Feed Carotenoids Market Trends

Global meat consumption continues to rise, influenced by population growth, urbanization, demographic shifts, income levels, price fluctuations, and environmental and health considerations. This growth pattern is evident in the USDA data, which shows the United States leading global poultry meat consumption in 2023 with 17.9 million metric tons. China followed as the second-largest consumer with 15 million metric tons, marking an increase from 14.4 million metric tons in the previous year, while the European Union consumed 10.2 million metric tons. As a result of this increasing demand for animal protein sources, the livestock industry faces mounting pressure to expand production, which consequently drives growth in the feed carotenoids market.

The world is experiencing significant demographic changes, characterized by an expanding middle-income population and higher income levels, which have fundamentally altered dietary preferences toward increased per capita consumption of meat and seafood. According to the OECD-Agriculture Outlook 2024-2033, this shift is reflected in projected per capita fish consumption reaching 21.4 kg (live weight equivalent) by 2033, representing a 2.7% increase from 20.8 kg in the base period 2021-2023. To meet this growing demand, global fish production, including capture fisheries and aquaculture, is anticipated to expand from 185 million metric tons during the base period to 206 million metric tons by 2033. This growth trajectory, coupled with anticipated improvements in livestock and aquaculture yields through enhanced feed management practices and increased compound feed usage, is expected to strengthen the demand for feed carotenoids during the forecast period.