The new report by Expert Market Research titled, ‘Global Feed Enzymes Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global feed enzymes market growth, assessing the market based on its segments like type, application, form, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market (2022): USD 1.51 Billion
• Forecast CAGR (2023-2028): 7.4%
• Forecast Market (2028): USD 2.32 billion
The Asia Pacific region is rising at a fast pace to become one of the most significant markets for feed enzymes, with China, India, and Japan as the top producers in the region. Due to the rising population, increased buying power among customers, and a shift in lifestyle and eating habits, the Asia Pacific market is being led by a growing demand for poultry and pork in China and India.
The region’s demand is also being influenced by the growing need for food security, which has resulted in significant investments in industry research and growth. The sector is also benefiting from changes in farming practises throughout the country.
Industry Definition and Major Segments
Enzymes are naturally occurring proteins that are formed by the digestive process. However, animals such as poultry, swine, goats, horses, and sheep have inefficient digestive systems.
As a result, adding enzymes to feed is essential to increase its consistency. Feed enzymes not only aid in the digestion of farm animals but also increase the nutritional quality of the feed, resulting in better energy and nutrient consumption.
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The feed enzymes market is divided into the following types:
• Phytase
• Protease
• Carbohydrase
• Others
The market is segmented on the basis of application into:
• Ruminants
• Poultry
• Swine
• Aquaculture
On the basis of form, the industry is divided into:
• Dry Form
• Liquid Form
The regional markets for the product include:
• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa
Market Trends
The global meat industry is rising due to an increase in meat intake, which is driving the feed enzymes demand. In 2016, poultry was the most common livestock category in which feed enzymes were used the most. There has been an increase in the market for poultry around the world, and feed enzymes help poultry birds develop faster and have a stronger immune system.
The industry has also benefited from an increase in the number of farm animals as a result of rising demand for animal proteins. Antibiotics as growth promoters have been banned in the European Union and other areas of the world, which has aided the growth of the feed enzymes industry as customers gradually use these enzymes as antibiotic substitutes.
People are now increasingly favouring the use of feed enzymes because of their additional health benefits, which reduce the risk of metabolic diseases in animals, as well as their long-term environmental benefits.
Key Market Players
The major players in the market are Novozymes Inc., DSM Nederland B.V., DuPont Co., Archer Daniels Midland Company, BASF, Novus International, Inc., BioResource International, Inc., Bioproton Europe Oy, AVEVE Biochem NV, VEMO 99 Ltd., Palital Feed Additives B.V., Phytobiotics Futterzusatzstoffe GmbH, Bioseutica B.V., Kemin Industries, Inc., Amano Enzymes, and AB Enzymes GmbH.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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