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Non-starch Polysaccharide (NSP) Enzyme Market Size, Regional Overview, Competitive Landscape, Business Growth, Share Analysis And Forecast To 2033
Non-starch Polysaccharide (NSP) Enzyme Market
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According to The Business Research Company's, The non-starch polysaccharide (NSP) enzyme market size has grown strongly in recent years. It will grow from $0.97 billion in 2023 to $1.02 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to animal nutrition efficiency, human health and nutrition, agricultural waste utilization, regulatory support and policies, and market demand for plant-based products.
The non-starch polysaccharide (NSP) enzyme market size is expected to see strong growth in the next few years. It will grow to $1.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to the growth of plant-based diets, expansion of biofuel production, rising global population, climate change mitigation efforts, economic factors, and cost efficiency. Major trends in the forecast period include the growth of plant-based diets, expansion of biofuel production, rising global population, climate change mitigation efforts, economic factors, and cost efficiency.
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Market Drivers and Trends:
The increasing demand in the animal feed industry is expected to propel the growth of the non-starch polysaccharide (NSP) enzyme market going forward. Animal feed is a mixture of ingredients formulated to provide essential nutrients for the growth, health, and productivity of livestock and poultry. The demand in the animal feed industry is growing due to increasing global meat consumption and the expansion of livestock farming. Non-starch polysaccharide (NSP) enzymes are used in animal feed to break down complex carbohydrates, enhancing nutrient digestibility and improving overall animal growth and health. For instance, in March 2024, according to the Department of Agriculture, Environment, and Rural Affairs, a UK-based government department, animal feed deliveries in quarter 4 of 2023 rose to 691.9 thousand tons from 598.8 thousand tons in quarter 3, marking an increase of 93.1 thousand tons, or about 15.5%. Therefore, the increasing demand in the animal feed industry is driving the growth of the non-starch polysaccharide (NSP) enzyme market.
Major companies operating in the non-starch polysaccharide (NSP) enzyme market are focusing on developing new enzyme products, such as feed enzymes, that improve nutrient digestion and make feed more cost-effective and sustainable. A feed enzyme is a specialized protein that enhances the digestion of nutrients in animal feed, improving overall feed efficiency and animal health. For instance, in December 2021, BASF SE, a Germany-based chemical company, launched the Natupulse TS, which is characterized by its advanced formulation designed to enhance the thermal stability of enzymes in animal feed. This innovative product ensures sustained enzyme activity across a wider range of temperatures, optimizing nutrient digestion and absorption in livestock, thereby improving feed efficiency and overall animal performance.
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Major Key Players of the Market:
Archer Daniels Midland Company, BASF SE, AB Enzymes GmbH, Koninklijke DSM N.V., Trouw Nutrition USA LLC, Alltech Inc, Bluestar Adisseo, Kemin Industries Inc., Qingdao Vland Biotech Inc., Genscript Biotech Corporation, Novus International Inc., Nofima Marin AS, EW Nutrition GmbH, Rossari Biotech, Nutrex, The Aumgene Biosciences Pvt Ltd, Leveking Biotech Co. Ltd., VEMO 99 Ltd, Glamac International Pvt. Ltd., Engormix
Non-starch Polysaccharide (NSP) Enzyme Market 2024 Key Insights:
• The non-starch polysaccharide (NSP) enzyme market size is expected to see strong growth in the next few years. It will grow to $1.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Rising Animal Feed Demand Fuels Growth In Non-Starch Polysaccharide (NSP) Enzyme Market
• Advancements In Non-Starch Polysaccharide (NSP) Enzyme Solutions For Animal Feed Optimization
• Asia-Pacific was the largest region in the non-starch polysaccharide (NSP) enzyme market in 2023
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