What is the global market size of Feed Enzymes Market?

Feed Enzymes Market size was valued at USD 1.41 billion in 2021 and is poised to grow from USD 1.51 billion in 2022 to USD 2.88 billion by 2030, growing at a CAGR of 7.4% in the forecast period (2023-2030).

Feed Enzymes Market Size, Share, Growth Analysis, By Type(Phytase, Carbohydrase, Protease), By Application(Poultry, Swine, Ruminants, Aquatic Animals), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15E2407 | Region: Global | Published Date: April, 2024
Pages: 242 | Tables: 64 | Figures: 75

Feed Enzymes Market News

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.
In July 2021, DuPont de Nemours, Inc. initiated an expansion of the leading innovative phytase enzyme in the business, Axtra® PHY GOLD, in the countries of Malaysia, Thailand, and Australia respectively. The first version of Axtra® PHY GOLD was introduced to the market in India in the year 2020.
In November 2021, ProAct 360 is a second-generation protease from DSM and Novozymes. ProAct 360's innovative protease technology improves feed efficiency, affordability, and sustainability. This unique feed formulation improves growth performance, amino acid matrix levels, and action.

Feed Enzymes Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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).

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. 'Novozymes A/S', 'DSM N.V.', 'BASF SE', 'DuPont de Nemours, Inc.', 'AB Enzymes GmbH', 'Adisseo France SAS', 'Advanced Enzyme Technologies Limited', 'Aum Enzymes', 'Chr. Hansen Holding A/S', 'Kerry Group plc', 'Danisco A/S', 'BioResource International, Inc.', 'Biovet JSC', 'Jiangsu Boli Bioproducts Co. Ltd.', 'Koninklijke DSM N.V.', 'Lesaffre Group', 'Longda Bio-Products Co., Ltd.', 'Maps Enzymes Ltd.', 'Shenzhen Leveking Bio-Engineering Co., Ltd.', 'Sunson Industry Group Co., Ltd.'

Feed production accounts for the maximum or more than half of the animal production costs. Every livestock farmer aims to reduce feed expenses per animal. The nutritional value of feed affects its digestibility. The feed can account for 90% of enzyme response variance. Improved digestibility reduces nutrient density and production costs. Feed enzymes sustain animal performance while reducing feed costs by reducing the indigestible food component which will drive the feed enzymes market during the analysis period.

Some fungi have been shown, through preliminary research, to be able to thrive in POME (palm oil mill effluent) and to have the ability to manufacture phytase enzymes. This information has been obtained. The use of feed items containing phytase enzymes in monogastric and digastric livestock may improve the efficiency of nutrient intake as well as the resistance of animals to disease assaults. One sort of waste that has not been utilized to a significant degree in the manufacturing of enzymes is known as palm oil mill effluent (POME). Some of the fungi that can be found growing on POME have shown evidence of their ability to produce phytase. This will help further to develop various new sources for enzymes and will propel the growth of the feed enzyme market during the analysis period.

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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Feed Enzymes Market Size, Share, Growth Analysis, By Type(Phytase, Carbohydrase, Protease), By Application(Poultry, Swine, Ruminants, Aquatic Animals), By Region - Industry Forecast 2024-2031

Feed Enzymes Market News

Feed Enzymes Market Report Snapshots

Want to customize this report?

FAQs

What is the market size of Feed Enzymes Market?

Who are the key vendors in the Feed Enzymes Market?

What is the key driver of Feed Enzymes Market?

What is the key market trend for Feed Enzymes Market?

Which region accounted for the largest share in Feed Enzymes Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300