Market Trends of Asia-Pacific Feed Pigments Industry
This section covers the major market trends shaping the APAC Feed Pigments Market according to our research experts:
Increasing Meat Consumption
The population has been growing rapidly in the Asia Pacific region, with China and India being the densely populated countries. With this increasing population, food production demands are also increasing. Moreover, the rising awareness regarding the healthy benefits of consuming protein sources is creating demand for meat consumption in the region. According to the Food and Agricultural Organization, the meat consumption in the Asia Pacific region has increased from 137.5 million tons in 2014 to 143.68 million tons in 2018. Pork meat and Poultry meat are mostly consumed in the Asia Pacific, contributing 46% and 32% of the total meat consumption respectively. This increasing demand for meat consumption, in turn, is driving the Feed pigment market as it improves the color of the products obtained from animals including eggs, milk, and meat.
Increasing Poultry and Aquaculture Production in China
China is the largest Feed pigment market in the Asia Pacific region followed by India and Japan owing to rising healthcare awareness among consumers, disposable incomes, poultry & aquaculture growth, and increasing meat consumption. Feed pigments are mostly used in poultry and aquaculture to enhance the color of meat, increase palatability, and improves animal performance. China, showing the rising trend in poultry production to 51.7 million tons in 2018 and also China, having a target of increasing aquaculture production by 15.4 million metric tons by 2025, provides new growth opportunities and helps in enhancing the feed pigment market size.
