expected to grow from $1.51 billion in 2022 to $1.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The feed pigment market is expected to reach $2.09 billion in 2027 at a CAGR of 6.6%.
The feed pigment market consists of sales of xanthophylls, anthocyanins, lycopene, citraxanthin, and capsanthin.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Feed pigments are natural or synthetic pigments that are added to animal feed to enhance the visual appeal of animal-derived products such as meat, eggs, and milk. It is used to enhance the appearance and nutritive value of animal feed.
North America was the largest region in the Feed Pigment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in feed pigment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of feed pigment products are carotenoids, curcumin, caramel, spirulina, and others.Carotenoids refer to lipid-soluble plant pigments that impart bright yellow, red, and orange colors in fruit, vegetables, fungi, and flowers.
These are either natural or synthetic, and are used to feed several livestock including swine, poultry, ruminants, aquatic animals, and others.
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.
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.
In February 2021, EW Nutrition, a Germany-based manufacturer of animal food products, acquired the feed quality and pigment business from Novus International Inc. for an undisclosed amount. With this acquisition, EW Nutrition focuses on expanding its product portfolio and geographical reach and also strengthening its global market position in the field of animal nutrition and health. Novus International Inc. is a US-based animal health and nutrition company that offers feed quality and pigments.
The countries covered in the feed pigment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The feed pigment market research report is one of a series of new reports that provides feed pigment market statistics, including feed pigment industry global market size, regional shares, competitors with a feed pigment market share, detailed feed pigment market segments, market trends and opportunities, and any further data you may need to thrive in the feed pigment industry. This feed pigment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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