A report published by Future Market Insights titled “Feed Enzymes Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027),” states that feed enzymes have the capability to withstand extreme acidic pH conditions and pelleting temperatures at the time of feed processing. Moreover, these catalytic ingredients decrease the viscidness of non-starch polysaccharides that is present in the animal fodder and thus increases the digestion capacity of the livestock. The demand for these products is considered to be driven mainly by their rising consumption in pig fodder and poultry sectors. At present, the trend of on-going clean label regarding ingredients and condiments incorporated at the time if processing the animal feed within the country is anticipated to provide a nudge to the demand for feed enzymes in the years ahead.
The global feed enzymes market is likely to exhibit a 4.9% CAGR from 2017 to 2027. Rising from a valuation of over US$ 837.0 Mn in 2016, the market is expected to touch approximately US$ 1,406 Mn by the end of 2027.
Economical Nature of Feed Enzymes to Create a Favorable Market Scenario
Animal feed is one product that incurs high costs in the poultry and livestock industries and accounts for nearly 70% of the total production cost. In order to cut the incurring costs, most of the manufacturers supplement feed additives with enzymes which enables them to produce more meat per animal or produce the same amount of meat inexpensively. The fear of food-borne and zoonotic diseases such as various types of avian flu is anticipated to auger the demand for feed enzymes over the forecast period. The Asia Pacific and Middle East regions are particularly expected to witness rising demand for enzymes over the forecast period, due to frequent viral disease outbreaks in these regions.
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Feed is of utmost importance with respect to cost in the dairy industry. As a result, any increase in the efficiency of converting feed into milk will improve the returns for dairy farmers. The use of feed enzymes to upsurge the uptake of nutrients in feed has traditionally shifted the focus of manufacturers on poultry and swine. Ruminants have a four-chambered stomach, or rumen, and so, a different enzymatic solution is required in their case. Owing to this factor, major players in the industry like DSM, have come up with a specific type of enzymatic technology that triggers the rate of corn starch degradation in a cow’s stomach. As a result, a greater proportion of the nutrients in the feed is converted into bacterial protein and energy. As a result, these kinds of products increase the utilization of starch in ruminant diets, leading to enhanced milk production in dairy cows.
Global Feed Enzymes Market: Segmental Snapshot
With North America take the technological advantages and being on the forefront in terms of adopting a new product or technology, it is expected to maintain a leading position in the market by the end of the forecast period. However, in terms of rate of growth, MEA is expected to take the lead and witness a substantial CAGR over the course of the forecast period. North America is likely to touch a valuation of over US$ 373 Mn by 2027. On the basis of form, dry feed enzymes are likely to stay the most preferred choice among the consumers over the course of the forecast period.
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Other than these, on the basis of distribution channel, carbohydrates it expected to take the lead by the end of 2027. In terms of animal type, poultry is expected to retain a core portion of the market closely followed by ruminants and swine by the end of the forecast period.
Improvisation of Distribution Base to be a Core Strategy of Key Market Players
In order to maintain their position in the market, the companies are focusing on expanding their distribution base and product development through R&D. Some of the leading companies are BASF SE, E. I. du Pont de Nemours & Co., Koninklijke DSM N.V., Cargill Inc., Novozymes A/S, Chr. Hansen Holding A/S, and Associated British Foods plc, among others.