PUBLISHER: The Business Research Company | PRODUCT CODE: 1414211
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414211
“Feed Enzymes Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on feed enzymes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for feed enzymes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The feed enzymes market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Feed enzymes are protein-based biological catalysts employed to enhance digestion by breaking down starch, protein, and fat in the digestive system. This process aims to improve feed utilization, increase nutrient availability, and mitigate the impact of anti-nutrients derived from the feed, ultimately optimizing nutrient capture efficiency.
The primary types of feed enzymes include protease, phytase, carbohydrase, and others. Proteases, specifically, are enzymes that hydrolyze protein peptide bonds, converting them into shorter polypeptides and amino acids. The incorporation of proteases into animal feed serves to facilitate digestion, enhance nutrient absorption, and improve overall protein utilization. These enzymes can be derived from various sources, including microorganisms, plants, and animals, and are available in diverse forms such as dry, liquid, and others. The application of feed enzymes extends to various livestock categories, including swine, poultry, ruminants, aquatic animals, and more.
The feed enzymes market research report is one of a series of new reports from The Business Research Company that provides feed enzymes market statistics, including feed enzymes industry global market size, regional shares, competitors with a feed enzymes market share, detailed feed enzymes market segments, market trends and opportunities, and any further data you may need to thrive in the feed enzymes industry. This feed enzymes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The feed enzymes market size has grown strongly in recent years. It will grow from $1.72 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth observed in the historical period can be ascribed to factors such as improved feed conversion efficiency, adherence to regulatory approvals and compliance, increased awareness of environmental impacts, a shift towards sustainable agriculture practices, reduction in feed costs, and the globalization of the animal feed industry.
The feed enzymes market size is expected to see strong growth in the next few years. It will grow to $2.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be attributed to factors such as the increasing demand for antibiotic alternatives, a heightened focus on promoting gut health, ongoing research on enzyme functionality, efforts for climate change mitigation in agriculture, and the global challenges faced in animal health. Major trends expected in the forecast period include the digitalization of feed formulation, the integration of enzymes in premixes, the development of customized enzyme blends, advancements in enzyme technology, and the promotion of sustainable and eco-friendly solutions.
The anticipated increase in meat consumption is poised to drive the growth of the feed enzymes market in the future. Meat, comprising the flesh of animals consumed for its protein, vitamins, and minerals, stands as a significant dietary source. Enzymes are commonly integrated into animal feeds to mitigate the adverse effects of antinutritional elements in raw feed materials, enhancing performance. This practice contributes to supplying more meat per animal at a reduced cost while promoting overall long-term well-being. According to the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organization for trade, global meat consumption per capita is projected to rise by 0.3% annually to reach 35.4 kg in retail weight equivalent by 2030. Poultry meat is expected to represent 41% of all protein from meat sources, showing a 2% increase in 2030 due to its perception as a healthier food choice, affordability, and ease of preparation. Hence, the surge in meat consumption propels the feed enzymes market.
Stringent regulations on antibiotic usage are anticipated to drive the growth of the feed enzymes market in the future. Antibiotics, a class of drugs used to inhibit or kill bacteria, have traditionally been employed in animal feeds. However, concerns about resistance and public health have led to regulations restricting antibiotic use, prompting a shift toward antibiotic-free systems in animal production. Feed enzymes play a crucial role in this transition by serving as alternatives to antibiotic growth promoters. They contribute to digestive health, nutrient absorption, and improved feed efficiency. For instance, in November 2022, the European Union implemented new laws prohibiting the routine use of antibiotics in farmed animals, addressing global concerns about antibiotic overuse and antimicrobial resistance, with implications for animal welfare and global food imports. Therefore, stringent regulations on antibiotic usage are steering the growth of the feed enzymes market.
Product innovation stands out as a key trend gaining momentum in the feed enzymes market. Major companies operating in this market are embracing new technologies to maintain their market position. An example of this is seen in December 2021 when BASF SE, a Germany-based chemicals company, introduced Natupulse TS, a novel enzyme product designed for animal feed. This product incorporates a non-starch polysaccharide (NSP) enzyme that catalyzes the hydrolysis of B-mannans into smaller components such as manno-oligosaccharides (MOS). Natupulse TS utilizes mannanase to cleave these B-mannans, enhancing feed nutrient digestion. Furthermore, the MOS produced by B-mannan hydrolysis may exhibit prebiotic properties.
Major companies in the feed enzymes market are actively developing enzyme blends tailored for high-fiber piglet diets to secure a competitive advantage. High-fiber piglet diets refer to feed formulations for young pigs (piglets) that incorporate a substantial amount of dietary fiber. In March 2023, International Flavors & Fragrances, Inc., a US-based chemical manufacturing company, launched Axtra PRIME, a new enzyme blend specifically addressing challenges in piglet production. Axtra PRIME combines xylanase, beta-glucanase, alpha-amylase, and protease enzymes to address the changing dietary needs in the livestock industry driven by economic and sustainability considerations. This blend is formulated to enhance nutrient digestion and utilization in high-fiber diets, ultimately improving piglet performance.
In January 2023, Novus International Inc., a US-based animal health and nutrition company, acquired Agrivida Inc. for an undisclosed amount. This strategic move aims to gain ownership of Agrivida's proprietary INTERIUS technology, which embeds feed additives inside grain, thereby enhancing Novus International's product portfolio in the field of feed enzymes. Agrivida Inc. is a biotechnology company based in the US that specializes in the manufacturing and commercialization of enzyme solutions for livestock feed.
Major companies operating in the feed enzymes market report are BASF SE, Koninklijke DSM N.V., Adisseo France SAS, Associated British Foods plc, Alltech Inc., E. I. du Pont de Nemours and Company, Archer Daniels Midland Company, Novozymes A/S, Novus International Inc., Kemin Industries Inc., BioResource International Inc., Rossari Biotech Limited, Azelis Holding S.A., Behn Meyer Holding AG, BEC Feed Solutions B.V., Bioproton Pty. Ltd., Chr. Hansen Holding A/S, Danisco Animal Nutrition, Enzyme Innovation Oy, Enzyme Supplies Limited, EnzymeWorks Inc., Epygen Labs Inc., Feedworks Pty. Ltd., Guangdong VTR Bio-Tech Co. Ltd., Huvepharma Inc., Kerry Group plc, Lallemand Animal Nutrition, Lesaffre Group, Lonza Group AG, MGP Ingredients Inc., Nutrex NV, Oy Veli-Matti Karkkainen Oyj
Asia-Pacific was the largest region in the feed enzymes market in 2023, and is expected to be the fastest-growing region in the global feed enzymes market during the forecast period. The regions covered in the feed enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the feed enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The feed enzymes market consists of sales of amylase, mannanase, pectinase, xylanase, and lipase. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.