Feed Enzymes Market Overview
Feed Enzymes Market size is estimated to reach $1,900.5 million by 2026, growing at a CAGR of 8.1% over 2021-2026
. Enzymes are considered as naturally occurring catalysts that are derived from animals during their digestion process and helps to speed up specific chemical reactions. Feed Enzymes enhances the nutritional value of ingredients that are used to feed animals. Enzymes are used for animal feed in a large quantity for various reasons such as improving access to nutrients, reduce antinutritional factor of ingredients and many more which becomes a healthy food for animals. There are variety of enzymes that provides visible action on feed digestibility such as carbohydrase
, protease, phytase and many more that are helpful to increase the nutritional value such as vitamins, minerals etc. on animal feed additives. With the help of enzymes, the pollution on the environment decreases and also boost the profitability of livestock farmers. Enzymes help to produce more meat per animal that increases the production and reduces the cost. Rising concern regarding the health of animal and increasing consumption of animal based food products is the major factor driving the growth of Feed Enzymes Market. Furthermore, rising growth in food and beverage industry and growing advancement in technology is set to further enhance the overall market demand for Feed Enzymes Market for the period 2021-2026.
The report: “Feed Enzymes Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Feed Enzymes Market.
By Type: Carbohydrase, Protease, Phytase, and Others.
By Form: Dry, and Liquid.
By Animal Type: Ruminant, Poultry, Swine, Aquaculture, and Others.
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa).
Feed Enzymes Market Size, By Form 2020-2026 (USD Million)
Feed Enzymes Segment Analysis – By Type
The Feed Enzymes Market based on Type can be further segmented into Carbohydrase, Protease, Phytase, and Others. The Carbohydrase segment is the major segment generating revenue in 2020. This is mainly owing to carbohydrate which helps to degrade carbohydrate such as fibre, starch, etc offering a large amount of energy in animal feed which increases the use of carbohydrase in animal feed industry. Moreover, carbohydrase helps to improve the digestive process of all animals which increases the adoption and thus driving the market growth. The Phytase segment is estimated to register the fastest CAGR of 9.1% for the period 2021-2026. This is mainly owing to its various advantages such as low PH, improve health in body, gain healthy weight and many more. Moreover, phytase is inexpensive that rising the use in the animal feed industry which in turn boosting the growth of Feed Enzymes Market.
Feed Enzymes Segment Analysis – By Form
The Feed Enzymes Market based on Form can be further segmented into Dry, and Liquid. The Dry segment registers for the highest Feed Enzymes Market share in 2020. This is mainly owing to its easy handling property that can easily mixed in the animal feed and is consumed by animals in a large quantity. Moreover, dry enzymes provides good thermal stability that advanced the activity of enzymes which rising the adoption in animal feed industry and thus propelling the market growth. The Liquid segment is forecasted to register the fastest CAGR of 10.2% over 2021-2026. This is mainly owing to the fact that liquid enzymes destroys odor that helps animals to consume easily which increases the adoption of liquid enzymes in animal feed and are thus propelling the growth of Feed Enzymes Market.
Feed Enzymes Segment Analysis – By Geography
North America dominated the Feed Enzymes Market with major share of 45% in 2020. This is owing to rising development in the field of technology and growing develoments in animal feed industry. Moreover, the demand of consuming meat based snacks increases the further rising the growth of Feed Enzymes Market. So, owing to rising consumption of meat snacks, manufacturers are producing variety of meat snack food that rising the use of feed enzymes and thus driving the market growth.
However, Asia Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to rising developments in animal feed industy. In china and India, the consumption of meat increases the boosting the use of animal feed ingredients which in turn enhancing the market growth.
Feed Enzymes Market Drivers
Rising Concerns Regarding the Health of Animal
Rising number of diseases in animal increases the awareness regarding the health of animal which increases the use of feed enzymes among animals and thus driving the market growth. Recently, owing to increasing animal diseases, negative effect in environment increasing. As, animals are not able to get proper feed that decreases the amount of nutritional value among animals and causes various diseases. In order to reduce the negative effects, the adoption of feed enzymes in animal feed industry increases that helps animals to fulfill their proper nutritional value and therefore rising the growth of the Feed Enzymes Market over the period 2021-2026.
Increasing Consumption of Animal Based Food Products
Rising demand of protein among health consciousness people increasing the sales of meat product which increases the use of feed enzymes in animal and further driving the market growth. Recently, the demand for meat snacks are increasing, rising the production of meat products and increase in the use of feed enzymes in animal feed industry in order to expand the nutritional value in animal. This enables the consumers to receive proper nutritional value in their diet which further boost the growth of Feed Enzymes Market over the period 2021-2026.
COVID-19 pandemic had greatly impacted the growth of Feed Enzymes Market. During pandemic, there is a lockdown that created a disruption in the manufacturing industries. Owing to lockdown, feeding to animals are able to provide properly which created a huge loss. Moreover, production capacity also decreases among manufacturers and are negatively impacted the growth of Feed Enzymes Market.
Feed Enzymes Market Challenges
High Cost Associated With Feed Enzymes
The factors that are set to impede the growth of the Feed Enzymes Market are rising cost of raw materials of enzymes which increases the cost of feed enzymes that is set to restrain the growth of Feed Enzymes Market.
Feed Enzymes Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Feed Enzymes Market. Feed Enzymes top 10 companies are BASF SE, Dupont, ADM, Cargill Incorporated, Bluestar Adisseo, Novozymes, Novus Inc., Kemin, Associated British Foods, and Advanced Enzyme Technologies.
- In September 2019, Dupont launched Axtra, Phytase enzyme that helps to enhance the performance of animal which increases the adoption of this product in animal feed industry and are driving the growth of Feed Enzyme Market.
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