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Plant-Based Feed Enzymes Market Growth, Demand, Key Drivers: Forecast To 2033
Plant-Based Feed Enzymes Market Growth
As per the report, the plant-based feed enzymes market size has grown steadily in recent years. It will grow from $1.83 billion in 2023 to $1.89 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The plant-based feed enzymes market size is expected to see steady growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%.
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Large Livestock Population Driving Growth In Plant-Based Feed Enzymes Market
A large livestock population is expected to propel the growth of the plant-based feed enzymes market going forward. 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. Therefore, the large livestock population is driving the growth of the plant-based feed enzyme market.
Innovative Product Launches Shape The Landscape Of Plant-Based Feed Enzymes Market
Product innovation is a key trend gaining popularity in the plant-based feed enzymes market. 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. It has non-starch-polysaccharide (NSP) enzymes such as beta-mannanase, which aids in improving the energy digestibility of nutrients, making the feed more cost-effective and supporting more sustainable animal protein production.
The plant-based feed enzymes market covered in this report is segmented -
1) By Type: Phytase, Protease, Carbohydrase
2) By Form: Liquid, Dry
3) By Livestock: Ruminants, Swine, Poultry, Aquatic animals, Pets, Horses
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Major companies operating in the plant-based feed enzymes market report 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., Xike Biotechnology Co. Ltd., Amano Enzyme Inc., Aumgene Biosciences, AUM Enzymes, Jiangsu Boli Bioproducts Co.Ltd., Antozyme Biotech, Beijing Smistyle Sic. &Tech. Development Co. Ltd., XD BIOCHEM, Biolaxi Corporation, Lee BioSolutions, Calzyme Inc.
Contents of the report:
1. Executive Summary
2. Plant-Based Feed Enzymes Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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