Feed Carotenoids Market is Predicted to Surpass a Revenue of USD 2.75 Billion by Growing at a CAGR of 2.2% During 2022-2028; Increasing Need for Quality Animal Food to Elevate Market Growth – SkyQuest
SkyQuest has released a comprehensive report on the feed carotenoids market that provides a comprehensive overview of the market landscape. Utilizing cutting-edge analytical methods and methodology, this research provides a thorough industry overview. The report also includes a thorough assessment of the market, including a Competitive analysis, economic analysis, and technology evaluation.
Westford USA, Feb. 15, 2023 (GLOBE NEWSWIRE) — The Asia Pacific region to dominate the feed carotenoids market by gathering the highest market revenue during the forecast period. The growth of the market can be ascribed to urbanization growth, increased disposable income, and expanding demand for dietary supplements and foods high in protein. In addition, rather than using antibiotics, farmers are choosing carotenoids for their livestock animals Additionally, the market is expected to propel as a result of the main key companies’ increasing investments and the increasing consumption of animal meat in countries like China, Japan, and India.
According to recent research by SkyQuest, Chinese people devoured 45.2 kilos of meat per person on average in 2021, up from 44.5 kilograms the year before. In addition, China is by far the world’s greatest meat consumer, where residents consumed more than 10 million tons of beef and veal in addition to 53 million tons of pork in 2022.
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Pages – 165
Tables – 68
Figures – 68
Use of carotenoids as a nutrient in livestock feed to benefit bird and animal health and enhance product quality. The pigmentation of egg yolks, skin, legs, beaks, combs, feathers, and fat depends heavily on carotenoids. Birds’ egg yolks or light skin colors are a result of their carotenoid-deficient diets.
Prominent Players in Feed Carotenoids Market
- BASF SE (Germany)
- Thoroughbred Remedies Manufacturing (TRM) (Ireland)
- DSM Animal Nutrition (Netherlands)
- Kemin Industries (US)
- Synthite Industries Ltd (India)
- Nutrex NV (Belgium)
- VievePharm Animal Nutrition BV (Holland)
- Impextraco (Belgium)
- Allied Biotech Corporation (Taiwan)
- Vitafor (Belgium)
- EW Nutrition GmbH (Germany)
- Avivagen (Canada)
- Innovad Global (Belgium)
- Global Bio-Chem Technology Group Company Limited (China)
- ITOCHU CHEMICAL FRONTIER Corporation (China)
- Kyowa Hakko Bio Co. Ltd (Japan)
- Shijiazhuang Jirong Pharmaceutical Co. Ltd. (Chian)
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Beta-Carotene Segment to Garner Highest Market Share Owing to Its Distinctive Benefits
More than 24% of the growth revenue for the feed carotenoids market in the world in 2021 came from the beta-carotene category and is estimated to gain the highest market share during the forecast period. Since beta-carotene is the most significant source of vitamin A, supplementing with it has improved the reproductive efficiency of dairy heifers and nursing cows. Immune system activation and oxidative damage are both prevented by beta-carotene. These are some of the main drivers of the feed additive industry’s rising demand for beta-carotene, which will drive the feed carotenoids market over the analysis period.
Furthermore, the market in the Asia Pacific region is predicted to gain the highest market share during the forecast period. The growth of the market can be attributed to the increasing consumption of carotenoids as feed additives. Additionally, the key countries that are anticipated to experience rapid growth in the coming years are Vietnam, Indonesia, and India. This is due to the employment of more sophisticated farming techniques and an increase in the consumption of fish and other livestock products. The goal to increase exports in Asian nations is also boosting the demand for feed, which is accelerating the expansion of the feed carotenoids market in the region. SkyQuest found that by the end of 2022, the government of Indonesia intends to build aquaculture farms in numerous villages. As a result, Indonesia will be able to export more aquaculture products.
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Aquaculture Segment to Dominate the Feed Carotenoids Market Owing to Increasing Consumption of Sea Food
The aquaculture industry sector dominated the market for feed carotenoids globally in 2021, and it is anticipated that it will continue to do so during the forecast timeline. Due to their numerous biological benefits, carotenoids are frequently included in fish diets used in aquaculture. Supplementing with carotenoids is widely used in shellfish feed, including shrimp and lobster, red porgy, salmon, and trout. Carotenoids are essential during the larval stage of aquaculture species, and fish larvae have a significantly greater survival rate when fed on live feeds incorporating carotenoids. SkyQuest predicts that more than 20% of the world’s consumption of fish and other aquaculture products is anticipated to come from cultured aquaculture as opposed to wild catch, which will drive the market’s expansion over the study period.
In addition, it is anticipated that the North American region would see the strongest CAGR due to expanding technological advancements for high-standard animal feed and stringent government regulations to increase the carotenoids concentration in livestock feed products. Additionally, it is anticipated that the market would expand throughout the projected period owing to the existence of specific standards and regular tests related to the food supplied to animals and birds.
Leading businesses have prioritized quality through significant expenditure in product research and development to stand out in this crowded industry. These investments have been made in order to diversify their product offering and develop new items in response to their consumers’ evolving needs. It might be difficult to keep up with these changes, but if you have the right knowledge, you can stay on top of things. This is where the research report from SkyQuest comes in. This comprehensive source of information provides a wealth of key insights into the global feed carotenoids market, covering everything from market trends and key players to product innovations and investment strategies.
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Key Developments in the Feed Carotenoids Market
- A revolutionary purchase has been made, according to Nutreco NV, a top supplier of animal nutrition and aquaculture solutions. A large share in Eruvaka, a company that offers smart technology solutions to shrimp farmers, has been bought by the company. Through this tactical step, Nutreco’s aquaculture business line Skretting will be able to provide equipment and software for shrimp farms all over the world.
- EW Nutrition introduced a new strategy to aid chickens in maintaining a healthy gut. Pretect D is a unique blend of phytomolecules that helps keep farm profitability high and birds healthy. Pretect D has proven effective in trials even when Eimeria-related issues arise. This makes it a beneficial supplement to initiatives that emphasize intestinal health.
- With the launch of ENTEROSURETM, Kemin Industries, a top supplier of cutting-edge animal feeding products, completely changed the livestock sector. This cutting-edge probiotic product is intended to enhance ideal gut health in chickens and cattle by inhibiting the development of dangerous microorganisms. The probiotic treatment aids animals in maintaining healthy digestive function and preventing digestive illnesses by strengthening intestinal resistance and addressing difficulties with gut health.
Key Questions Answered in the Feed Carotenoids Market Research Report
- What is the estimated growth rate of the global market, and what is the projected market size?
- What factors are driving the growth of the global market, and what are the emerging trends?
- Which market segments are expected to grow most in the next few years?
- Are any specific market regions expected to experience exceptional growth in the coming years?
Related Reports in SkyQuest’s Library:
Global anti corrosion coatings market
Global Rigid Plastic Packaging Market
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