The report "Feed Enzymes Market by Type (Phytase, Protease, and Carbohydrase), Livestock (Ruminants, Swine, Poultry, and Aquatic Animals), Source (Microorganism, Plant, and Animal), Form (Liquid and Dry), and Region - Global Forecast to 2022", The feed enzymes market was valued at USD 842.9 Million in 2016. It is projected to grow at a CAGR of 9.3% from 2017, to reach 1,428.6 Million by 2022.
Browse 61 Market Data Tables and 47 Figures spread through 145 Pages and in-depth TOC on "Feed Enzymes Market - Global Forecast to 2022"
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Increase in production/consumption of animal-based products, the high cost of feed in livestock farming, ban on antibiotics as growth promoters, and positive impact on the environment are a few major drivers of the feed enzymes market. The replacement of expensive fish meal with feed enzymes and a rise in awareness about feed quality provide feed enzyme manufacturers and distributors with lucrative opportunities. Hence, feed enzymes will be viewed as a business opportunity in the next five years.
Significant growth expected in the protease segment
Protease helps farmers save on feed costs, owing to which the use of protease can contribute significantly to the current efforts on reducing nitrogen emissions during livestock production. Hence, the protease is an emerging type of feed enzyme that has been gaining popularity in the recent years.
Aquatic animals projected to be the fastest-growing livestock segment during the forecast period
With the globally increasing demand for fish and fish-based products, the demand for feed enzymes in the aquafeed industry is also projected to increase. The rising cost of fishmeal has further encouraged feed manufacturers to use enzymes in aquafeed as an economical alternative protein sources.
Liquid projected to be the faster-growing segment, by form
On the basis of form, the liquid segment is larger in the global feed enzymes market. It is the more convenient, economical, and effective then dry enzymes in animal feed. Such benefits have opened lead to opportunities for the feed enzymes industry.
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Significant growth expected in the microorganism segment
The increasing demand for new, enhanced or/and more multipurpose enzymes in order to improve the animal feed and microbial diversity and recent molecular techniques, such as metagenomics and genomics, drive the microorganisms segment.
Asia-Pacific to be the fastest-growing region during the forecast period
Increase in need for food security, high investment in R&D, and change in farming practices form the key to success in the Asia-Pacific region. Growth of population, progressive urbanization, and change in food habits among the consumers (increase in demand for quality meat products) have spurred the demand for feed enzymes in the region. China is estimated as the largest market for feed enzymes in the region. Substantial growth is witnessed in India, Japan, Vietnam, and Pakistan, due to the increase in buying power of the population and demand for protein-rich meat diets. Such factors drive the Asia-Pacific region in the feed enzymes market.
The key companies include BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (Netherlands), and Adisseo France SAS (France). These are well-established and financially stable players that have been operating in the industry for several years. Other significant players include Azelis Holdings SA (Belgium), Rossari Biotech Ltd (India), BIO-CAT (U.S.), and Alltech Inc. (U.S.).
