Press release
Steady Rise in the Global Plant-Based Feed Enzymes Market: Impacted by Increased Adoption and Advancements
Plant-Based Feed Enzymes Market Size
What Is The Projected Market Size Of The Global Plant-Based Feed Enzymes Market And Its Growth Rate?
The plant-based feed enzymes market has been experiencing steady growth which is set to continue:
• 2025 Market Size: $1.95 billion (3.4% CAGR)
• 2029 Market Size: $2.19 billion (3.0% CAGR)
The growth has been driven by factors such as improved nutrient utilization, use of plant-derived ingredients in feed, and expansion of aquaculture and poultry sectors.
What Is Driving The Growth In The Plant-Based Feed Enzymes Market?
The surge in the plant-based feed enzymes market is largely spurred by an enlarging livestock population. These animals, kept for food, labor, and other uses, require a specific diet to ensure their health, thereby boosting the demand for plant-based feed enzymes. For instance, between 2021 to 2022, the number of sheep and lambs in England alone saw an increase of 2.0%, positively impacting the plant-based feed enzyme market.
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Who Are the Key Players Driving Plant-Based Feed Enzymes Market Growth?
The following key players are driving the plant-based feed enzymes market growth:
• Cargill Incorporated
• BASF SE
• Associated British Foods Plc
• DuPont
• DSM
• Novozymes
• Chr. Hansen Holding A/S
• Kemin Industries Inc.
• Novus International Inc.
What Are The Key Trends In The Plant-Based Feed Enzymes Market?
Key trends fostering market development include:
• Globalization of livestock production
• Adoption of enzyme cocktails for feed efficiency
• Increased research in enzyme functionality
• Integration of precision nutrition in animal diets
• Development of multi-enzyme blends
What Are The Segments Of The Global Plant-Based Feed Enzymes Market?
The plant-based feed enzymes market segments include:
1) By Type: Phytase, Protease, Carbohydrase
2) By Form: Liquid, Dry
3) By Livestock: Ruminants, Swine, Poultry, Aquatic animals, Pets, Horses
Which Region Leads The Plant-Based Feed Enzymes Market?
North America leads in the plant-based feed enzymes market as of 2024. Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa are other regions covered in this report.
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What Is Covered In The Plant-Based Feed Enzymes Market Global Market Report?
- Market Size Analysis: Analyze the Plant-Based Feed Enzymes Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Plant-Based Feed Enzymes Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Plant-Based Feed Enzymes Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Plant-Based Feed Enzymes Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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