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Analyzing the Worldwide Impact and Size of Plant-Based Feed Enzymes Market - Cargill Incorporated, BASF SE, Associated British Foods Plc, DuPont, DSM, Novozymes
Plant-Based Feed Enzymes Market
The Business Research Company's Plant-Based Feed Enzymes Global Market Report 2023 identifies a large livestock population is the major driver for the plant-based feed enzymes market's growth in the forecast period. Livestock population refers to the number of domesticated animals kept for food, labor, and other purposes. Plant-based feed enzymes fulfill the demand for livestock by addressing specific nutritional challenges and enhancing the efficiency of feed utilization. For instance, in February 2023, according to the UK government service website, the number of sheep and lambs in England had increased by 2.0% from 14.6 million in 2021 to 14.9 million in 2022.
The global plant-based feed enzymes market size is expected to grow from $1.76 billion in 2022 to $1.83 billion in 2023 at a compound annual growth rate (CAGR) of 3.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of plant-based feed enzymes market is expected to reach $2.04 billion in 2027 at a CAGR of 2.8%.
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Major competitors in the plant-based feed enzymes market are Cargill Incorporated, BASF SE, Associated British Foods Plc, DuPont, DSM, Novozymes, Bluestar Adisseo Co. Ltd., Chr. Hansen Holding A/S, Kemin Industries Inc., Novus International Inc., Huvepharma, Advanced Enzyme Technologies, Bestzyme, Maxgrow Biotech Pvt. Ltd.
A key trend in the plant-based feed enzymes market includes product innovations. Major companies operating in the plant-based feed enzymes market are developing innovative products to sustain their position in the market. For instance, in December 2021, BASF, a Germany-based chemical company, launched Natupulse TS, an innovative feed enzyme to unlock valuable nutrients from soybean meal and other plant-derived protein sources in commercial diets.
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The plant-based feed enzymes market is segmented -
• By Type: Phytase, Protease, Carbohydrase
• By Form: Liquid, Dry
• By Livestock: Ruminants, Swine, Poultry, Aquatic animals, Pets, Horses
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the plant-based feed enzymes market.
The Business Research Company's "Global Plant-Based Feed Enzymes Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Plant-Based Feed Enzymes Market Include:
1. Executive Summary
2. Plant-Based Feed Enzymes Market Characteristics
3. Plant-Based Feed Enzymes Market Trends And Strategies
4. Plant-Based Feed Enzymes Market - Macro Economic Scenario
5. Plant-Based Feed Enzymes Market Size And Growth
……………
27. Plant-Based Feed Enzymes Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Plant-Based Feed Enzymes Market
29. Plant-Based Feed Enzymes Market Future Outlook And Potential Analysis
30. Appendix
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