Feed Carotenoids Market Size and Growth Rate:
“The Global Feed Carotenoids Market was valued at US$ 1,471.8 Mn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to increasing growth in compound & pelleted feed consumption”
Feed Carotenoids Market Growth Drivers and Restraints:
The global feed carotenoids market was valued at US$ 1,471.8 Mn in 2018 and growing at a CAGR of 4.2% over the forecast period owing to increasing consumption of meat, poultry and dairy products, rising concern regarding the outbreak of the animal diseases, developing domestic and international quick-service restaurants in emerging countries and mandate for quality meat products by customers are anticipated to create demand for the market. The rising demand for high-protein foods has positively inclined livestock production are the factors expected to drive the growth of the market. However, high prices of the raw materials and lack of awareness are expected to restrain the growth of the market.
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Poultry segment accounted for higher revenue share:
Based on type of animal, global feed carotenoids market is segmented into Swine, Poultry, Ovine, Bovine, Equine, Canine, and Aquaculture. Poultry segment accounted for the largest market share in 2018 and is expected to grow with highest CAGR over the forecast period owing to growing consumption of poultry products; it has become significant for meat producers to concentrate on the superiority of carotenoids nourished to poultry. These are the major factors anticipated to drive the growth of the market over the forecast years.
Asia Pacific and North America holds leading position in Global Feed Carotenoids Market
PBI’s global feed carotenoids market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, Asia Pacific and North America is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to increasing growth in aquaculture and feed industry. Increasing consumption of meat and rising adoption of scientific farming methods are expected to fuel the growth of the market over the forecast years. Astaxanthin and Canthaxanthin are widely used carotenoids accounting for around 75% of the market share.
Key Player Analysis of Feed Carotenoids Market:
Key player’s profiles in the report are FMC Corporation (U.S.), Royal DSM N.V. (The Netherlands), BASF SE (Germany), Cyanotech Corporation (U.S.), Kemin Industries, Inc. (U.S.), Chr. Hansen A/S (Denmark).
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