Global Feed Carotenoid Market is projected to grow at a significant CAGR from 2017 to 2025
Carotenoids are used in large scale for animal feed due to their high nutritive value and pigmentation present in them which enhances the appearance of the meat, meat products, and fish, among others along with their palatability. Carotenoids are also used in preventive healthcare and nutraceuticals. The growing sense of health consciousness and importance of quality of meat is also playing a huge role in the development of the global feed carotenoid market. Carotenoids have nutritious properties which help prevent cancer, diabetes, cataract, etc. They also contain a color pigment called carotene which imparts red, yellow and orange color in plants and animals. The coloration of animal products play an important role in deciding their commercial value. Thus, using carotenoids is profitable for suppliers and producers as well.
With the rise in demand for better quality of food products and appearance, the use of carotenoids is expected to hike. Based on type, the global feed carotenoid market is segmented into Lutein, Canthaxanthin, Astaxanthin, Beta-Carotene, Lycopene, Zeaxanthin and others. The beta-carotene segment is the fastest growing one due to its high effectiveness and medicinal properties. Astaxanthin accounted for the largest carotenoids market share, followed by beta-carotene and lutein. Astaxanthin is used on a large scale due to its functional qualities, easy availability, and application in almost all the industrial sectors.
The report is designed to provide a complete view on the global Feed Carotenoid market. The report has been categorised into qualitative and quantitative insights over the forecast period (2017-2025). The demand and supply matrix section falls under the qualitative information category wherein the market dynamics for Feed Carotenoid market has been studied considering a short term forecast of the factors/ variables which have an impact on Feed Carotenoid market. The market segments and their respective estimates & forecasts has been covered under the quantitative information category. Regional estimates and forecasts & trend analysis for each country and region is also available in the study. The report concludes by providing the competitive landscape of the major market participants which are profiled by analysing their organic & inorganic growth strategies, regional presence, and product portfolio among others.
Study Technique: Global Feed Carotenoid Market
The global Feed Carotenoid market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process. The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Feed Carotenoid market. The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers. Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing Feed Carotenoid, and customer analytics.
Global Feed Carotenoid Market Segmentation
Based on the animal type, the global feed carotenoid market is segmented into poultry, aquaculture, swine, ruminant and others. These carotenes improve the pigmentation and appearance of the specific meat to garner more commercial value for it; this is why more and more suppliers are looking into the feed carotenoids market. Based on source, the feed carotenoid market is segmented into natural and synthetic. Due to the increasing concerns of health and consumer preference for organic products, the natural carotenoids market is growing at a rapid rate. Adulteration, especially in synthetic carotenoids, and low cost competition from Asian countries are the restraining factors in the carotenoids market.
End-User Landscape (Consumer Profile): Feed Carotenoid Market
Companies such as Behn Meyer Group, BASF SE, Kemin Europa, Kalsec Inc., and Novus International, Inc., among others are investing extensively in the manufacturing and sale of Feed Carotenoid, which presents a huge opportunity to Feed Carotenoid suppliers. The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic, and inorganic growth strategies among others.
Behn Meyer Group, BASF SE, Kemin Europa, Kalsec Inc., Novus International, Inc., and Nutrex NV, among others account for the major share in Feed Carotenoid market. Companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. The other companies profiled in the report include: Synthite Industries Ltd, Royal DSM N.V., Koyo Mercantile Co., Ltd., and Chr Hansen A/S.
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