Market Size of Asia-Pacific Feed Pigments Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Feed Pigments Market Analysis
The Asia Pacific feed pigment market is projected to register a CAGR of 2.2% during the forecast period 2020-2025. Feed pigments are essential to feed additives that improve the commercial value of animal feed by imparting attractive color to products obtained from animals. Furthermore, they improve palatability and immunity, curing multiple livestock diseases. The key drivers for this market include increasing demand for meat production, rising disposable incomes, shifting inclination towards pellet feed consumption, and increasing consumer awareness regarding livestock health. The animal disease outbreaks such as African Swine fever virus, foot, mouth, and mad cow disease have stimulated awareness for healthy livestock among consumers. Thus, boosting the Feed pigments market in this region.
APAC Feed Pigments Industry Segmentation
Feed additives are used to enhance the color of meat and yolk of the egg. They are majorly used in poultry and aquaculture. The increasing demand for red meat, have led the meat processing industries to use pigments to enhance the color of the raw and processed meat. The Asia pacific animal feed Pigments market is segmented by Type (Carotenoids, Curcumin, Caramel, Spirulina, and others) by Animals (Ruminant, Poultry, Swine, Aquaculture, and Others) and by Geography (India, China, Japan, Australia, Thailand and Rest of Asia Pacific).
| Type | |
| Carotenoids | |
| Curcumin | |
| Caramel | |
| Spirulina | |
| Others |
| Animal Type | |
| Ruminant | |
| Poultry | |
| Swine | |
| Aquaculture | |
| Others |
| Geography | |
| China | |
| India | |
| Japan | |
| Australia | |
| Rest of Asia Pacific |
Asia-Pacific Feed Pigments Market Size Summary
The Asia-Pacific feed pigments market is experiencing steady growth, driven by the increasing demand for meat production and rising disposable incomes in the region. Feed pigments, as essential additives, enhance the commercial value of animal feed by improving the color, palatability, and immunity of livestock products. This demand is further fueled by a shift towards pellet feed consumption and heightened consumer awareness of livestock health, particularly in response to animal disease outbreaks. The rapid population growth in densely populated countries like China and India is escalating food production demands, with a notable increase in meat consumption, particularly pork and poultry, which in turn propels the feed pigment market.
China leads the Asia-Pacific feed pigment market, followed by India and Japan, due to factors such as increased healthcare awareness, disposable incomes, and growth in poultry and aquaculture sectors. The market is characterized by a few major players, including Novus International Ltd., BASF SE, Kemin Industries, Nutrex NV, and Synthite Industries Ltd., who are actively introducing new products to strengthen their market presence. Innovations like BASF's next-generation carotenoids and Lucatin NXT are examples of efforts to enhance product stability and efficacy, supporting the market's expansion.
Asia-Pacific Feed Pigments Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porters Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Carotenoids
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2.1.2 Curcumin
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2.1.3 Caramel
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2.1.4 Spirulina
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2.1.5 Others
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2.2 Animal Type
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2.2.1 Ruminant
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2.2.2 Poultry
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2.2.3 Swine
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2.2.4 Aquaculture
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2.2.5 Others
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 Australia
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2.3.5 Rest of Asia Pacific
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Asia-Pacific Feed Pigments Market Size FAQs
What is the current Asia-Pacific Feed Pigments Market size?
The Asia-Pacific Feed Pigments Market is projected to register a CAGR of 2.20% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Feed Pigments Market?
BASF SE, Kemin Industries, Novus International Ltd, Nutrex NV and Synthite Industries Ltd are the major companies operating in the Asia-Pacific Feed Pigments Market.
