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Feed Enzymes Market Analysis
The global feed enzymes market will touch USD 3.8 billion at a 5.78% CAGR by 2030, as per the recent Market Research Future report.
Drivers
Growing Need for Animal Based Products to Boost Market Growth
The growing demand for items made from animals is what propels the feed enzyme market. People are choosing foods that are more nourishing and healthier as their eating habits change. As a result, there is a growing market need for protein-based goods like dairy, eggs, and meat, which drives up the need for feed enzymes for animal feed and so propels the expansion of the global feed enzyme market.
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Key Players
Eminent market players profiled in the global feed enzymes market report include Top of FormBASF SE (Germany), E. I. du Pont de Nemours & 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.).
Opportunities
Environmental Concerns to offer Robust Opportunities
Environmental issues related to the cattle business include waste production and greenhouse gas emissions. Enzymes used in feed can have a positive influence on the environment by increasing nutrient utilization and reducing waste generation. This is in line with the rising customer desire for ecologically friendly and more sustainable methods of raising cattle.
Restraints and Challenges
High R&D Investment to act as Market Restraint
The high R&D investments and higher inclusion rate of enzymes may act as market restraints over the forecast period. Besides, the COVID-19 impact may also impede market growth.
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Market Segmentation
The feed enzymes market is bifurcated based on type, form, and livestock.
By type, the phytase feed enzymes will lead the market over the forecast period. Because phytase enzymes are present in feed items, animals may absorb phosphorus & other minerals more quickly. It can increase digestibility of phosphorus (P), amino acids, calcium, and energy while reducing the anti-nutritional effects of phytate. Better pelleting, higher premix stability, and a longer shelf life are further advantages of phytase. To satisfy dietary demands such protein as meat consumption grows, phytase usage in animal feed must be raised.
By livestock, swine will domineer the market over the forecast period. Numerous nutrients that are not digested in the swine production can be absorbed thanks to genetic and technological breakthroughs. Feed enzymes are often used in animal feed to break down the protein and facilitate digestion. As swine output rises and implants for the Feed Enzymes have a beneficial influence on the market’s expansion, the need for animal feed enzymes is likely to rise.
By form, dry will spearhead the market over the forecast period. Enzymes in dry formulation have become an important format in animal feed industry as a result of their simple and practical application. It can tolerate the temperature during the preparation of feed and has superior thermal stability. The use of dry-form animal feed enzymes provides a number of advantages, such as simple handling, spill-free storage, & simple transportation.
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Regional Analysis
North America to Command Feed Enzymes Market
The market for feed enzymes in North America reached USD 1.2 billion during 2022 and is anticipated to increase at a high CAGR over the research period. Projections indicate that both technical advancement and a rise in the quantity of animals will contribute to industry growth. Major manufacturers of meat-based goods are motivated to focus on new initiatives & investments by the rising demand for meat products. Given that rising livestock rearing results in a significant increase in demand for meat, the regional market figures should be backed up. Because of the rising need for the nutritive protein-based feed product amid the countries within the area, North America is anticipated to account for the greatest revenue share throughout the projected period. The rising cattle population in the region’s nations is another element boosting market revenue growth. By 2020, there will be over 93.8 million cows and calves in the United States alone. Consequently, as the number of livestock in the region’s nations rises, so does the need for feed enzymes that is fueling the region’s revenue growth.
APAC to Have Admirable Growth in Feed Enzymes Market
From 2023 to 2030, the CAGR for the feed enzymes market in Asia-Pacific is anticipated to be the highest. The major causes of this tendency are a growth in feed mills and the quantity of cattle. These factors have increased competition in the market for the feed enzymes. Additionally, the Asia-Pacific region’s feed enzymes market in China had the highest market share, while the market in India had the quickest rate of expansion. With China, India, & Japan serving as the principal manufacturers in the area, the Asia Pacific is quickly becoming one of the top markets for feed enzymes. Due to rising populations, increased consumer spending power, and changes in lifestyle & eating habits, China and India are driving the growth of the chicken and pork markets in the Asia Pacific region. The region’s market is also being pushed by the growing demand for food security, which has resulted in significant expenditures in the industry’s research and development. Adapting farming methods in the area is also helping the market.
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