Animal Feed Enzymes Market Size, Share, Growth Analysis, By Source(Microorganisms, Plants, and Animals), By Livestock(Poultry, Swine, Ruminants, Aquaculture), By Type(Carbohydrase, Phytase, Protease, and Others), By Region - Industry Forecast 2024-2031

Animal Feed Enzymes Market size was valued at USD 1.77 billion in 2021 and is poised to grow from USD 2.7 billion in 2022 to USD 9.36 billion by 2030, growing at a CAGR of 19.50% in the forecast period (2023-2030).

The global market growth is driven by rising awareness about animal health and increasing demand for sustainable feed solutions. The increasing focus on animal nutrition and the growing need for cost-effective feed solutions can drive the market. The report highlights that the increasing demand for livestock products in developing countries, coupled with the need for sustainable and eco-friendly feed solutions, is creating opportunities for growth in the animal feed enzymes market. Furthermore, the use of animal feed enzymes is also being driven by regulatory initiatives to reduce the use of antibiotics in animal feed, as enzymes can help improve the gut health of animals and reduce the need for antibiotics.

According to the World Health Organization (WHO), the use of animal feed enzymes has increased in recent years, driven by the growing demand for meat products and the need for sustainable feed solutions. WHO reports that the global animal feed enzymes market is projected to grow at a CAGR of 7.5% from 2021 to 2026. The report highlights that the use of enzymes in animal feed can improve the nutritional value of feed, enhance animal health, and reduce the need for antibiotics. The report also notes that the increasing demand for eco-friendly feed solutions is expected to drive the growth of the animal feed enzymes market in the coming years.

Based on SkyQuest analysis, we found that, North America is the largest regional market for animal feed enzymes, accounting for over 40% of the global market share in 2023. China is one of the largest markets for animal feed enzymes, driven by the large population and growing demand for meat and dairy products and the animal feed enzyme market in China is expected to grow at a CAGR of 9.5% during the forecast period.

US Animal Feed Enzymes Market is poised to grow at a sustainable CAGR for the next forecast year.