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"The Global feed enzyme market size is estimated to account for ~ US$ 1.2 Billion in 2019, estimated to record a CAGR of 8% during the forecast period."
Nowadays, market players are acquainting feed enzymes to improve efficiency and milk production of ruminants, which benefits farmers by cutting down feed costs. The growing interest for the animal protein, raising animal population, consumer preferences and the benefits of the enzymes is boosting the growth of the feed enzymes market. This positive trend pulls more players to enter the feed enzyme market and is expected to boost the growth of feed enzymes market.
Apart from this, a high demand for carbohydrates is expected to support the growth of the global feed enzymes market. High awareness among consumers and high benefits offered via carbohydrase intake helps in improving digestion and nutritional absorption.
One of the biggest challenges acting as a restraint for the global animal feed enzymes market is the high cost involved in the production of animal feed enzymes.
The Microorganism Segment, by Source, is anticipated to hold a substantial share in the Feed Enzyme Market during the forecast period
The microorganism segment dominated the feed enzyme market in 2019, owing to the higher utilization of these sources to separate the food enzyme. Microorganism remains a highly prominent and appropriate host to create stable and industrially important feed enzymes. Enzymes extracted from microorganisms are vital in the manufacturing of animal feed. Currently, molecular techniques, such as genomics and metagenomics, are utilized to find microbial enzymes, which are utilized in the feed industry to improve feed quality.
Based on livestock, the poultry segment is projected to witness the highest growth in the feed enzymes market in terms of value.
As per OECD-FAO Agricultural Outlook 2017-26, the global poultry meat production was witnessed at 118.1 MMT (130.18 MT) in 2017 and is estimated to increase by about 11% over the next 10 years. The production of poultry for meat is expected to grow and dominate the meat produced by 2025. Such rapid growth in poultry meat production is expected to increase the demand for superior quality feed further, thereby propelling the market for feed enzymes.
Growing Demand for Animal Protein in the Global Feed Enzyme Market
Despite the increasing concerns about greenhouse gas emission and few other rising environmental-related problems due to the livestock industry, meat utilization is increasing year by year. Concurring to the organization for economic Coordination and development, meat utilization has risen from 115 million metric tons in 2017 to 117 million metric tons in 2018. The feed enzymes are used to assist the animal in easy digestion and to ensure that the animal gets complete nutrition or diet from the feed fed to them. The increasing demand for the animal protein, raising animal population and the benefits of the enzymes are connected with the feed enzymes market which is driving the market in a positive trend.
The Asia Pacific is projected to witness the highest growth in the feed enzymes market during the forecast period.
Among all regions, Asia Pacific is expected to grow at the highest CAGR of XX% during the forecast period. In terms of value, the Asia Pacific feed enzymes market is projected to grow at the highest CAGR during the forecast period. Presence of a large livestock population (FAO 2018) and their growth rate, the increase in the number of feed mills in the region, which further boosts the growth in feed production, particularly in countries, such as, Japan and India, are projected to boost the market growth in coming years.
However, North America is expected to witness a high market share in feed enzymes market as the region has witnessed high demand for quality meat products and is expected to witness growth in a few years to come.
The feed enzymes market is highly consolidated and is organized in emerging economies. Leading players in the feed enzymes market are focusing on product launches to expand their customer base. Prominent players in the feed enzymes market are also investing in strategic collaborations, mergers, acquisitions, and partnerships. The key companies in the feed enzymes market are Incorporated (US), BASF SE (Germany), Cargill, Koninklijke DSM NV (Netherlands), DowDuPont (US) and Bluestar Adisseo Co., Ltd. (China).
- Various strategies, such as merger & acquisition, expansion, and the new product launches, were adopted by the key players to remain competitive in the global feed enzyme market.
- In August 2017, a Leading player such as Cargill Inc, acquired Southern States Cooperative’s animal feed business to enhance its global presence in the eastern United States.
- Leading players in the global feed enzymes market are presently targeting emerging regions, including the Asia Pacific and Latin America, to expand their geographical presence.
Market Segmentation of Feed Enzyme Market:
Market Segmentation, by Type:
- Others (mannanase, lipase, and galactosidase)
Market Segmentation, by Livestock:
- Aquatic Animals
- Others (pets and equine)
Market Segmentation, by Source:
Market Segmentation, by Form:
Market Segmentation, by Region:
- North America
- South America
- Middle East & Africa