(I-BusinessNews.Com, June 23, 2020 ) The 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″ The global feed enzymes market size is projected to reach USD 2.0 billion by 2025, which was estimated at USD 1.2 billion in 2019; it is projected to grow at a CAGR of 9.1% from 2019. 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.
The microorganism segment, by source, is projected to dominate the feed enzymes market during the forecast period.
The microorganism segment dominated the feed enzymes market in 2019, owing to the higher use of these sources to extract feed enzymes. Microorganisms remain highly prominent and suitable hosts to produce stable and industrially important feed enzymes. Enzymes extracted from microorganisms are of great importance in the manufacturing of animal feed. Currently, molecular techniques, such as metagenomics and genomics, are used to discover microbial enzymes, which are used in the feed industry to improve feed quality.
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Based on livestock, the poultry segment is projected to witness the highest growth in the feed enzymes market in terms of value.
According to OECD-FAO Agricultural Outlook 2017–26, the global poultry meat production stood at 118.1 MMT (130.18 MT) in 2017 and is expected to increase by about 11% over the next decade. The production of poultry for meat is also likely to be dominating more than half the growth of all the additional meat produced by 2025. Such rapid growth in poultry meat production is expected to increase the demand for superior quality feed further, thereby propelling the market for feed enzymes.
The key players in the feed enzymes market include BASF SE (Germany), DowDuPont (US), Koninklijke DSM N.V (Netherlands), and Bluestar Adisseo (China).
BASF SE is one of the leading players in the feed enzymes market. It develops and produces feed enzymes—under its performance products segment—for poultry, ruminants, swine, aquaculture, and companion animals. It has operations in more than 90 countries and operates through its subsidiaries. The company operates across four regions, i.e., North America; Europe; Asia Pacific; and South America, Africa, & the Middle East. It has more than 100 production and research and development sites across North America. The major products of BASF SE include Natugrain TS, Natuphos, and Natuphos E.
Koninklijke DSM N. V’s businesses are grouped into three clusters, namely, nutrition, materials, and innovation center. The nutrition segment comprises DSM Nutritional Products (Animal Nutrition & Health, Human Nutrition & Health, Personal Care & Aroma Ingredients, and Pharma Solutions), DSM Food Specialties, and DSM Hydrocolloids. The company provides feed enzyme products under the animal nutrition and health segments to poultry, swine, aquaculture, ruminants, and others. It has also entered into an alliance with Novozymes A/S (Denmark) to help expand its presence in the feed enzymes market. It is present in 68 countries across five continents. In 2019, DSM launched Balancius at the 22nd European Symposium under its poultry nutrition (ESPN 2019) segment to strengthen its product portfolio in Europe.
Asia Pacific is projected to witness the highest growth in the feed enzymes market during the forecast period.
In terms of value, the Asia Pacific feed enzymes market is projected to grow at the highest CAGR during the forecast period. Factors such as the presence of a large livestock population (FAO 2016) and their growth rate, the increase in the number of feed mills in the region, which further reflects the growth in feed production, particularly in countries, such as, India and Japan, are projected to drive market growth in the coming years.
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Key Market Players
Many domestic and global players provide feed enzymes to improve animal health and performance. Major manufacturers have their presence in the European and Asian countries. The key companies in the feed enzymes market are Cargill, Incorporated (US), BASF SE (Germany), DowDuPont (US), Bluestar Adisseo Co., Ltd. (China), and Koninklijke DSM NV (Netherlands). Various strategies, such as expansions, mergers & acquisitions, and new product launches, were adopted by the key companies to remain competitive in the feed enzymes market.
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