(I-BusinessNews.Com, January 09, 2020 ) The global feed enzymes market size is estimated to be valued at USD 1.2 billion in 2019 and is projected to reach USD 2.0 billion by 2025, growing at a CAGR of 9.1% during the forecast period. Enzymes are natural proteins that are naturally secreted by all livestock during the digestion process. Such endogenous enzymes produced by the livestock often do not meet suitable substrate requirements or thermostable environments to enable efficient functioning.
The feed enzymes market is driven by advancements in the animal feed industry, such as the implementation of new technologies, including new enzyme production processes, and government regulations propelling their usage. Along with this, factors such as an increase in the demand for livestock products, ban on antibiotics by the European Union (EU), and rise in awareness regarding animal health and feed quality, are driving the market for feed enzymes, globally.
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Based on type, the feed enzymes market has been segmented into phytase, protease, and carbohydrase. The carbohydrase segment is projected to be the fastest-growing segment during the forecast period, due to the high amounts of energy released by the hydrolysis of carbohydrates. Key carbohydrase enzymes include amylase and xylanase and are used to improve the digestibility of carbohydrates in feed ingredients. This improved digestibility increases the availability of energy in the small intestine to help promote growth and other production processes.
By livestock, the feed enzymes market is segmented into ruminants, swine, poultry, aquatic animals, and others. The poultry segment is projected to grow at the highest rate during the forecast period since poultry intensively consumes enzymes for better gut health and have a high feed conversion rate as compared to other livestock types. 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.
The rising per capita income is increasing the demand for diversified food materials, among which meat holds the highest priority for their diet. Therefore, the increasing demand for livestock products, as well as expenditure on animal health and wellness, creates demand for feed in emerging markets, such as the Asia Pacific, Africa, and South American regions. This has created an opportunity for feed manufacturers to enter the untapped markets. For instance, in March 2019, BASF introduced a new phytase, Natuphos E, in Indonesia, which would help release efficient phosphorus, energy, and amino acids in livestock.
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It would also promote the growth of swine and poultry. Also, the growing ban on antibiotics and growth promoters in other Asian countries, such as Korea, Vietnam, Indonesia, and Bangladesh, are creating opportunities for enzyme manufacturers to launch new products, thus driving the growth of the global feed enzymes market.
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