Carotenoid Feed Additives Market

Market Overview

The Global Carotenoid Feed Additives Market Size will significantly grow at a CAGR of approximately 4.4% by forecast period.

Carotenoids are 40-carbon isoprenoid molecules that produce the red, yellow, and orange pigmentation found in nature. Various plants, microalgae, bacteria, and fungi are natural sources of carotenoids. Carotenoids are considered safer and healthier than some synthetic pigments. These compounds are classified into two main groups: pure hydrocarbon carotenes (α- and β-carotenes, lycopene) and oxygenated derivatives of xanthophylls (lutein, zeaxanthin, astaxanthin, fucoxanthin, cryptoxanthin, etc.).

Due to the potential health benefits of caretonoids, it is one of the key ingredients in feed additives available worldwide. The beta-carotene is the most significant source of vitamin A, supplements of it has improved the reproductive efficiency of dairy heifers and nursing cows. Also the immune system activation and oxidative damage are prevented by beta- carotene. These potential benefits have increased the adoption of caretonoid feed market. Due to its all natural ingredients caretonoid feeds have become a preference for livestock over the synthetic pigments.

Market Dynamics

Market Drivers

• Growth of Livestock Production

The demand for livestock’s has been increased exponentially around the globe. The health benefits of protein for humans has been associated with the rising consumption of meat, eggs. Also the agriculture challenges in some countries forced farmers towards the livestock industry. The demand for healthy livestock has pushed caretonoids feed market to greater extent in terms of growth. With the caretonoids feed the efficiency of livestocks has been increased in terms of production, muscle mass, protein content, egg yolks, meat color among the livestock.

• Increase in Exports of Seafood

The global demand for fisheries has been increased due to the benefits of it for health. Asia is the major exporter of fisheries to the globe accounting half of the total exports. The rising demand has proved to be a booster for the sector as it is strengthening the growth in terms of export, also the revenue has been contributing for the growth of sector. The exports has been helping Asian countries in becoming a key player of the market.

Market Restraints

• High Price of Caretonoid Extraction and Its Availability

The caretonoids are extracted from many natural sources including plant leaves, tree bark, seeds. The cost of caretonoid extraction has been rising due to the strict regulations on the wastewater treatment and waste biomaterials in order to conserve environment. These factors requires more investments to fulfill the extraction norms. The caretonoids has been used in animal feeds as well as in beauty products, fortified food. Therefore the competition between industries to get the raw caretonoids for product manufacturing results in uncertain price of the products affecting the growth of the market. This competition for raw material might affect the supply of caretonoids for feed additives resulting in potential loss of the market.

Market Opportunities

• Increased demand for Livestock

The global demand for livestock has been an indicator of the space available for the sector to progress. The livestock is a pillar of global food system. According to the FAO, livestock contributes 40% of the global value of agricultural output and supports the livelihoods and food and nutrition security of almost 1.3 billion people. The rising awareness on protein importance in food has triggered the production of livestock. In the last 50 years the meat production of the world has grown by three times. This is due to the rising disposable income among people and easy availability of quality produce. The livestock market can eradicate the growth issues in people, childrens due to its healthy content of protein.

Market Scope

Segmental Analysis

Segment By Type

• Beta-Carotene

This is a type of carotenoid that is commonly used as a feed additive in animal nutrition. It is found in a variety of fruits and vegetables, including carrots, sweet potatoes, and pumpkins. Beta-carotene is an important source of vitamin A, which is essential for the growth and development of animals.

• Lycopene

Lycopene is a type of carotenoid that is found in tomatoes, watermelon, and other red-colored fruits and vegetables. It is known for its antioxidant properties and is often used as a feed additive to improve the health and immunity of animals.

• Lutein

Lutein is a type of carotenoid that is found in green leafy vegetables such as spinach and kale. It is known for its anti-inflammatory properties and is often used as a feed additive to improve the eye health and vision of animals.

• Astaxanthin

Astaxanthin is a type of carotenoid that is found in certain types of seafood, such as salmon and shrimp. It is known for its antioxidant and anti-inflammatory properties and is often used as a feed additive to improve the overall health and performance of animals.

• Others

Other types of carotenoids that are used as feed additives include zeaxanthin, canthaxanthin, and capsanthin. These carotenoids are found in a variety of fruits and vegetables and are known for their health benefits.

Segment By Application

• Online Sales

Online portals related to agriculture sells caretonoid feeds through their portal, the feeds are available with wide range of products.

• Others

Local agriculture shops, stores supplies caretonoid feed additives to farmers, these stores offers products recommended for livestock. The major revenue of caretonoid feed market comes from this sales channel.

Regional Analysis

The Global Carotenoid Feed Additives Market is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Europe

The Europe is the largest market for caretonoids feed additives. The Europe holds major share in the market due to its developed economy. Germany holds major share of caretonoid feed market due to its benefits of health and reproduction. The growing agriculture has also paved the way as agriculture and livestock are interdependent fields. The demand for dietary supplements and high protein food is driving the market.  Europe is likely to continue the trend in the use of caretonoids feed market.

Asia Pacific

Asia Pacific region is the second largest market for caretonoid feed additives. The preference of farmers to caretonoids feed over the the antibiotics, government initiatives to project caretonoids feed is driving the market in this region. The growing agriculture market in the region requires more livestock, for livestock health caretonoids feeds are being used widely. The region is expected to continue driving the revenue in the caretonoids feed market as the farming sector is growing rapidly in India, Vietnam and Indonesia. The new technologies adoption in the agriculture sector across Asia Pacific has also been a key driver of growth.

North America

North America is third largest region for caretonoids feed additives. The egg industry is driving the revenue of caretonoids feed market as the health benefits of eggs motivating its consumption. The meat consumption has been growing in the region as it is a source of protein, also the growing agriculture culture requires the livestock. These reasons are playing a key role in boosting the sector growth.

Middle East and Africa

Middle East and Africa region is growing in caretonoids feed additives market moderately. The region has less consumption of eggs, meat compared to other regions. The instability in the region is also affecting the market. The awareness about caretonoids feed additives is necessary, as it will drive the market further.

Key Players

1. BASF SE
2. Kemin Industries
3. DSM Animal Nutrition
4. Thoroughbred Remedies Manufacturing (TRM)
5. VievePharm Animal Nutrition B.V.
6. Synthite Industries Ltd
7. Allied Biotech Corporation
8. EW Nutrition
9. Avivagen