CHICAGO, June 30, 2020 /PRNewswire/ -- According to the new market research report "Feed Enzymes Market by Type (Phytase, Carbohydrase, and Protease), Livestock (Poultry, Swine, Ruminants, and Aquatic Animals), Source (Microorganism, Plant, and Animal), Form (Dry and Liquid), and Region – Global Forecast to 2025", published by MarketsandMarkets™, the Feed Enzymes Market size is projected to reach USD 1.9 billion by 2025, which was estimated at USD 1.3 billion in 2020; it is expected to grow at a CAGR of 8.1% from 2020. One of the major factors driving the feed enzyme industry is the provision of cost-efficiency in the use of feed. Also, the increasing demand for animal-based products, such as meat products, dairy products, and eggs, and the rise in the global demand for naturally produced feed additives have been driving the growth of this market.
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The feed enzymes market includes major Tier I and II suppliers like BASF SE, DowDu Pont, Koninklijke DSM N.V, Bluestar Adisseo, and Kemin Industries. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. Though COVID-19 has impacted their businesses as well, there is no significant impact on the global operations and supply chain of their feed enzymes. Multiple manufacturing facilities of players are still in operation. The international trade barriers, closure of restaurants, hotels, and live animal markets, supply chain hindrances, consumption patterns of livestock-based products were considered to be mildly significant, which has disrupted the market for feed enzymes. However, the demand for feed enzymes in the livestock industry is likely to increase in the first and second quarters of the year 2020 as many farmers resorted to panic buying of feed additives in anticipation of potential shortages.
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The phytase segment, by type, is projected to dominate the feed enzymes market during the forecast period.
Phytases are digestive enzymes that release plant phosphorus from phytic acid; monogastric animals, such as poultry birds, lack sufficient phytases to release this phosphorus. Adding extra phytases to the diet increases phytate breakdown and consequent utilization of plant phosphorus. According to DuPont, one of the major feed enzyme manufacturers, phytases are the most widely used type of feed enzymes in the world, included in 90% of poultry and 70% of swine diets. This segment accounted for the highest share in 2020 at a global level. Thus, increasing phytic acid degradation and the need to improve the availability of plant phosphorus could offer major benefits for poultry and swine producers, including lower levels of inorganic phosphorus inclusion in diets, reduced feed costs, and better sustainability of animal production.
The poultry segment, by livestock, is projected to witness the highest growth in the market
The poultry segment is projected to grow at the highest rate during the forecast period since there is intensive usage of feed enzymes in the broiler feed, which influences high tender meat production. Poultry does not produce enzymes for hydrolysis of non-starch polysaccharide present in the cell wall of grains, and they remain un-hydrolyzed. This results in low feed efficiency. Feed enzymes break down the NSPs, decrease intestinal viscosity, and eventually improve the digestibility of nutrients by improving gut performance. Poultry in the Asia Pacific region is also witnessing an ever-increasing demand, as consumers are adding white meat instead of red meat to their diets. Additionally, poultry population growth, which has doubled in the last two decades, according to the Food and Agriculture Organization of the United Nations (FAO), is supporting the high growth rate of the poultry segment.
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Asia Pacific is estimated to be the largest and fastest-growing market.
Asia Pacific dominated the global feed enzymes market in 2019; this has been supported by the presence of a large livestock population (FAO 2016) and the growth rate. Also, livestock producers in China and India are focusing on animal health by resorting to natural solutions.
Additionally, there has been a rise in the demand for meat and meat products, in accordance with the need for a protein-rich meat diet. The market for poultry is estimated to increase in India and China due to factors such as the focus on meat quality and public health campaigns, which encourage the consumption of lower-fat protein options. Fish consumption is also increasing in the region owing to similar health trends. On the other hand, there has been an increase in production as well as consumption of dairy products in the region. These factors are expected to drive the feed enzymes market in the Asia Pacific region.
The major vendors in the global feed enzyme market are BASF SE (Germany), DowDu Pont (US), Koninklijke DSM N.V (Netherlands), Bluestar Adisseo (China), and Kemin Industries (US).
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