Nov 17, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Feed Enzymes Market.
It was estimated prior to this unanticipated outbreak that the Feed Enzymes Market is likely to witness an impressive CAGR of 9.1% during the forecast period. The major factor primarily driving the market for feed enzymes is the growing concern regarding animal health and surge in demand for the nutrient uptake of feed.
Feed enzymes are gaining significant traction as they help to reduce feed costs, increase the nutritional value of feed ingredients, improve the environment, all while maintaining or improving animal performance.
Feed enzymes are of different types such as phytase, protease, carbohydrase, and others. Phytase is the most preferred type as considered by the animal feed manufacturers and livestock producers to be used as an enzyme.
Segment Analysis
Based on the type, the market is segmented as phytase, protease, carbohydrase, and others. Being preferred by most of the animal feed manufacturers and livestock producers, phytase is estimated to hold the majority of the share of the segment during the forecast period. Usage of phytase in feed provides with some advantages such as it offers the highest activity at low pH; helps in improvement of bone health, body weight gain, enhances digestive efficiency by breaking down indigestible phytic acid and thus, acts as an aid in the release of digestible phosphorus, calcium, and other nutrients that aid the growth of animals.
Based on the source type, the feed enzymes market is segmented as microorganism, plants, and animals. The microorganism segment is projected to be the dominant type during the forecast period. Microorganisms are highly prominent and are the suitable hosts to produce enzymes that are stable and industrially important. Enzymes extracted from microorganisms play a significant role in the manufacturing of animal feed.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing market for feed enzymes during the forecast period. Factors driving the growth of the region’s market are the presence of a large livestock population (FAO 2016) and their growth rate, the increase in the number of feed mills in the region, which further reflects the growth in feed production, mostly in countries, such as India and Japan. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Key players operating in the global Feed Enzymes market are-
- BASF SE
- Dowdupont
- Koninklijke DSM N.V
- Bluestar Adisseo
- Cargill Incorporated
- Associated British Foods PLC
- Novozymes A/S
- Advanced Enzyme Technologies
- Kemin Industries Inc.
- Novus International Inc.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Feed Enzymes analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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