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Feed Pigments Market Size, Regional Outlook, Application Development Potential, Price Trends, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI2588

Feed Pigments Market size is slated to grow manifold over 2021-2027 with a growing preference for healthier livestock. The flourishing growth of the meat industry has further propelled the demand for feed pigments that can boost palatability.

Feed pigments are feed additives that have a pivotal role in boosting the characteristics of the feed. They are used in feed products to give a distinct color and strengthen reproduction and immune systems. These pigments are also used to improve the nutritive value and appearance of animal feed. Soaring demand for quality meat products and animal protein will act as a major growth enabler driving the industry growth. According to the FAO, global total meat production was projected to reach 337.2 million tons in 2020, underpinned by poultry and ovine meat outputs.

Based on type, the feed pigments market value from the carotenoids segment will expand at a healthy growth rate through 2027. Carotenoids such as lutein, beta-carotene, astaxanthin and lycopene are sought in animal feed, human food, pharmaceuticals, dietary supplements and cosmetics. Increased usage in human antioxidants, animal feed ingredients and coloring salmon, shrimps and trout will propel the demand outlook for carotenoid. Feedstuff formulators will continue to invest in carotenoids to meet consumer demands of aquaculture products.

With respect to livestock, the poultry segment will gain significant volume and revenue growth during the forecast period 2021-2027. World poultry meat production clocked 133.3 million tons in 2020, attributed to a shorter production cycle and affordability. The burgeoning commercialization of eggs has prompted pigment formulators to expand the penetration of both synthetic and natural source carotenoids. Robust demand for long shelf life, stability and high homogeneity while maintaining egg yolk and broiler skin coloring efficacy will further stimulate the industry growth.

The industry share from the ruminants will grow at a considerable CAGR over 2021-2027. Feeding ruminants with nutritious feed has gained impetus following the surge in ruminant breeding. Increasing milk production has further solidified the position of feed pigments, including carotenoids. The FAO predicted global milk production to reach around 906 million tons in 2020, fueled by a bullish outlook in APAC, followed by Europe and the Americas. Enhanced palatability of feed and rising meat consumption will also contribute to the economic expansion of feed pigments.

In terms of region, the Asia Pacific feed pigments market share will exhibit high gains. Bullish meat production and soaring consumption of milk in Australia, China, India and New Zealand will bode well for the industry outlook. For instance, bovine meat production in China grew by nearly 1% in 2020 owing to the relaxation of some environmental regulations and healthy profit margins. Besides, milk output in India accounted for 195 million tons in 2020, fueled by the rising adoption of dairy cattle and enhanced feed availability. Industry participants are also bullish about the usage of feed additives that will hold massive potential in the coming years.

The competitiveness of the global feed pigment market suggests the industry is moderately fragmented with players such as Royal DSM, BASF, D.D. Williamson & Co., Kemin Industries, Guangzhou Leader Biotechnology and Novus International, among others. These companies are likely to focus on divestment, investment, mergers & acquisitions, product launches, R&D, and innovation. To illustrate, EW Nutrition acquired the feed quality and pigment business portfolio from Novus International in February 2021. The acquisition indicates the former will own a production facility in Constanti, Spain.

COVID-19 outbreak impact analysis on feed pigments market outlook

The pandemic hampered meat production and consumption patterns in 2020, leading to modest demand growth in the global feed pigments industry forecast. The outbreak played a pivotal role in the labor-intensive meat processing industry in developing countries, especially the Asia Pacific.

The outbreak also affected the consumption pattern, especially the demand for high-value meat cuts consumed in restaurants. Steep fall in demand from the food service industry could dent the industry outlook. However, feed pigments for ruminants gained an uptick with soaring consumption of milk globally. For instance, annual dairy imports in Saudi Arabia surged by 13.5% in 2020, while Brazil imported more milk products.

Despite COVID-19 market disruptions, demand for carotenoid feed pigments is expected to rise with gradual growth in meat consumption and milk production.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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