Feed Enzymes Market Analysis, Growth Rate, Overview, Market Segmentation and Forecast By 2023
Market Overview and Grow Factors:
The feed enzymes help in stimulating and secreting digestive enzymes that help in boosting up the immune response. Enzymes are catalysts or chemicals that the cells release in order to boost up the speed of the specific chemical reactions. It is released in the digestive tract that helps the food to get digested. These enzymes today can be effectively made and mixed in animal feeds as feed enzymes. Generally, there are three types of enzymes that are utilized in poultry feeds namely proteases, carbohydrase and phytases. There are many factors that is driving the growth of the feed enzymes market. Some of these factors as per the Market Research Future (MRFR) report include increasing use of feed enzymes in feed industries, rising consumer awareness, increasing trend in healthy lifestyle, increasing meat consumption, demand for quality feed, industrialization of livestock, disease prevention in the livestock, demand for feed products rich in protein, advanced processing technologies and methods, increasing opportunities in the developing countries, high nutritional benefits and product enhancement.
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On the contrary, factors such as regulatory structure, interventions, and stringent protocols and rules concerning food safety and animal welfare may hamper the growth of the feed enzymes market. The global feed enzymes market is predicted to grow at an alluring 9.2% CAGR over the assessment period (2017-2023). Feed enzymes may either be chemical ingredients or plant-derived and is integral for increasing the feed ingredients’ nutritional value, improve the environment, reduce feed costs and maintain or improve animal performance.
Leading players profiled in the Feed Enzymes Market include Alltech, Inc. (U.S.), Rossari Biotech Ltd. (India), Novus International, Inc. (U.S.), Azelis Holding S.A. (Belgium), Adisseo France SAS (France), Behn Meyer Holding AG (Germany), Koninklijke DSM N.V. (the Netherlands), Associated British Foods plc (U.K), E. I. du Pont de Nemours and Company (U.S.), and BASF SE (Germany).
Sep 2018- Novozymes and DSM have jointly developed a novel enzyme product, Balancius. This feed ingredient has been specially designed for removing bacterial cell debris present in the animal’s gut thereby helping in optimizing digestibility and nutritional absorption. The breakthrough innovation possesses the potential of improving the feed industry’s efficiency through enhanced feed utilization, digestibility and weight gain.
Market Research Future report offers an all-inclusive segmental analysis of the feed enzymes market on the basis of grade type, livestock and form.
Based on type, it is segmented into phytase, protease and others. Of these, phytase enzyme will have the largest share in the feed enzymes market followed by protease enzyme due to the existence of phosphorus content which is helpful in reproduction and improving animal metabolism.
Based on livestock, the feed enzymes market is segmented into aquatic animals, ruminants, poultry, swine and others. Of these, poultry will lead the market over the assessment period. Such additives are utilized for processing ruminant feed that plays a pivotal part to improve animal health, utmost use of nutrients, digestibility and minimize the impact on the environment.
Based on form, it is segmented into liquid, dry and others. Of these, the dry form will rule the feed enzymes market owing to excellent thermal stability and ease of handling.
Based on region, the feed enzymes market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America will have the largest share in the feed enzymes market with the APAC region grabbing the second largest share due to rising need for nutritive feed products that are protein-based amid the regions developed countries. The key importers of such feed enzymes include China, the US, the UK, Germany and Canada. Besides, bourgeoning demand for poultry products especially in Mexico, Canada and the US is anticipated to drive the growth of the feed enzymes market in North America over the assessment period. Additionally, the key players are involved actively in the R&D of the product complying with the regulations in North America for fortification of feed with feed enzymes.