ID: MRFR/AGR/3694-HCR | February 2021 | Region: Global | 110 pages
Feed Enzymes market is expected to reach USD 3.80 billion at a CAGR 5.78% during the forecast period 2021-2030.
Feed enzymes are used to enhance the quality of animal nutrition as well as improve the nutritional properties of animal fodder. Enzymes are natural proteins secreted by animals as a part of the feed digestion process. Feed enzymes improve the feed performance when added, as they offer additional nutrients such as minerals and vitamins to the animal feed.
Feed enzymes have gained status globally because they improve the quality as well as quantity produced by the animals. Changing lifestyles and consumers’ preferences towards a healthy diet, natural products, and increasing meat consumption are the key drivers of the market. Growing health concerns among the increasing global population together with increasing awareness about the benefits of feed enzymes are expected to uplift the demand for feed enzymes. For instance, poultry feed enzymes are used to improve the bird’s egg-laying capacity, disease prevention, as well as feed utilization.
The growing population in developing countries has increased the demand for the production of poultry, ruminants, and other livestock for consumption, which has uplifted the demand for feed enzymes in the market. Furthermore, increasing consumption of poultry and meat products is adding fuel to the growth of the global feed enzymes market.
High nutritional benefits obtained from feed enzymes are also supporting its sale across the globe. Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the feed enzymes market during the forecast period 2017-2023.
The feed enzymes market is segmented into type, livestock, and form.
On the basis of the type, it is segmented into protease, phytase, and others. Among all, the phytase enzyme segment is dominating the market followed by whey protease enzyme owing to the presence of phosphorus content that is helpful in improving animal metabolism as well as reproduction.
On the basis of the livestock, it is segmented into swine, poultry, ruminants, aquatic animals, and others. Among all, the poultry segment is dominating the market. These additives are used for the processing of ruminant feed plays an important role in terms of improving animal health, digestibility, maximum utilization of nutrients, and minimizing the environmental impact.
On the basis of the form, it is segmented into dry, liquid, and others. The dry form segment is dominating the market due to its ease of handling and good thermal stability.
The feed enzymes market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the market followed by the Asia Pacific owing to the increasing demand for nutritive protein-based feed products among the developed countries of these regions. Canada, Germany, the U.K, the U.S., and China are the major importers of feed enzymes.
Moreover, the rising demand for poultry products in countries like the U.S., Canada, and Mexico in the North American region is projected to boost the feed enzymes market during the forecast period. Additionally, the major key players are actively involved in the research & developments of the product conforming to North American regulations for feed fortification with feed enzymes.
Some of the key players profiled in the feed enzymes market: BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K), Koninklijke DSM N.V. (the Netherlands), Behn Meyer Holding AG (Germany), Adisseo France SAS (France), Azelis Holding S.A. (Belgium), Novus International, Inc. (U.S.), Rossari Biotech Ltd. (India), and Alltech, Inc. (U.S.)
The feed enzymes market is segmented into the following regions
Rest of the world
The report for feed enzymes market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected feed enzymes market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Frequently Asked Questions (FAQ) :
feed enzymes market is projected to grow at approximately 5.78% CAGR during the assessment period (2021-2030).
On the basis of the type, the phytase enzyme segment, on the basis of the livestock, the poultry segment, and on the basis of the form, the dry form segment, accounts for the major shares in the global feed enzymes market.
Augmenting demand for animal feed products with high protein content led by the growing consumer awareness about the protein content, rising meat consumption, and industrialization of livestock, are major tailwinds pushing the growth of the global feed enzymes market.
North America holds the largest share in the global feed enzymes market, followed by the Asia Pacific and Europe, respectively.
BASF SE (Germany), Associated British Foods plc (U.K), E. I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V. (the Netherlands), Adisseo France SAS (France), Behn Meyer Holding AG (Germany), Azelis Holding S.A. (Belgium), Rossari Biotech Ltd. (India), Novus International, Inc. (U.S.), and Alltech, Inc. (U.S.), are some of the top players operating in the global feed enzymes market.