The global feed enzymes market accounted for a value of USD 1.0 billion in 2019 and is projected to register growth at a CAGR of 6.9% during forecast period.
COVID-19 has impacted the feed enzymes market. The business of feed enzymes is significantly affected due to pandemic however there is no significant impact on the operation of manufacturing unit and the supply chain is also not much affected due to spread of corona virus. Many manufacturing units are operating during lockdown. Due to pandemic, BASF SE decided to stop its Verbund project in April 2020, in which company is planning to invest USD 10 billion. The market will foresee growth post COVID-19.
For more details, visit: Global Feed Enzymes Market By Type (Protease, carbohydrase, Others), By Source (Animal, Microorganism, Others), By Form (Dry and Liquid), By Livestock (Aquatic Animals, Ruminants, Others), By Region, Forecast & Opportunities to 2026
Feed productions consist of approx 60% of total cost in livestock production which reduces feed cost per livestock. The cost is most important for manufacturers around the world. It provides nutritional value which helps in improving digestibility of feed. The adoption of feed enzymes is increasing across the world and this drives growth in feed enzymes market during forecast period.
On the basis of type, the feed enzymes market is segmented into protease, carbohydrase, phytase and others. The carbohydrase segment is estimated to be fastest growing market during forecast period. Carbohydrase is largely preferred by livestock producers and animal feed manufacturers to use it as enzymes. The carbohydrase has many advantages such as it helps animals digesting food and it enables monogastric animals digest food by better percentage. Carbohydrase enzymes are very effective and it helps in increasing amount of energy available from feed ingredients. The increasing adoption of carbohydrase around the world drives growth in carbohydrase segment during forecast period.
On the basis of source, the feed enzymes market is segmented into microorganism, plant and animal. The microorganism segment is estimated to dominate the market during forecast period. The microorganism is highly preferred to extract feed enzymes and it highly suitable hosts to produce industrially vital and stable feed enzymes. The enzymes extracted from microorganism are highly preferred by manufacturers of animal feed. The enzymes extracted from microorganism are discovered from genomics and metagenomics molecular techniques. It helps in improving feed quality. The increasing adoption of microbial enzymes drives growth in microorganism source during forecast period.
On the basis of livestock, the feed enzymes market is segmented into swine, poultry, aquatic animals, ruminants and others. The poultry segment is estimated to dominate the market during forecast period followed by swine livestock. Poultry segment is projected to register growth at highest CAGR during forecast period. The consumption trend is shifting rapidly and adopting poultry meat around the world. The demand is increasing for poultry products and this increase the demand for feed enzymes during forecast period.
Asia-Pacific region is estimated to hold largest market share during forecast period. The livestock population is very large in this region. The rate of livestock population is increasing rapidly. Many feed manufacturers are establishing their foot in this region. Various feed mills have been setup here. The market for feed enzymes is growing in various countries such as Japan, India and China. This drives growth in feed enzymes market during forecast period.
The key market players in feed enzymes industry are BASF SE, Dupont, Koninklijke DSM N.V., Bluestar Adisseo, Cargill, Associated British Foods, Novozymes, Advanced Enzyme Technologies, Kemin Industries, Novus International, Azelis Holdings, Alltech, Bio Cat, Rossari Biotech, Biovet JSC, Bec Feed Solutions, Bioresource International, ADM and Amorvet.
- What are the expected industry trends over the next three to five years?
- Which of the feed enzymes type is likely to lead by 2025?
- Which of the form segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?