PUBLISHER: The Business Research Company | PRODUCT CODE: 1427967
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427967
Plant-based feed enzymes are enzymes derived from plant sources and are utilized as feed additives in animal nutrition. These enzymes provide various nutritional advantages and contribute to the breakdown of specific feed ingredients, including phytates, glucans, and proteins, which may pose digestion challenges for animals.
The main types of plant-based feed enzymes include phytase, protease, and carbohydrate enzymes. Phytases are enzymes that catalyze the hydrolysis of phytic acid (or phytate) and its salts. In the context of plant-based feed enzymes, phytase plays a crucial role in reducing the antinutritional effects of phytate and enhancing the digestion of essential nutrients such as phosphorus, calcium, amino acids, and energy. These plant-based feed enzymes are available in both liquid and dry forms, catering to various livestock categories, including ruminants, swine, poultry, aquatic animals, pets, and horses.
The plant-based feed enzymes market research report is one of a series of new reports from The Business Research Company that provides plant-based feed enzymes market statistics, including plant-based feed enzymes industry global market size, regional shares, competitors with a plant-based feed enzymes market share, detailed plant-based feed enzymes market segments, market trends and opportunities, and any further data you may need to thrive in the plant-based feed enzymes industry. This plant-based 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 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 growth observed in the historical period can be attributed to several factors, including the adoption of enzymes for improved nutrient utilization in animal nutrition, the increased use of plant-derived ingredients in feed formulations, industry efforts to reduce antibiotic use in livestock, scientific research supporting enzyme supplementation benefits, and the expansion of the aquaculture and poultry sectors.
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%. The anticipated growth in the forecast period can be attributed to factors such as the increasing demand for animal protein, a growing awareness of feed efficiency, regulatory support for animal health and nutrition, a focus on sustainable agriculture and animal husbandry practices, and a shift towards natural and clean label products. Major trends expected in the forecast period include the globalization of livestock production, the adoption of enzyme cocktails for enhanced feed efficiency, increased research in enzyme functionality, the integration of precision nutrition in animal diets, and the development of multi-enzyme blends to support animal nutrition.
The anticipated growth of the plant-based feed enzymes market is driven by a substantial livestock population. The term 'livestock population' refers to the count of domesticated animals raised for various purposes such as food and labor. Plant-based feed enzymes play a crucial role in meeting the nutritional requirements of livestock and improving feed utilization efficiency. For example, the sheep and lamb population in England increased by 2.0%, rising from 14.6 million in 2021 to 14.9 million in 2022. This growth in the livestock population is a key factor propelling the expansion of the plant-based feed enzyme market.
The plant-based feed enzyme market is expected to benefit from the increased production of crops such as wheat and corn. Crop production involves the cultivation of crops for both domestic and commercial purposes. The heightened production of crops such as wheat and corn enhances the availability of plant-based ingredients for animal feed. Plant-based feed enzymes contribute significantly by breaking down complex components in these feedstocks, improving digestibility for animals. In 2022, corn for grain production reached 15.1 billion bushels in the United States, marking a 7% increase from the 2020 estimate. Additionally, the gross value of wheat in Australia rose by 33% to $13 billion in 2021-22. The increased production of crops, especially wheat and corn, acts as a driving force for the plant-based feed enzyme market.
A prominent trend in the plant-based feed enzymes market is product innovation, with major companies developing inventive products to maintain their market positions. In December 2021, BASF introduced Natupulse TS, an innovative feed enzyme designed to extract valuable nutrients from soybean meal and other plant-derived protein sources. This product includes non-starch-polysaccharide (NSP) enzymes, particularly beta-mannanase, which enhances the energy digestibility of nutrients, making feed more cost-effective and supporting sustainable animal protein production.
Leading companies in the plant-based feed enzyme market are strategically focusing on product launches and expansions, particularly in novel phytase enzymes. Phytase enzymes catalyze the hydrolysis of phytic acid, addressing input challenges in the animal nutrition industry. In July 2021, Danisco Animal Nutrition expanded its novel phytase enzyme, Axtra PHY GOLD, into Malaysia, Thailand, and Australia. This plant-based feed enzyme provides flexibility and consistency, releasing greater phosphorus, calcium, energy, and amino acids. It mitigates the antinutritional effects of phytate, enhancing digestion and performance in animals, contributing to improved sustainability and cost savings for producers.
In December 2021, DSM acquired Vestkorn Milling for $70 million. This acquisition positions DSM to broaden its product portfolio of plant-based feed enzymes. Vestkorn Milling, based in Norway, specializes in yeast extracts and enzymes that enhance protein taste and functionality for plant-based foods, pet foods, and animal feed.
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.
North America was the largest region in the plant-based feed enzymes market in 2023. The regions covered in the plant-based feed enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the plant-based feed enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The plant-based feed enzymes market consists of sales of amylase, invertase, papain, bromelain, ficin, and lipoxygenase. 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.
Plant-Based 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 plant-based 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 plant-based 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 plant-based 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.
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The continued but declining impact of covid 19 on supply chains and consumption patterns.