Asia-Pacific feed pigment market size is expected to reach USD 0.45 billion in 2024 and is anticipated to reach USD 0.53 billion by 2029, growing at a CAGR of 3.2% during the forecast period from 2024 to 2029.
The pigment is a compound that provides color to other substances. Feed Pigments provide aid to improve the commercial value of meat derivatives by improving the color, Form, and palatability of the feed. It also acts as anti-oxidants to cure many diseases in animals and making them healthy.
Rising demand for meat, growing health consciousness among consumers to take healthy food, rising disposable incomes, and rising need for healthier livestock owing the growth of meat industry are some of the factors driving the market. However, factors like high expense of synthetic pigments and scarcity of natural pigments are restraining the growth of the market.
Further based on Carotenoids, the market is further segmented into Beta-Carotene, Canthaxanthin, Lutein, Astaxanthin, Lycopene, Zeaxanthin, and Other Carotenoids. Carotenoids dominated the market in 2015 owing to its widespread usage.
Asia-Pacific is expected to be the fastest growing market owing to factors like large population, growing health consciousness among people, and rising disposable incomes.
Major players listed in the report are D.D. Williamson & Co., Inc., BASF SE, Kemin Industries, Inc., Novus International, Inc., Guangzhou Leader Bio-Technology Co., Ltd, Royal DSM N. V., Behn Meyer Group, Synthite Industries Ltd, Innovad AD NV/SA, and Vitafor NV.
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