The global animal feed enzymes market size is expected to reach USD 1.88 billion by 2026 and is estimated to grow at a CAGR of 7.3 % from 2018 to 2026. The market is anticipated to grow significantly over the forecast period owing to factors such as rising cost of feedstock, increasing meat consumption and rising pressure to increase the overall animal yield.
The market is also anticipated to grow due to the rising awareness regarding the benefits of animal feed enzymes particularly in emerging regions such as Asia Pacific.
These additives result in the maintenance of proper overall health of animals. They result in the improvement of digestion of essential nutrients such as proteins as well as increase in the availability of amino acids. They also offset the negative effects of undigested nutrients in the gut health. Such trends are benefitting the overall market growth.
There has been a rapid growth in the overall world population thus putting strain on the available food resources. This has put pressure on the animal husbandry participants to maximize output while reducing the usage of resources. Enzymes aid in these efforts as they help in proper absorption as well as digestion of nutrients.
Grains which are normally utilized in the production of animal feed such as barley, corn and wheat have hard coating which does not completely break even during the milling process. The coating is indigestible. However, these additives result in the degradation of these cover molecules thus aiding the overall digestive process of animals as well as the proper maintenance of gut health.
Meat is considered as an essential part of the diet as it incorporates many valuable nutrients that are highly beneficial for health. Meat and meat products contain protein, micronutrients, and minerals that are beneficial for growth and development. Moreover, meat processing offers improved food safety, reduced price, and extended shelf life. Rising demand of meat across the globe is expected to favorably benefit the market growth.
Asia Pacific is the most lucrative regional market, where the latest demand has been supported by rising demand of the developing countries, primarily of Southeast Asian region and Indian Subcontinent. China, Japan, Western Europe, and the United States are some of the countries contributing significantly for the industry growth.
Growing population coupled with rising incomes has increased the demand for meat. However, at the same time, it has left limited space for livestock expansion. There should be an optimal usage of existing food resources. Usage of animal feed enzymes results in a rise in immunity of the livestock thus reducing the death caused due to the various diseases.
Companies are concentrating on the developing regions such as Asia Pacific to gain maximum share in the animal feed enzymes market. BASF and Biomin announced the launching of a new phytase product for the Vietnamese feed industry. Some of the major market players for Animal Feed Enzymes include Chr. Hansen Inc, BASF Corporation, Bio Vet JSC, DuPont, Enmex SA De CV, Adisseo France, Alltech, Novozymes, AB Enzymes GmbH, Advanced Enzymes Technologies Limited, and Lesaffre Group.
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