Press release
Feed Enzymes Market reached USD 1.6 billion in 2021 and estimated to touch USD 2.9 billion in 2029 increasing at 7.8% CAGR during 2022-2029 | Size, Share & Growth
Feed Enzymes Market
For Additional Insights, Click to Access Complete Report -
https://www.gmiresearch.com/report/feed-enzymes-market/
The factors driving the growth of Feed Enzymes Market includes rising concerns related to animal's health, emerging need to enhance cattle's performance, increasing consumption of animal derived products such as meat, eggs and dairy products and improvements in the living standards Moreover, rise in the livestock population, growing demand for naturally produced feed and feed additives, technological innovations in the production of phytase and increasing trend of using enzymes as feed additives instead of antibiotics and rapid urbanization, are some of the additional factors supplementing the Feed Enzymes Market size. In addition, the increasing investments by leading players on research and development and rising disposable incomes, are further contributing towards the market growth
However, growth of the Feed Enzymes Market is hindered due to complexities in hydrolysis process of cellulose and strong inclusion rate of enzymes.
The leading players operating in the market are Kemin Industries, Inc., Associated British Foods plc, Advanced Enzyme Technologies, Cargill, Incorporated, BASF SE, DowDuPont, Novus International, Inc., Novozymes A/S, Bluestar Adisseo Co. and Koninklijke DSM N.V., among others.
Based on Type, the Phytase segment is predicted to grow at a significant CAGR during the forecast period
Phytase improves bone health, helps in gaining bodyweight and enhances digestive efficiency in animals along with rise in the launch of innovative products, are some of the factors responsible for the segment's growth.
Based on Source, the Microorganism segment is projected to expand at a robust CAGR over the forecast period
Increasing application of microorganisms in the production of enzymes and technological innovations in genomics and metagenomics techniques, are propelling Global Feed Enzymes Market.
Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period
Rise in the livestock population across India, Vietnam, and China, growing consumption of meat products, rapid urbanization, technological innovations in feed enzymes techniques, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In 2021 - Danisco Animal Nutrition planned to expand the industry-leading novel phytase enzyme, Axtra PHY GOLD, across Malaysia, Thailand, and Australia.
In 2019, BASF developed Natuphos® E phytase enzymes for the feed industry in Indonesia. Natuphos E phytase enzymes focus on enhanced utilization of various nutrients, thus making livestock cost-effective and environment friendly.
Market Segmentation
Segmentation by Function
Performance Enhancement
Feed Efficiency
Segmentation by Type
Phytase
Protease
Carbohydrase
Xylanase
Amylase
Cellulase
Other Carbohydrase
Others
Segmentation by Source
Microorganism
Plant
Animal
Segmentation by Form
Dry
Liquid
Segmentation by Livestock
Poultry
Broilers
Turkeys
Layers
Others
Swine
Starter
Grower
Sow
Ruminants
Calves
Dairy Cattle
Beef Cattle
Others
Aquatic Animals
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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