USD 1.41 billion
Report ID:
SQMIG15E2407 |
Region:
Global |
Published Date: April, 2024
Pages:
242
|Tables:
64
|Figures:
75
Feed Enzymes Market size was valued at USD 1.51 Billion in 2023 and is poised to grow from USD 1.62 Billion in 2024 to USD 3.09 Billion by 2032, growing at a CAGR of 7.4% during the forecast period (2025-2032).
The global market for feed enzymes is expanding at a speedy rate, and it is expected that it will continue to expand at a rapid pace during the analysis period. The considerable expansion of the global feed enzymes market is being driven in large part by the expanding demand for food products that are derived from animals, the growing concern for the well-being of animals, and the rising demand for feed that allows for greater nutrient absorption.
Feed enzymes are used to enhance the quality of animal nutrition as well as improve the nutritional properties of animal fodder. Enzymes are natural proteins secreted by animals as a part of the feed digestion process. Feed enzymes improve the feed performance when added, as they offer additional nutrients such as minerals and vitamins to the animal feed.
US Feed Enzymes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.41 billion
Largest Segment
Carbohydrase
Fastest Growth
Carbohydrase
Growth Rate
7.4% CAGR
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The global feed enzymes market is segmented based on type, application, and region. Based on type, the market is segmented into Phytase, Carbohydrase, and Protease. Based on application, the market is segmented into Poultry, Swine, Ruminants, and Aquatic Animals. Based on region, the global Feed Enzymes market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Enzymes Market Analysis by Type
In 2021, the Carbohydrase segment accounted for the largest share in the global feed enzymes market and is expected to post tremendous growth during the analysis period. This is due to most animal feed manufacturers and farmers using carbohydrase as an enzyme. This segment is expected to expand the fastest during the projection period. Carbohydrase in feed, benefit livestock. Carbohydrase helps monogastric animals digest more starch and also increases feed ingredient energy.
Feed Enzymes Market Analysis by Application
In recent years, feed production for the pig, broiler, and dairy industries has seen large and healthy growth, driven by the industrialization of the livestock sector. According to the Alltech feed survey, the feed sector has grown 13% in the past years. This has increased the demand for high-quality enzymes from broiler, dairy, and pig feed manufacturers. Favorable government rules promote the growing feed output, which creates a need for substances that can be added to animal feed to improve animal-sourced products. In Russia and China, where government regulations support internal pig feed production and import displacement, demand for feed enzymes like proteases has increased in recent years. Novozymes and DSM BASF SE use commercial feed enzymes in chicken diets to increase performance, feed utilization, and environmental contamination by reducing manure nutrients. These factors may boost the feed enzymes market throughout the forecast period.
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The Asia Pacific is predicted to account for the highest market share in the year 2021. This is because China and India are the most highly populated country in the region and 7200 feed mills in China and India produce 227 million metric tons of compound feed. The output increased from 433.610 million metric tons to 458.121 million metric tons between 2020 and 2021, the highest CAGR of all regions. Higher compound feed consumption and production will boost the region’s feed enzymes market during the analysis period.
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Feed Enzymes Market Driver
Feed Enzymes Market Restraint
The struggle in the hydrolysis of cellulose and the developed inclusion rates of enzymes might have harmful effects which are further projected to hinder the growth of the market .
The quality production of enzymes requires a high level of R&D investments for development . The various molecular techniques such as metagenomics and genomics require high level infrastructural lab facilities. Therefore, initial heavy investment can impede the expansion of market.
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The feed enzymes market is relatively fragmented, with a high level of competition. Few large players, like Novozymes A/S, Kemin Industries Inc, and Cargill Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Feed Enzymes Market Top Player’s Company Profiles
Feed Enzymes Market Recent Developments
In December 2022, Danish food ingredients and enzymes makers Novozymes (NZYMb.CO) and Chr. Hansen (CHRH.CO) have agreed to merge, the two companies said in a joint statement .
In 1 February 2022, BASF SE, which is a German chemicals company completed an expansion of its feed enzymes production facility in Ludwigshafen, Germany, enabling it to increase the number of fermentations run at the site every year.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Carbohydrase segment accounted for the largest share in the global feed enzymes market and is expected to post tremendous growth during the analysis period. This is due to most animal feed manufacturers and farmers using carbohydrase as an enzyme. Favorable government rules promote the growing feed output, which creates a need for substances that can be added to animal feed to improve animal-sourced products. The Asia Pacific is predicted to account for the highest market share in 2021.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.41 billion |
Market size value in 2031 | USD 2.88 billion |
Growth Rate | 7.4% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Feed Enzymes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Feed Enzymes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Feed Enzymes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Feed Enzymes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Feed Enzymes Market size was valued at USD 1.41 billion in 2019 and is poised to grow from USD 1.51 billion in 2023 to USD 2.88 billion by 2031, growing at a CAGR of 7.4% in the forecast period (2024-2031).
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Report ID: SQMIG15E2407
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