Animal Feed Enzymes Market to Hit $2.3 Billion by 2026: Global Market Insights, Inc.
SELBYVILLE, Del., November 19, 2019 (Newswire.com) - Global Animal Feed Enzymes Market revenue is expected to surpass USD 2.3 billion by 2026, according to a new research report by Global Market Insights, Inc. Rising concerns towards disease outbreak in poultry animals and growing regulations to promote livestock safety are increasing the adoption of animal feed enzymes.
Consumers prefer high-quality feed grades to provide balanced nutrition to animals, owing to rising health disorders and concern towards animal wellbeing. Governments across the globe are supporting advancements in feed manufacturing to meet the effective animal health requirements and, thereby, contributing towards business development.
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Acceptance of feed enzyme technology to increase the nutritional value of feed ingredients and reduce feed costs is expected to drive the animal feed enzymes industry's growth. Protease is widely used in animal nutrition, owing to its high heat stability and ability to protect the environment by reducing nitrogen excretion from animal husbandry. These enzymes break protein molecules into essential amino acids that are required by animals, thus favoring the animal feed enzymes industry.
Some key findings of the animal feed enzymes market report include:
- Feed enzyme additives provide a suitable substitute and are replacing traditional animal feed, as they offer high nutritional value and comply with safety standards.
- The demand for protease enzymes is increasing across the globe, owing to their superior benefits, such as protein digestibility and improvement in gut health.
- Stringent government regulations towards the usage of feed additives in the U.S. and Europe to conserve animal and individual health is likely to strengthen animal feed enzymes market growth.
- Increasing consumption of meat & poultry products, along with animal protein & dairy products in China and South Korea, is expected to offer lucrative opportunities for market expansion.
- Manufacturers are utilizing effective fermentation processes, such as solid surface fermentation and bio-catalysis, to offer thermally stable dry feed enzyme formulations.
- Some of the major participants operating in the animal feed enzyme market are DSM, BASF, Danisco and Novoenzymes.
The rise in incidents of disease prevalence have resulted in increased regulations of additives to use in animal nutrition, which shall hinder business growth. Various government norms require feed enzymes to be certified safe before they can be used for livestock. In addition, concerns towards the health and safety of animals are influencing the final product cost for manufacturers, which is expected to limit business expansion.
Browse key industry insights spread across 320 pages with 462 market data tables and 13 figures and charts from the report, “Animal Feed Enzymes Market By Form (Dry, Liquid), By Product (Phytase, Carbohydrase, Protease, Non-Starch Polysaccharide), By Livestock (Poultry, Swine, Aquaculture, Ruminant), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026,” in detail, along with the table of contents:
The animal feed enzymes market is expected to witness significant demand for poultry livestock due to changing consumer food habits and a rising preference for a non-vegetarian diet. The demand for high-quality meat and milk products in North America has strengthened the need for efficient feed additives as substitutes for synthetic feed antibiotics. The animal feed additives market in the U.S. was valued over USD $6.5 billion in 2018.
Manufacturers globally are focusing on the usage of safe additives in animal nutrition to safeguard public health. For instance, Enzyme Innovation, a U.S.-based bioscience company, launched DigeGrain Delta multi enzymes blend to reduce the use of antibiotic growth promoters. The product enhances the absorption of nutrients and improves the performance of swine and poultry animals.
Companies are focusing on research and development activities to promote technological innovations and improve the quality of livestock feed. Manufacturers are involved in the implementation of new methods to enhance the efficiency and performance of animal feed additives.
Major players are expanding their market presence by acquiring small scale enzyme manufacturing units to withstand the growing competition. Key manufacturers are making huge investments to enter emerging markets such as in Brazil and Saudi Arabia.
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Animal Feed Additives Market Outlook 2024: The pigment animal feed additives industry should gain about 4.5% during the projected timeframe. Its ability to improve palatability and appeal to improve feed efficacy should drive the industry's size. The growing industrialization of pork, aquaculture and poultry business on a global scale should drive product demand. Global market share is moderately fragmented, with market players including Novus International, DSM, Kaesler Nutrition, Kemin, Cargill and ADM.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.