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North America Feed Carotenoid Market By Type (Lutein, Canthaxanthin, Astaxanthin, Beta-Carotene, Lycopene, Zeaxanthin, And Others), By Animal Type (Poultry, Aquaculture, Swine, Ruminant, And Others), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecast (2022 to 2027)

Published: January, 2022
ID: 1302
Pages: 133

North America Feed Carotenoid Market Size (2022 - 2027):

The North America Feed Carotenoid Market was worth $0.75 billion in 2021 and is estimated to be growing at a CAGR of 3.68%, to reach $0.92 billion by 2026. Carotenoids have high nourishing properties which help avert deadly diseases such as cancer, diabetes, and tumor.

Along with this, carotenoids comprise a coloration pigment named carotene which is accountable for imparting red, yellow, and orange color in plants and animals thus intensifying the need and utilization of carotenoids especially for meat products. The coloration of animal products plays a major role in determining their commercial worth. Hence, carotenoids are considered a major business opportunity, with several multinational players already entering into the production of different types of carotenoids which can be used in several applications.  

Market Drivers:

The growth of the North America Feed Carotenoid market is majorly driven by factors such as growing consumer preference for naturally healthy products, easy availability, and the commercial scope of carotenoids in feeds and supplements. The antioxidative feature and discovery of new health benefits of carotenoids make it medically more viable giving a boost to the demand for carotenoids in medical sectors as well. However, factors such as an inadequate number of suppliers in the market, high expenses incurred during extraction, and mounting costs of raw materials are preventing the growth of the market in this region.

NORTH AMERICA FEED CAROTENOID MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

221 – 2026

Base Year

2020

Forecast Period

2021- 2026

CAGR

3.68%

Segments Covered

By Type, By Animal Type 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • USA
  • Canada

Market Leaders Profiled

BASF SE, Chr. Hansen A/S, FMC Corporation, Kemin Industries Inc., Royal DSM N.V., and Behn Meyer Group.

Market Segmentation:

North America Feed Carotenoid Market – By Type:

  • Lutein

  • Canthaxanthin
  • Astaxanthin
  • Beta-Carotene
  • Lycopene
  • Zeaxanthin
  • others

Among these, Astaxanthin leads the Feed Carotenoid market, followed by beta-carotene and lutein. Astaxanthin is utilized on a large scale due to its functional characteristics, easy obtainability, and usage in almost all industrial areas. However, the beta-carotene segment is estimated to be the fastest-growing market during the forecast period, owing to its high efficacy and medicinal properties.

North America Feed Carotenoid Market – By Animal Type:

  • Poultry
  • Aquaculture
  • Swine
  • Ruminant
  • others

Under this segment, Poultry leads the market accounting for more than 45% of the market share. However, Aquaculture is projected to be the fastest-growing segment with a CAGR of 6.8%.

Geographical Analysis:

The North America market has been geographically segmented into

  • USA
  • Canada

North America is one of the major markets for Feed Carotenoids, accounting for around 27% of the entire market. The market in this region is projected to grow substantially due to growth in the Aquaculture and feed industry.

Key Players:

Partnerships and arrangements with raw material suppliers and traders to guarantee uninterrupted supply at discounted costs is the most adopted plan by the players in the market. Expansion of the company and putting up new plants to boost production capability is another tactic adopted by the key players. The major companies dominating the Feed Carotenoid market in this region are BASF SE, Chr. Hansen A/S, FMC Corporation, Kemin Industries Inc., Royal DSM N.V., and Behn Meyer Group.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods   

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                              

                2.2 Research Phases                      

                                2.2.1 Secondary Research            

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling     

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                      

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 New Developments                

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                      

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market               

5. Market Segmentation                                              

                5.1 By Type                        

                                5.1.1 Lutein       

                                5.1.2 Canthaxanthin      

                                5.1.3 Astaxanthin            

                                5.1.4 Beta-Carotene      

                                5.1.5 Lycopene

                                5.1.6 Zeaxanthin             

                                5.1.7 Others      

                5.2 By Animal Type                         

                                5.2.1 Poultry     

                                5.2.2 Aquaculture           

                                5.2.3 Swine        

                                5.2.4 Ruminant

                                5.2.5 Others      

6. Geographical Analysis                                              

                6.1 Introduction                              

                6.2 United States                            

                6.3 Canada                         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental      

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

          7.2.4 Threat of Substitute Products and Services

   7.2.5 Competitive Rivalry within the Industry      

8. Market Leaders' Analysis                                        

                8.1 BASF SE                        

                                8.1.1 Overview

                                8.1.2 Product Analysis   

 8.1.3 Strategic Evaluation and Operations            

                                8.1.4 Financial analysis  

                                8.1.5 Legal issues            

                                8.1.6 Recent Developments       

                                8.1.7 SWOT analysis       

                                8.1.8 Analyst View          

                8.2 Chr. Hansen A/S                       

                8.3 FMC Corporation                     

                8.4 Kemin Industries Inc.                              

                8.5 Royal DSM N.V.                        

                8.6 Behn Meyer Group                 

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                        

                9.3 Agreements, collaborations and Joint Ventures 

                9.4 New Product Launches                          

10. Expert Opinions                                        

                10.1 Market Outlook                     

                10.2 Investment Opportunities                 

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  1. North America Feed Carotenoid Market By Region, From 2022 - 2027 (USD Billion)
  2. North America Feed Carotenoid Market By Type, From 2022 - 2027 (USD Billion)
  3. North America Lutein Market By Region, From 2022 - 2027 (USD Billion)
  4. North America Canthaxanthin Market By Region, From 2022 - 2027 (USD Billion)
  5. North America Astaxanthin Market By Region, From 2022 - 2027 (USD Billion)
  6. North America Beta-Carotene Market By Region, From 2022 - 2027 (USD Billion)
  7. North America Lycopene Market By Region, From 2022 - 2027 (USD Billion)
  8. North America Zeaxanthin Market By Region, From 2022 - 2027 (USD Billion)
  9. North America Other types Market By Region, From 2022 - 2027 (USD Billion)
  10. North America Feed Carotenoid Market By Animal Type , From 2022 - 2027 (USD Billion)
  11. North America Poultry Market By Region, From 2022 - 2027 (USD Billion)
  12. North America Aquaculture Market By Region, From 2022 - 2027 (USD Billion)
  13. North America Swine Market By Region, From 2022 - 2027 (USD Billion)
  14. North America Ruminant Market By Region, From 2022 - 2027 (USD Billion)
  15. North America Other animals Market By Region, From 2022 - 2027 (USD Billion)
  16. United States Feed Carotenoid Market By Type, From 2022 - 2027 (USD Billion)
  17. United States Feed Carotenoid Market By Animal Type , From 2022 - 2027 (USD Billion)
  18. Canada Feed Carotenoid Market By Type, From 2022 - 2027 (USD Billion)
  19. Canada Feed Carotenoid Market By Animal Type , From 2022 - 2027 (USD Billion)

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