Feed Enzymes Industry – Key Drivers, Challenges, Competitive Analysis, and Trends
The MRFR report suggests that the
global feed enzymes industry is projected o grow substantially over the
forecasted era from 2022 to 2030.
Feed enzymes are used to improve the
quality of animal nutrition and improve the nutritional properties of animal
fodder. Enzymes refer to natural proteins produced by animals as a component of
the feed digestion process. The global feed enzymes market has witnessed
enormous growth in the past few years. The market's growth is being driven by
the changing lifestyle and consumers' preferences towards a healthy diet across
the globe. Furthermore, the factors such as increasing meat consumption,
growing health concerns, increasing awareness, increasing population in
developing countries, and rising consumption of poultry and meat products are
also estimated to boost the market's growth over the assessment era.
At what CAGR is the global feed
enzymes market projected to grow in the forecast period (2022-2030)?
Feed enzymes market is projected to
grow at approximately 5.78% CAGR during the assessment period (2021-2030).
Segment Analysis
The global market for feed enzymes has
been fragmented into numerous segments based on livestock, type, form, and
region.
The global feed enzymes market is
split into phytase, protease, and others based on type.
By livestock, the global market for
feed enzymes is divided into aquatic animals, ruminants, poultry, swine, and
others.
The global feed enzymes market is
fragmented into liquid, dry, and others based on form.
Regional Analysis
The feed
enzymes industry is analyzed across five major regions: Asia-Pacific,
Europe, North America, South America, and the Middle East & Africa.
As per the MRFR report, the global
feed enzymes market is estimated to be led by the North American region over
the forecasted era. The increasing demand for nutritional protein-based feed
products across developed countries such as Canada and the U.S. is the primary
aspect causing an upsurge in the regional market. Moreover, the growing demand
for poultry products across the region is also likely to boost the growth of
the regional feed enzymes market over the coming years. The major market
leaders across the region are making heavy investments in research &
developments to launch the latest and innovative products across the market.
The Asia-Pacific region is anticipated
to record substantial growth over the assessment era. The regional market's
growth is attributed to the growing per capita income and growing awareness
among consumers across the region.
Competitive Analysis
The global feed enzymes market has a
strong and competitive landscape. The players in the global market are focusing
on the expansion of their global market reach by implementing several growth
strategies such as mergers, acquisitions, and partnerships. The list of leading
players in the global feed enzymes market includes Alltech, Inc. (U.S.),
Rossari Biotech Ltd. (India), Azelis Holding S.A. (Belgium), Behn Meyer Holding
AG (Germany), Associated British Foods plc (U.K), BASF SE (Germany), Novus
International, Inc. (U.S.), Adisseo France SAS (France), Koninklijke DSM N.V.
(the Netherlands), E. I. du Pont de Nemours and Company (U.S.), and several
others.
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Recent Developments
·
February 2022 - BASF, a German
chemicals firm, announced the completion of an expansion of its feed enzymes
production facility in Ludwigshafen, Germany, allowing the firm to raise the
number of fermentation runs at the site everyday year. The vice president of global
business management, Michael De Marco, said that with the expansion BASF focuses
on the needs of the company's customers through investments and product innovation.
He further added that This emphasizes the firm's commitment to fulfilling the
growing demand of the company's customers around the globe.
·
November 2021- Archer Daniels Midland (ADM)
has announced its plans to buy a provider of probiotic, prebiotic, and
enzyme technology, Deerland Probiotics and & Enzymes. The terms of the deal
are not disclosed yet; that is a matter of regulatory approval but projected to
finish within the coming weeks.
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