USD 1.8 billion
Feed Carotenoids Market Size, Share, Growth Analysis, By Type(Beta-Carotene, Lycopene, Lutein, Astaxanthin), By Application(Ruminant, Poultry, Swine, Aquaculture), By Region - Industry Forecast 2024-2031
Report ID:
SQMG15E2041 |
Region:
Global |
Published Date: July, 2001
Pages:
165
|Tables:
68
|Figures:
75
Feed Carotenoids Market Insights
Feed Carotenoids Market size was valued at USD 1.8 billion in 2019 and is poised to grow from USD 1.87 billion in 2023 to USD 2.64 billion by 2031, growing at a CAGR of 3.9% in the forecast period (2024-2031).
Carotenoids in animal feed are responsible for the pigmentation of animal skin and are therefore crucial to animal health. Since animals cannot produce carotenoids on their own, they must get all of the carotenoids they require from the food they eat. One of the main factors propelling the development of the feed carotenoids market is the rising demand for high-quality food products around the world. Increases in both the availability of feed supplements and consumer knowledge about the benefits of using natural carotenoids as food colorants are driving the market forward. The market is also influenced by the advent of cutting-edge carotenoid extraction methods and the urgent need to curb animal disease outbreaks.
US Feed Carotenoids Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Beta-carotene
Fastest Growth
Beta-carotene
Growth Rate
3.9% CAGR
Global Feed Carotenoids Market ($ Bn)
Country Share for Asia Pacifc Region (%)
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Feed Carotenoids Market Segmental Analysis
The Global Feed Carotenoids Market is segmented based on type, application, and region. Based on type, the Feed Carotenoids Market is segmented into beta-carotene, lycopene, lutein, astaxanthin, canthaxanthin, and other types. Based on application, the Feed Carotenoids Market is segmented into ruminant, poultry, swine, aquaculture, and other application types. Based on region, the global Feed Carotenoids market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Carotenoids Market Analysis by Type
The global feed carotenoids market is divided into Beta-carotene, lycopene, lutein,Astaxanthin,Canthaxanthin and others by type. In 2021, the Beta-carotene segment accounted for more than 24% of the global feed carotenoid market followed by the Astaxanthin segment for the same period. As beta-carotene is the most important source of vitamin A and also has increased the reproductive performance of both dairy heifers and lactating cows with its supplementation. Beta-carotene protects against oxidative damage and immune system stimulation. These are some of the major factors for the increasing demand for beta-carotene in the feed additive industry and will propel the feed carotenoids market during the analysis period.
Feed Carotenoids Market Analysis by Application
In 2021, the aquaculture segment dominated the global feed carotenoids market and is expected to dominate the same during the analysis period. Carotenoids' wide range of biological functions has led to their widespread incorporation into fish food used in aquaculture. Salmon, trout, red porgy, and shellfish feed, including shrimp and lobster, all heavily utilize carotenoid supplementation. In the larval stage of aquaculture species, carotenoids are crucial, and fish larvae have a far higher survival rate when fed on live feeds containing carotenoids. It is expected that more than 20% of global fish and other aquaculture consumption would come from cultured aquaculture as opposed to wild capture which will propel the market growth during the analysis period.
Global Feed Carotenoids Market By Type
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Feed Carotenoids Market Regional Insights
As the largest market for aquaculture in the world, Asia-Pacific is the biggest consumer of carotenoids as feed additives. China is the biggest player in this market. Vietnam, Indonesia, and India are the main markets that are expected to grow a lot in the future. This is because they are using more scientific ways to farm and more people are eating fish and other livestock products. The desire to boost exports in Asian countries is also driving up the demand for feed, which is helping the carotenoids market grow. Indonesia's government plans to have aquaculture farms in dozens of villages by the end of 2022. This will help Indonesia export more aquaculture products. All these developments will help the Asia Pacific region to dominate the global feed carotenoids market during the analysis period.
Global Feed Carotenoids Market By Region
- Largest
- Fastest
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Feed Carotenoids Market Dynamics
Feed Carotenoids Market Driver
Rising demand for high-quality food products around the world is driving the feed carotenoid market demand.
- One of the main factors propelling the development of the feed carotenoids market is the rising demand for high-quality food products around the world. Increases in both the availability of feed supplements and consumer knowledge about the benefits of using natural carotenoids as food colorants are driving the market forward. The market is also influenced by the advancement of cutting-edge carotenoid extraction methods and the urgent need to reduce animal disease outbreaks. The feed carotenoids market is boosted by rising demand for animal-based products and a more health-conscious consumer base.
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Increased meat and seafood consumption which lead to the changes in dietary preferences of the individual is another major factor driving the market. The intake of animal protein has increased on a significant level leading to the public awareness regarding the value of protein in the diet.
Feed Carotenoids Market Restraint
High production costs and regulatory norms are expected to restrain market growth.
- It is anticipated that the market will be hampered by both high production costs and regulatory norms. It is expected that the feed carotenoids market would face challenges in the form of dangers connected with excessive dosages of carotenoids as well as difficulties in meeting the necessary quality requirements. These reasons might slow down the feed carotenoids market growth during the analysis period.
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Feed Carotenoids Market Competitive Landscape
The feed carotenoids market is relatively fragmented, with a high level of competition. Few large players, like BASF SE, VievePharm Animal Nutrition BV, and Avivagen, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Feed Carotenoids Market Top Player’s Company Profiles
- Algatechnologies Ltd.
- Archer Daniels Midland Company
- BASF SE
- Behn Meyer Group
- BioExtract
- Carotech Berhad
- Chr. Hansen Holding A/S
- DDW The Colour House
- Divi's Laboratories Ltd.
- DSM Nutritional Products AG
- Guangzhou Leader Bio-Technology Co. Ltd.
- Kemin Industries Inc.
- Lycored Corp.
- Novus International Inc.
- Nutrex NV
- Phytone Limited
- Piveg Inc.
- Sensient Technologies Corporation
- Vitae Naturals
- Zhejiang NHU Company Ltd.
Feed Carotenoids Market Recent Developments
- In July 2022, Impextraco announced the expansion of its Mexico office. After this, it has now twice as much space in Mexico for offices and product storage as there was before. The new storage space opens up more business opportunities and helps the Impextraco brand become known in the country.
- In May 2022, Innovad Group announced that it has bought Scentarom through its Innotek holding, a company that makes and develops feed flavors and scents. The purchase is part of Innovad's ambitious plan to grow in the area of green and sustainable solutions.
- In September 2022, EW Nutrition launched a new way to help chickens keep their guts healthy. Pretect D is a special mix of Phyto molecules that help keep birds healthy and farm profits high. Trials show that Pretect D can help even when problems are caused by Eimeria. This makes it a good addition to programs that focus on gut health.
Feed Carotenoids Key Market Trends
- In recent years, carotenoids derived from algae have acquired commercial recognition on the global market for food and cosmeceutical uses; this is because algae are a rich source of a wide variety of bioactive compounds. However, algae-based carotenoids aren't yet competitively priced compared to man-made alternatives. But with passing time and increasing investment and innovation into the industry this will propel the feed carotenoids market during the analysis period.
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The trending increased usage of carotenoids in aquaculture has fuelled the market on larger extent.Carotenoids are essential at the larval stage of aquaculture species, and fish larvae dramatically increase their survival rate when reared on live feeds containing carotenoids. The growth in global aquaculture production has led to the increased demand for feed, thereby promoting the growth of the carotenoids market.
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Increasing health consciousness and rising geriatric population across the globe, there is a shift in the consumer preferences toward preventive healthcare products that can act as antioxidants and protect the body from chronic diseases, cellular damage and detrimental effects of aging. The increasing prevalence of cancer and other age-related ophthalmic disorders is one of the key trend driving the market.
Feed Carotenoids Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the aquaculture segment dominated the global feed carotenoids market in 2021 and is expected to dominate the same during the analysis period. It is expected that more than 20% of global fish consumption would come from cultured aquaculture as opposed to wild capture which will propel the market growth. China is the biggest player in this market. Vietnam, Indonesia, and India are the main markets that are expected to grow a lot in the future. Regional Insights the Asia Pacific region is expected to dominate the global feed carotenoids market during the analysis period. increasing demand for animal-based products and a more health-conscious consumer base are driving the market forward.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 1.8 billion |
| Market size value in 2031 | USD 2.64 billion |
| Growth Rate | 3.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Feed Carotenoids Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Feed Carotenoids Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Feed Carotenoids Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Feed Carotenoids Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Feed Carotenoids Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Feed Carotenoids Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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