Analyst perspective
The global feed enzymes market is expected to register a CAGR of 7.4%. The feed enzymes market's growth is expected to be driven by cost-effective feed solutions, increased demand for animal-based products, and the desire for naturally produced feed additives. Improved meat quality, higher egg production, and overall animal health are key factors boosting the consumption of animal-based food products. However, challenges such as difficulties in cellulose hydrolysis and potential harmful effects from high enzyme inclusion rates may hinder market growth. Opportunities lie in advancements in phytase production methods, while research investments and enzyme thermostability pose potential challenges for the feed enzymes market shortly.
Market Overview
Feed enzymes play a crucial role in improving animal nutrition and enhancing the quality of animal fodder by providing additional nutrients during digestion. A significant global feed enzyme market trend involves a growing need for phytase enzymes. These enzymes play a crucial role in enhancing the digestibility of phytase, a compound in plant-based food ingredients that boosts the availability of essential nutrients like phosphorus and calcium for animal growth. The increasing preference for plant-based diets in livestock and poultry, coupled with a heightened focus on sustainable animal production practices, is fueling the demand for phytase enzymes. Additionally, ongoing enzyme technology advancements and the introduction of innovative enzyme formulations are anticipated to contribute to the market's expansion in the forecasted period.
Market Drivers
- Growing populations and increasing disposable incomes lead to higher meat, poultry, and dairy consumption, which drives the need for efficient animal feed conversion and improved productivity.
- Feed enzymes break down complex nutrients in feed that animals struggle to digest on their own, improving nutrient utilization, reducing waste and cost savings, and increasing animal health and performance.
- Feed enzymes reduce nitrogen and phosphorus excretion in animal manure, minimizing environmental pollution and promoting sustainable livestock farming. Concerns about antibiotic use in animal feed and its impacts on human health and antibiotic resistance encourage using alternative growth promoters like feed enzymes.
Market Segmentation
The global feed enzymes market is segmented based on type, livestock, form, and source. The feed enzymes market is segmented based on type into phytase, protease, and carbohydrase. The feed enzymes market is segmented based on livestock into ruminants, swine, poultry, aquatic animals, and others. The feed enzymes market is segmented based on form into liquid and dry. The feed enzymes market is segmented based on source into microorganisms, plants, animals, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives an overview and forecast of the global feed enzymes market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The feed enzymes market by region is also sub-segmented by respective countries and segments. The feed enzymes market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the feed enzymes market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the feed enzymes market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the feed enzymes market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the feed enzymes market are estimated to have lucrative growth opportunities with the increasing demand for livestock globally.
The report includes key company profiles, swot analysis, and feed enzyme market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the feed enzymes market:
- BASF SE
- Adisseo France Sas
- Alltech
- DSM
- Cargill Inc
- Azelis Holdings
- Novozymes
- Bio-Cat
- Kemin
- Novus International