Market Research Report
Europe Feed Pigments market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Europe Feed Pigments market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 80 Pages
Delivery time: 2-3 business days
The Europe Feed Pigments market is estimated to register a CAGR of 3.8% during the forecast period (2020-2025). Feed pigments are substances that are either of natural origin or synthesized industrially. Feed pigments are gaining importance due to various benefits they offer to the growth of an animal in several stages of its life cycle, apart from the traditional pigmentation it imparts. They have also been linked to oxidation-preventing mechanisms and enhance the immune system. Feed pigments are mainly used to improve the color of the products including egg, meat, and milk. The growing demand for animal protein and quality meat products are the major drivers of feed pigment markets.
Feed pigments in livestock are used to improve the color of the products obtained from the animals including eggs, milk, and meat. Increasing meat consumption in Europe is the major driving factor for the feed pigments market. According to the European Commission's EU Agricultural Outlook of 2018, per capita, meat consumption has increased from 68.4 kg in 2017 to 69.3 kg in 2018. Poultry meat is one of the most consumed by humans, followed by pork and beef. Europe has a high percentage of people that consume meat as an essential part of their diet, rising disposable income and increased quality meat production is encouraging the market for standard meat and other animal products such as eggs. This is in turn driving the market for feed pigments in the region.
Carotenoids are the most extensively used pigments in the region. They are used in commercial egg production to add color and lutein to the egg yolk. The addition of lutein increases the nutritional value of the egg. Carotenoids are also used in aquaculture for making the fishes look more appealing to customers. For instance, research says the flesh of fresh trout and salmon should ideally have 7-8 mg/kg of Carotenoid but the value is only 2-4 mg/kg in fish fed without pigment additives. They are also efficient antioxidants and are a part of the antioxidant defense system in organisms, this makes the use of carotenoids more popular in the region. Thus, given these factors, the feed carotenoids market is likely to grow significantly during the forecast period.
The Europe feed pigment market is a significantly concentrated market with few major players including BASF SE, Novus International Inc., Kemin, Royal DSM N.V. The major strategies adopted by them are acquisitions, mergers, increasing the capacity of the plants and investing in R&D.