Animal Feed Enzymes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026
Albany, NY -- (SBWIRE) -- 05/17/2018 -- The global animal feed enzymes market is moderately consolidated with a few leading players that hold majority market share, points out Transparency Market Research (TMR) in a new report. Business collaborations and strategic partnerships are some of the key growth strategies players in this market have adopted. Prominent names in this market include Novozymes, E.l. Du Pont de Nemours and Company, Azelis Holdings SA, Rossari Biotech Ltd, Lesaffre, BASF SE, Associated British Foods plc, Novus International Inc., Alltech Inc., and Bio-Cat.
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According to estimates of the TMR report, the global animal feed enzymes market will clock a 7.8% CAGR over the forecast period between 2017 and 2026, for the market to be worth over US$2,100 mn vis-à-vis revenue by the end of 2026. By product type, phytase, carbohydrase, and proteases are the segments into which the global animal feed enzymes market is divided. The carbohydrases segment is anticipated to contribute significant revenue to the market over the forecast period. This surging demand for carbohydrases in livestock is to serve the demand for improving nutrient uptake and to improve digestion. The protease segment, on the other hand, is likely to register the leading CAGR over the forecast period. The dry form segment is anticipated to register a robust CAGR over the report's forecast period.
Quality and Safety Requirements of Meat Products by Retail Chains Stokes Demand in Developed Countries
Globally, several macro-economic and micro-economic factors account for the growth of animal feed enzymes market. The rising production of livestock such as fish, pigs, and poultry for meat products have led to an upsurge for the demand of animal feed enzymes. Developed countries such as the U.S., the U.K., Netherlands, and Australia have large supermarket chains and food stores for retail sale of meat products. The food stores and supermarket chains sell procure meat products from farmers that keep to their quality standard and are safe for consumption. Growing awareness among consumers regarding quality and safety of meat products is boosting the adoption of food supplements. Animal husbandry practices are increasingly including use of supplements that improve livestock quality while keeping their energy and metabolism rate intact.
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Prevalence of food-borne diseases is another key growth driver of the animal feed enzymes market. Zoonotic diseases such as avian flu have revved up demand for animal feed additives. For example, as per the European Food Safety Authority (EFSA) around 320,000 instances of zoonotic and food-borne diseases are registered each year in European Union countries. Further, as revealed by the EFSA, in 2012, almost 220,000 people in European Union countries were affected with zoonotic diseases such as campylobacteriosis. This has positively impacted the demand for animal feed enzymes such as amino acids, probiotics, and phytogenic nutrients to treat the condition.
Benefits of Improved Gut Health of Livestock Drives Adoption of Nanotechnology-based Products
Manufacturers of animal feed enzymes are increasingly adopting nanotechnology to develop improved products. Animal feed enzymes produced using nanotechnology boosts drug absorption and digestive health in livestock. Further, nanotechnology helps in the development of advanced drugs so that medicated feed additives such as antibiotics can be given to livestock in small quantity. These factors will further boost the animal feed enzymes market over the report's forecast period.
The review presented is based on the findings of a TMR report, titled "Animal Feed Enzymes Market (Product Type - Phytase, Carbohydrase, Proteases, Poultry, Ruminants, Swine, Aquatic, Other; Form - Liquid, Dry) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026."
The global animal feed enzymes market is segmented as follows:
Global Animal Feed Enzymes Market, by Product
Global Animal Feed Enzymes Market, by Form