The market report on the Feed Enzymes Market published by Stratview Research indicates lucrative growth opportunities in the Feed Enzymesindustry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.
Feed Enzymes Market Forecast:
The Feed Enzymes Market is likely to witness an impressive CAGR of 9.1% during the forecast period. The major factor primarily driving the market for feed enzymes is the growing concern regarding animal health and the surge in demand for the nutrient uptake of feed.
Here are the key players in the market –
- BASF SE
- Koninklijke DSM N.V
- Bluestar Adisseo
- Cargill Incorporated
- Associated British Foods PLC
- Novozymes A/S
- Advanced Enzyme Technologies
- Kemin Industries Inc.
- Novus International Inc.
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Feed Enzymes Market Segmentation:
Based on the type, the market is segmented as phytase, protease, carbohydrase, and others. Being preferred by most animal feed manufacturers and livestock producers, phytase is estimated to hold the majority of the share of the segment during the forecast period. The usage of phytase in feed provides some advantages such as it offers the highest activity at low pH; helps in the improvement of bone health, and body weight gain, enhances digestive efficiency by breaking down indigestible phytic acid and thus, acts as an aid in the release of digestible phosphorus, calcium, and other nutrients that aid the growth of animals.
Based on the source type, the feed enzymes market is segmented into microorganisms, plants, and animals. The microorganism segment is projected to be the dominant type during the forecast period. Microorganisms are highly prominent and are suitable hosts to produce enzymes that are stable and industrially important. Enzymes extracted from microorganisms play a significant role in the manufacturing of animal feed.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for feed enzymes during the forecast period. Factors driving the growth of the region’s market are the presence of a large livestock population (FAO 2016) and their growth rate, the increase in the number of feed mills in the region, which further reflects the growth in feed production, mostly in countries, such as India and Japan. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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