Feed enzymes are either plant-derived or chemical ingredients used to boost the quality of the animal nutrition as well as nutritional properties of the animal fodder. The feed enzyme helps to stimulate and secrete digestive enzymes, which, in turn, boost an immune response. Additionally, feed enzymes market is observing an exponential growth based on its high usage in the feed industry. Rising health concerns is one of the major factors contributing to the growth of the global feed enzymes market.
With the growing consumer awareness and their increasing interest in healthy lifestyle, the demand for feed enzymes has increased to great extent. In addition to the changing lifestyle, the growing demand for feed enzymes, rising meat consumption, quality feed, industrialization of livestock, and the prevention of diseases in livestock are expected to drive the global feed enzymes market.
Increasing demand for animal feed products with high protein content is driving the growth of the feed enzymes market. Furthermore, advance processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the market. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has boosted the share of feed enzymes in the global market.
The global feed enzymes market is projected to propel by increasing awareness regarding available health benefits to farm animals from the feed enzymes. Increased awareness about the feed enzymes has raised the bar of feed quality, which, in turn, has increased the share of global feed enzyme market. The global feed enzymes market is expected to grow at a CAGR of 9.2% during the forecast period 2017-2023.
Global 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.
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.
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 global feed enzymes market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the feed enzymes market followed by the Asia Pacific owing to rising population followed by increasing consumption of poultry and meat products in developing regions. Moreover, China is the major exporter of poultry and meat, which, in turn, drives the market of feed enzymes in the Asia Pacific region.
Key players in the feed enzymes market are largely located in North America and Europe. Key players following strategies of merger and acquisition with small players to expand their business in other regions due to increasing demand for feed enzymes in the animal feed industry.
Feed enzymes market is segmented on the basis of type, livestock, form, and region.
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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.)
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