Feed Enzyme Market Insights by Geography, Competitive Landscape, Growth Drivers and Restraints
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With the global rise in demand of meat industry, and awareness among customers for the animal’s health and wellbeing, the considerable growth in the global feed enzyme market has been observed. Further, the need to opt for cheaper alternatives and to fulfill the globally growing demand of protein will drive the feed enzyme market in the coming years.
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The global feed enzyme market is segmented on the basis of type, livestock, form, source. On the basis of type, phytase held the largest share in the global market in 2016; in comparison to protease, carbohydrase, lipase, and non-starch polysaccharides. However, protease is expected to witness significant growth during the forecast period (2017 – 2023) due to its low cost and its ability to reduce nitrogen emission. On the basis of livestock, poultry livestock was the largest contributor to the global market in 2016, as a result of the high demand in poultry meat.
Europe accounts the largest share in the global feed enzyme market in 2016, followed by North America, owing to the larger consumption of meat in the European countries. Besides, research in these countries to generate better performing enzymes will strengthen the global market. Different countries in Asia-Pacific such as; China, India, Japan, Australia with the larger population and changing food habits are expanding the feed enzyme market and is expected to be the fastest growing market during the forecast period. China expected to be the largest consumer of feed enzyme in the Asia-Pacific market.
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Some of the key players in the global feed enzyme market are BASF SE, E. I. duPont de Nemours and Company, Adisseo France SAS, Rossari Biotech Ltd., Alltech Inc., Lesaffre & Cie, Associated British Foods plc, Koninklijke DSM N.V., Azelis S.A., Novus International Inc., and BIO-CAT.
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