Global Feed Enzymes Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Enzyme Type (Carbohydrases, Phytases, Proteases), By Livestock (Ruminants, Swine, Poultry, Aquatic Animals, Others), By Form (Liquid, Dry), By Source (Animal, Plant, Fungi), And By Geography - Forecasts From 2022 To 2027
- Published : Jan 2023
- Report Code : KSI061613060
- Pages : 141
The global feed enzymes market is estimated to grow at a CAGR of 9.84%, reaching a market size of US$1,755.860 million in 2027, from US$910.478 million in 2020. over the coming years owing to the growing demand for proper animal nutrition and the rising animal population which is driving the feed enzymes market in a positive way.
Feed takes up most of the total cost of livestock farming. Feed enzymes are used to help animals improve their digestion and ensure animals get proper nutrition from the feeds that are fed to them. They are generally classified as carbohydrases, phytases, and proteases, of which phytases are commonly used feed enzymes. The use of even a single enzyme can result in a significant reduction in the overall cost incurred on animal feed, resulting in more profitable products, thus increasing its demand further.
There are some stringent policies and regulations in place regarding animal welfare and food safety, which are estimated to impact the feed enzymes market. For example, the market is highly regulated in regions such as Europe and North America and requires constant approval for the sale of such enzymes in these regions. Therefore, such regulatory initiatives are projected to restrain the growth of the feed enzymes market during the forecast period.
By Enzyme Type
On the basis of enzyme type, the global feed enzymes market is segmented as carbohydrase, phytase, and protease. Phytase is a commonly used enzyme and holds a significant market share as it promotes higher feed than other forms of feed enzymes and helps in better and more efficient growth of animals. Carbohydrase enzyme is such an enzyme that includes key enzymes such as amylase and xylanase which improve the digestibility of carbohydrates and thus it also holds a good amount of share in the feed enzymes market.
By livestock, the global feed enzyme market is segmented as ruminants, swine, poultry, aquatic animals, and others. Poultry has a significant market share and will continue to do so during the forecast period as they are increasingly in demand around the world. According to the OECD-FAO Agricultural Outlook 2018-2027, poultry will strengthen its strong position in the meat industry and will account for almost 45% of the meat produced during the period 2018-2027. Feed enzymes for swine are also estimated to show a good share in the market owing to the presence of multiple key players and products catering to this segment. For example, KEMIN sells a product KENZYME Plus for Piglets which combines three different NSP enzymes (xylanase, beta-glucanase, and cellulase) for the degradation of structural NSP and two different endogenous-like enzymes (amylase and protease) to enhance the action of the enzymes secreted in the GIT.
On the basis of form, the global feed enzyme market can be segmented as liquid and dry. The liquid-form enzymes hold a significant share in the market owing to the ease with which they can be mixed with the feed for the livestock. Many factors contribute to the popularity and preference for these types of enzymes, which are their higher suitability and, most importantly the cost-efficiency. Such advantages make this the most widely used form of feed enzymes.
By source, the global feed enzyme market can be segmented as plant-based, animal-based, and fungi based. Out of these, fungi based are more commonly used due to the fact that microorganisms are easier and more efficient to use as they are more stable in extreme conditions and can be altered in the laboratory to cater to the exact needs of the customer. Such benefits of microorganisms make them widely used and popular in animal feed, thus responsible for their significant share in the feed enzymes market.
By geography, the global feed enzyme market is segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and South America. Asia-Pacific is estimated to hold a good amount of share in the market. Regions like, China and India are one of the largest providers of animal meat, and account for a large share of agricultural animals, thus increasing the demand for feed and feed additives, such as feed enzymes in these regions. Furthermore, the demand for locally grown meats, such as poultry and pork is also rising in these regions, which is further expected to increase the demand for feed additives in the region.
The global feed enzyme market is competitive owing to the presence of well-diversified international, regional, and local players. The competitive landscape details strategies, products, and investments being made by key players in different technologies and companies to boost their market presence.
- January 2022: BASF successfully expanded the production facility of the company’s feed enzymes plant located in Ludwigshafen.
- December 2021: BASF launched a new sustainable feed enzyme product named Natupulse TS for animal feeds.
- November 2021: Adisseo launched its new product, Rovabio PhyPlus as an addition to its feed enzyme products under the Rovabio range.
- February 2020: BEC Feed Solutions successfully set up a novel manufacturing facility in order to expand and redevelop its Carole Park location. The new facility features a manufacturing plant that is equipped with integrated technology that is unique to the premix industry, a fresh warehouse, and an adjoining two-storied office building.
- December 2019: Nutrex BE took the decision to merge with Agrimex, which is a supplier of high-quality premixes, additives, and raw materials in the European animal feed industry. With this, they would continue with all their activities together in the animal feed sector under the brand name Nutrex.
The COVID-19 outbreak had a moderate impact on the feed enzyme industry. The supply chain got disrupted owing to a restricted supply of enzymes. Even though the demand for this feed was relatively constant, the supply side witnessed a significant impact from the coronavirus outbreak. However, the demand for these feed enzymes saw an increase in livestock in the first and the second quarters of 2020 due to numerous farmers resorting to panic buying these feed additives in the anticipation of potential shortages in near future. Several concerns, like the closure of restaurants, supply chain hindrances, and international trade barriers, encouraged the breeders to stock up on their feed enzymes and supplies. This has led to a growth in the demand for feed enzymes over the first week of April 2020. The pandemic also showed an impact on the activities of some major market players. For instance, BASF SE, in April 2020, took the call on stopping its smart Verbund project, which at that time was in its initial phase with a planned investment of about USD 10 billion.
Global Feed Enzymes Market Scope:
|Market Size Value in 2020||US$910.478 million|
|Market Size Value in 2027||US$1,755.860 million|
|Growth Rate||CAGR of 9.84% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Enzyme Type, Livestock, Form, Source, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||BASF SE, E.I. du Pont de Nemours, AB Enzymes, DSM, Adisseo, Azelis S.A., Rossari Biotech Limited, BIO-CAT, Alltech|
|Customization Scope||Free report customization with purchase|
The global feed enzymes market has been segmented by enzyme type, livestock, form, source, and geography.
- By Enzyme Type
- By Livestock
- Aquatic Animals
- By Form
- By Source
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Driver
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL FEED ENZYMES MARKET, BY ENZYME TYPE
6. GLOBAL FEED ENZYMES MARKET, BY LIVESTOCK
6.5. Aquatic Animals
7. GLOBAL FEED ENZYMES MARKET, BY FORM
8. GLOBAL FEED ENZYMES MARKET, BY SOURCE
9. GLOBAL FEED ENZYMES MARKET, BY GEOGRAPHY
9.2. North America
9.3. South America
9.4.3. United Kingdom
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.3. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.1. BASF SE
11.2. E.I. du Pont de Nemours
11.3. AB Enzymes
11.6. Azelis S.A.
11.7. Rossari Biotech Limited
E.I. du Pont de Nemours
Rossari Biotech Limited
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