The new report by Expert Market Research titled, 'Global Feed Enzymes Market Size, Share, Growth, Analysis, Report and Forecast 2020-2025', gives an in-depth analysis of the global feed enzymes market, assessing the market based on its segments like types, applications, forms, 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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Market Overview (2015-2025)
1. Historical Market Size (2019): 965 KMT
2. Forecast CAGR (2020-2025): 6.3%
3. Forecast Market Size (2025): 1393 KMT
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Animal feed accounts for a major part of the total cost of livestock production. Reducing the cost of feed is of priority to the livestock owner, which can be achieved with the help of feed enzymes. The feed enzymes improve the digestibility of feed, leading to better nutrient absorption. Hence, by using these enzymes, the nutrient density and the production and procurement costs for the feed is reduced, which reduces wastage. As they increase the gut health of animals, they also minimise environmental pollution. With the increasing meat consumption, the livestock population has increased, which is expected to aid the growth of the feed enzymes market. Limitations on antibiotics as growth enhancers in the E.U. and the overall effect of feed enzymes of livestock health is projected to boost the usage of feed enzymes in the coming years.
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Industry Definition and Major Segments
Enzymes refer to the natural proteins, which are produced during the digestion process. As among livestock, like poultry, swine, cattle, horses, and sheep, the digestive process tends to be inefficient, there is an urgent need to improve the digestibility of feed for these animals. Thus, feed enzymes add to the enzymes already being produced by the animals and help digest feed faster. Feed enzymes, when added, also improve the nutritional content of the feed. This leads to an improvement in energy and nutrient utilisation by the animals and enhances animal immunity.
Based on product types, the feed enzymes can be classified as:
Carbohydrase and protease are the leading enzymes that act as additives to animal feed.
Based on application, the market can be segmented into:
Based on form, the market is divided into:
1. Dry Form
2. Liquid Form
Regionally, the industry is segmented into:
1. North America
2. Latin America
3. Middle East and Africa
5. Asia Pacific
The growth of this market can be attributed to the rising consumption of meat and dairy products in the household and hotel industries. This causes a rise in the livestock population globally, causing an increase in the demand for feed enzymes. Increasing instances of livestock diseases due to poor food intake is a concern for consumers, which is making more livestock-rearers turn to feed enzymes. The environmentalist lobby supports feed enzymes as they reduce wastage and prevent pollution. With increasing health awareness, more governments are expected to ban drugs, develop favourable laws, and provide incentives to feed enzyme manufacturers. These factors are expected to aid the growth of the market. The lower cost of feed management amidst the growing demand for meat will influence the market positively.
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., Biovet Inc., Wenger Feeds LLC, 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 A.B. 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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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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