The Feed Enzyme Market is Expected to Witness a CAGR of 7.3% to Reach $1.51 Billion by 2023
Bangalore, India, June 13, 2018 (Newswire.com) - With its recently published study “Feed Enzyme Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023”, Infoholic Research forecasts that the global market for feed enzyme will continue to grow in the Asia Pacific region owing to increasing spending power and rise in per capita consumption of animal products. Feed enzymes are the exogenous enzymes that are fed to the livestock for improving animal health and nutrition. The feed cost accounts for more than 60% of total expense in livestock . Feed enzymes help in cost reduction by optimizing digestion and nutritional loss in animals.
Feed enzymes find major usage in the poultry, ruminants, swine, and aquatic livestock, due to its unique ability to digest high fiber contents in the feed content material. The increased usage of feed enzymes like phytase and cabohydrase for high performance solutions in the poultry and ruminant industry will steer the market growth in developing countries. This trend is expected to continue during the forecast period 2017–2023, fueling the feed enzyme market growth at a CAGR of 7.3% to reach $1.51 billion by 2023.
Feed Enzymes help in preventing nutritional loss from animal's body. These enzymes are mainly used to reduce initial feed cost. Feed enzymes have become increasingly popular in consumer livestock industry. But, high cost and storage of the enzyme effectively are few factors restricting its growth. The growth factor in Europe and other developed nations is moving towards saturation, but its potential is yet to be explored in developing as well as underdeveloped nations. Latin America, Middle East and African market is highly import driven, resulting in additional cost of feed enzyme products
Satya Shiwani, Senior Research Analyst, Infoholic Research
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Europe dominates the feed enzyme market, followed by Asia Pacific and North America. The large population base and increasing awareness for nutrition coupled with improved economic conditions are the key contributors that will make Asia-Pacific experience a robust growth during forecast period. The dominance of Europe will continue during the forecast period, while underdeveloped countries are expected to witness a higher penetration rate, thereby boosting the feed enzyme market revenues.
The phytase enzyme segment has a significant market share by value in the feed enzyme market. The next significant share of the feed enzyme market is held by carbohydrase, owing to its high-performance in digesting fiber content.
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“Feed Enzymes help in preventing nutritional loss from the animal’s body. These enzymes are mainly used to reduce the initial feed cost. Feed enzymes have become increasingly popular in the consumer livestock industry. But, the high cost and storage of the enzyme effectively are few factors restricting its growth. The growth factor in Europe and other developed nations is moving towards saturation, but its potential is yet to be explored in the developing as well as underdeveloped nations. The Latin America, Middle East and African market is highly import driven, resulting in additional cost of feed enzyme products,” – Satya Shiwani, Senior Research Analyst, Infoholic Research.
Key insights of the report include:
- Aquatic Animals
- Industry outlook: Market trends, drivers, restraints, and opportunities
About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com
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Source: Infoholic Research LLP