Latest Innovation in Global Feed Enzymes Market
(I-BusinessNews.Com, May 22, 2020 ) The report "Feed Enzymes Market by Type (Phytase, Carbohydrase, and Protease), Livestock (Poultry, Swine, Ruminants, and Aquatic Animals), Source (Microorganism, Plant, and Animal), Form (Dry and Liquid), and Region – Global Forecast to 2025" The global feed enzymes market size is projected to reach USD 2.0 billion by 2025, which was estimated at USD 1.2 billion in 2019; it is projected to grow at a CAGR of 9.1% from 2019.
One of the major factors driving the feed enzyme industry is the provision of cost-efficiency in the use of feed. Also, the increasing demand for animal-based products, such as meat products, dairy products, and eggs, and the rise in the global demand for naturally produced feed additives have been driving the growth of this market.
The phytase segment, by type, is projected to dominate the feed enzymes market during the forecast period.
Phytases are digestive enzymes that release plant phosphorus from phytic acid; monogastric animals, such as poultry birds, lack sufficient phytases to release this phosphorus. Adding extra phytases to the diet increases phytate breakdown and consequent utilization of plant phosphorus. According to DuPont, one of the major feed enzyme manufacturers, phytases are the most widely used type of feed enzymes in the world, included in 90% of poultry and 70% of swine diets. This segment accounted for the highest share of almost 48.0% in 2019 at a global level. Thus, increasing phytic acid degradation and the need to improve the availability of plant phosphorus could offer major benefits for poultry and swine producers, including lower levels of inorganic phosphorus inclusion in diets, reduced feed costs, and better sustainability of animal production.
The microorganism segment, by source, is projected to dominate the feed enzymes market during the forecast period.
The microorganism segment dominated the feed enzymes market in 2019, owing to the higher use of these sources to extract feed enzymes. Microorganisms remain highly prominent and suitable hosts to produce stable and industrially important feed enzymes. Enzymes extracted from microorganisms are of great importance in the manufacturing of animal feed. Currently, molecular techniques, such as metagenomics and genomics, are used to discover microbial enzymes, which are used in the feed industry to improve feed quality.
Based on livestock, the poultry segment is projected to witness the highest growth in the feed enzymes market in terms of value.
According to OECD-FAO Agricultural Outlook 2017–26, the global poultry meat production stood at 118.1 MMT (130.18 MT) in 2017 and is expected to increase by about 11% over the next decade. The production of poultry for meat is also likely to be dominating more than half the growth of all the additional meat produced by 2025. Such rapid growth in poultry meat production is expected to increase the demand for superior quality feed further, thereby propelling the market for feed enzymes.
Many domestic and global players provide feed enzymes to improve animal health and performance. Major manufacturers have their presence in the European and Asian countries. The key companies in the feed enzymes market are Cargill, Incorporated (US), BASF SE (Germany), DowDuPont (US), Bluestar Adisseo Co., Ltd. (China), and Koninklijke DSM NV (Netherlands). Various strategies, such as expansions, mergers & acquisitions, and new product launches, were adopted by the key companies to remain competitive in the feed enzymes market.
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