World Market for Feed Enzymes to 2025 - Global Market Forecast to Register a CAGR of 7.3% During 2020 and 2025
DUBLIN, Feb. 8 2021 /PRNewswire/ -- The "Feed Enzymes Market - Growth, Trends and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global feed enzymes market is projected to register a CAGR of 7.3% during the forecast period. Rising awareness, increasing demand for animal nutrition, and the ban of antibiotics in many regions are prompting the livestock industry and meat manufacturers to use added nutrition in feed, which is anticipated to drive the global feed enzymes market.
Food safety has become a paramount issue for many governments around the world, especially in North America and Europe. Animals often stand in their own waste and are under constant duress, which affects their immune system, making them prone to infections. Asia-Pacific emerges as one of the fastest-growing markets for feed enzymes and is majorly driven by the presence of a large livestock population (FAO 2017) as well as an increasing number of feed mills. These aforementioned trends are attracting more players to enter the feed enzymes market.
Feed enzymes could prove to be suitable additional strategies to sustain gut function in and ensure their productive performance during coccidiosis infections. However, the outbreak of Covid-19 pandemic has resulted in the supply chain disruption resulting in the short supply. It has slightly affected the market for feed enzyme.
Key Market Trends
Growing Demand for Animal Protein
Dairy feed production is one of the few sectors that saw growth across all the regions, primarily due to the increasing consumer demand for dairy products, such as milk, probiotics, cheese, yogurt, and others. The European Union is one of the largest dairy markets in terms of volume consumption. Thus, dairy feed production grew by an average of 2% in the European region. The United States, China, and India are the largest producers of ruminant feed, owing to the presence of a large number of cattle and other ruminant population, and the high demand for milk and meat products. For instance, according to Alltech Feed Survey, the United States produced 19 million metric ton of compound feed for dairy cattle and 21 million metric ton for beef cattle in 2018. This makes the United States the major market for feed enzymes dedicated to dairy and beef cattle.
The increasing dairy feed production, coupled with the propelling demand for high-quality dairy products, has created a substantial demand for high-fiber enzymes, such as phytases, which will help the poultry animals have an improved digestibility for several blends of feed ingredients, such as maize/soybean meal.
Asia-Pacific is the Largest Market
The Asia-Pacific market is expected to register a high CAGR during the study period. 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. In the two major economies, China and India, there are an estimated 7,200 feed mills producing nearly 227 million metric ton of compound feed. China contributes to almost 18% of the global compound feed production. The higher demand and production of compound feed in the countries are expected to provide impetus to the feed enzymes market in the Asia-Pacific region.
As the feed and animal production industry, primarily broiler and pigs, continues to evolve at a faster pace in China, the feed mill companies are actively seeking innovations in feed enzymes that add value to the growing livestock sector of the country. For instance, in June 2016, Kemin Industries came in partnership with CRVAB Biotechnology Co. Ltd, an enzyme producer, to expand their ingredient offering particularly in feed enzymes for the country's growing livestock industry.
Competitive Landscape
The market analyses indicate that the market studied is consolidated, with major companies, such as Koninklijke DSM NV, BASF SE, Dupont de Numerous Inc., Alltech Inc., and Adisseo dominating 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.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Animal Type
5.2 Type
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted strategies
6.2 Market Share Analysis
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
Companies Mentioned
- DuPont de Nemours Inc.
- BASF SE
- Koninklijke DSM NV
- Adisseo
- Alltech Inc.
- Novus International Inc.
- Kemin Industries Inc.
- Biovet Joint Stock Company
- Bio-Cat
For more information about this report visit https://www.researchandmarkets.com/r/brmklw
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