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 Insights

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 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.

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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. '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.

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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

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