Market Trends of North America Feed Pigments Industry
This section covers the major market trends shaping the North America Feed Pigments Market according to our research experts:
Rising Demand for Animal Sourced Proteins
Increasing demand for high animal protein food has created a need for enhancing the production of meat in North America. According to the Organisation for economic cooperation and development (OECD), Consumption of beef meat in the United States is raised to 12,566 tonnes in 2019 from 12.179 tonnes in 2018. In the United States, the per capita consumption of pork meat, beef meat, and poultry meat accounted for 23.3 kilograms, 26.7 kilograms, and 50.1 kilograms respectively in the year 2019. Also, the poultry meat is the highest consumed in Canada that amounted to 33.9 kilograms followed by beef and veal with the per capita consumption of 17.6 kilograms in the same year. As per ITC Trade Map, Canada is the largest importer of poultry in the region with USD 61,770 thousand, and the United States is the largest importer of Swine with USD 313,744 thousand in 2019. The increasing demand for meat has further boosted the demand for feed pigments in the region.
United States Dominates Market
The United States is the largest producer of animal feed in the region owing to the growing trend of mass production of livestock. According to FAO, in 2016 cattle and buffaloes population was 91.8 million that has increased to 94.2 million and the poultry bird population increased from 2225.07 million to 2225.50 million during the same period. The rise in the animal population in the country has resulted in an increase in the production of animal feed for different species. According to the Alltech, the feed production in the country was 214 million metric tons of which poultry feed production was the highest amounting to 62.6 million metric tons, followed by beef and pig feed that accounted for 61.09 million metric tons and 44.86 million metric tons respectively in the year 2019. The feed pigments are given along with the other feed additives to the animals to improve the color of the meat and egg. Some of the factors like consumers' preferences towards the color of the meat along with the quality, which is the prime factor considered while purchasing meat will enhance the feed pigments market.
