Feed enzymes are the catalyst or chemicals that are released by cells in order to speed up certain chemical reaction in digestive tract to help in food digestion. On account of UN ban on using antibiotics in animal feed as a growth promoter, customers are looking forward to alternative solution to boost performance of animal feed to improve digestion system among animals without affecting ecosystem. According to Future Market Insights report, by the end of the forecast period, the global feed enzymes market is estimated to reach at US$ 1,406 Mn from US$ 837 Mn and expected to register a CAGR of 4.9% during the forecast period.
What is the presumptive scenario for feed enzymes market among regions?
Among regions, North America is highly likely to represent lucrative region for feed enzymes market. Growing demand for enhanced protein for animal feed is expected to surge demand for feed enzymes in this region during the forecast period. This is attributed to growing adoption of feed enzymes in animal feed to replace use of antibiotics. Other driving factors to elevate demand for feed enzymes are enhancement of feed supplement, low cost of feed enzymes and high performance observed among animals. Thereby, several feed enzyme producers are actively focused on strategic production capacity expansion in order to meet growing future demand in this region.
Other than North America, Europe and Asia-Pacific excluding Japan (APEJ) is expected to witness fast growth owing to growing demand for poultry and ruminants during the forecast period.
After North America, what future scope do you see for feed enzymes market in APEJ?
Animal feed costs the most in the overall investments in poultry and livestock industries, nearly to 70% of the entire production cost. In order to cater the incurring cost, several manufacturers prefer to use feed supplement additives in animal feed. Thereby, helps to produce more meat per animal. Moreover, feed enzymes are also used to prevent animals from zoonotic and food borne diseases. Emerging regions like APEJ and Middle East & Africa (MEA) are observed as more prone to frequent disease outbreaks. Thereby, market player involved in poultry and ruminant industry these region are expected to encourage adoption of feed enzymes in animal feedstock during the forecast period.
Which feed enzyme forms are highly used in animal feedstock to offer substantial growth in animal performance?
Feed enzymes are primarily available in two basic forms for carbohydrase, protease and phytase. Among these, carbohydrase are expected to witness substantial growth owing to its increasing demand across the globe. Increasing sales of carbohydrase feed enzymes is highly likely to contribute towards revenue growth of feed enzymes market during the forecast period.
Who are the leading manufacturers to account for valuable share in feed enzymes market?
Several feed enzymes producers are focusing to establish string tie up with distribution channels in order to expand business and keep continuous supply of feed enzymes. Furthermore, companies are focusing to strengthen their distribution base in order to fortify market position at both domestic and international platform. In addition, feed enzyme manufacturers are likely to invest heavily in research and development field in order to upgrade existing feed enzyme products to gain high performance among animals in a cost effective manner. Companies such as E. I. du Pont de Nemours & Co., Cargill Inc., BASF SE, Novozymes A/S, Associated British Foods plc, Chr. Hansen Holding A/S and Koninklijke DSM N.V are implementing abovementioned strategies to attain promising opportunities in feed enzymes market during the forecast period.
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