Market Research Report
Global Feed Enzymes Market Share, Size - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||408239|
|Published||Content info||127 Pages
Delivery time: 2-3 business days
|Global Feed Enzymes Market Share, Size - Growth, Trends and Forecasts (2020 - 2025)|
|Published: February 1, 2020||Content info: 127 Pages||
The global feed enzymes market was valued at USD 1.18 billion in 2018, and it is expected to register a CAGR of 4.6% during the forecast period . Asia-Pacific is projected to be the fastest-growing market.
Growing demand for animal protein
Despite the increasing concerns about greenhouse gas emission and several other emerging environmental related problems due to the livestock industry, meat consumption is increasing year by year. According to the Organisation for Economic Co-ordination and Development, meat consumption has raised from 114 million metric tons in 2017 to 116 million metric tons in 2018. Poultry meat is the most consumed by humans with per capita consumption of 30.6 kilograms per year, followed by pork with per capita consumption of 23.5 kilograms per year and beef and veal with per capita consumption of 14.8 kilograms per year.
The feed enzymes are used to help animals in easy digestion and to ensure that animals get a complete diet or nutrition from the feeds fed to them. Enzymes also help in obtaining good feed efficiency which in turn reduces the feed costs and increases the profitability. The increasing demand for the animal protein, raising animals population and the benefits of the enzymes are correlated with the feed enzymes market which is driving the market in a positive trend.
Asia-Pacific remains the largest market
Asia-Pacific is the largest market for feed enzymes in 2018 valued USD 411.7 million which is projected to remain the largest market during the forecast period 2019-2024, whereas Europe and North America hold the second and third positions. The Asia-Pacific market is expected to register a high CAGR during the study period (2019-2014), whereas all other regions are expected to register a moderate growth rate. China and India being a larger market in the Asia-Pacific region, their larger population is one of the major factors for Asia-Pacific remaining as the largest market in the world.
The feed enzymes market is a fragmented market with many players in the market. BASF SE, Biocatalyst, AB Enzymes, Advanced Enzymes Technologies are few international players in the market. The players in the market are taping the market potential by various activities including acquisition of other companies, investing in their R&D facilities and more.