Feed Enzymes Market is poised to cross USD 118.25 Billion in 2021
Added: (Tue Mar 13 2018)
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The Global Feed Enzymes market has been estimated at USD 85.5 Billion in 2016 and is projected to reach USD 118.25 Billion by 2021, at a CAGR of 6.7% during the forecast period from 2016 to 2021. Enzymes are natural proteins secreted by all animals as part of the feed digestion process. Enzymes are formed and secreted in the body to digest carbohydrates, lipids, proteins and other mineral complexes. Commercial enzymes which are also termed as exogenous enzymes, are used to enhance the natural process of digestion.
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The end consumers of feed enzymes are farmers, compound feed manufacturers, integrators, livestock and aquaculture industry. Feed enzymes are added in animal nutrition to improve utilization of energy and nutrients or to degrade undesired components. Usage of enzymes improves profitability of livestock farmers and also reduces environmental pollution
The major drivers of the market are the increase in global population and rise in demand for healthy meat products due to increasing concern over livestock disease outbreak, and concern for environment. Penetration of organized retail sector is also a major driver boosting the market. Complex Regulatory Environment is restraining the growth of the market due to doubts about the efficacy of the products and consequently late regulatory approvals. Rising cost of important raw materials and price volatility of agricultural commodities are major restraints in the market. Feed enzymes when used in higher quantities are found to have negative effects due to which the demand might fall, hindering the market growth.
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Global market for Feed Enzymes is segmented into Ingredient and animal type. Each of these segments are further sub segmented into, Ingredients: Carbohydrase, Phytase, others and Animal Type: Ruminant, Swine, Poultry, Aquaculture and others. Poultry and swine segments comprises majority of feed enzyme market share followed by ruminants. Carbohydrase is the most widely used enzymes.
Geographically Global Market for Feed Enzymes is segmented into North America, Europe, Asia-Pacific, Latin America and, Middle East and Africa. Europe is the largest market with poultry being the largest segment. Asia-Pacific is the fastest growing market with a share of 27%.
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Major players are investing in setting up new plants and mergers & acquisition in foreign markets for business expansions. Major companies in the market are DuPont, DSM, BASF Corporation, Alltech, Novozymes and Adisseo France. Other Major players in the market are AB Enzymes GmbH, Advanced Enzymes Technologies Limited, Amano Enzyme Inc. Bio Vet JSC, Biocatalysts ltd, Chr. Hansen Inc, Enmex Sa De Cv, Lesaffre Group, PURATOS GROUP, Rossari Biotech Limited, Shenzhen Leveking Bio-Engineering Co. Ltd and Sunson Industry Group Company Limited.
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