According to a new market research report published by Credence Research, Inc. “Animal Feed Enzymes Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global animal feed enzymes market was valued at US$ 842.9 Mn in 2016, and is expected to reach US$ 1,487 Mn by 2025, expanding at a CAGR of 7.4% from 2017 to 2025.
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Animal feed enzymes are used to produce a large amount of meat at a faster rate with minimal cost per animal. Animal feed enzymes are mainly obtained from plants, animals and microorganisms. These enzymes help to improve the nutrient absorbing capacity and metabolism of animals. Growing population worldwide along with the changing food habits has led to substantial increase in the demand for frozen meat, over the period of time. This is expected to continue driving the demand for feed enzymes so as to improve animal health and produce high quality meat. Rising awareness relating to feedstuff quality along with economical price are among the prime factors stimulating the demand for animal feed enzymes.
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Increasing need for higher meat production is the most prominent factor driving the animal feed enzyme market. Increase in disposable income of people, changing food habits and the flourishing supermarkets and hypermarkets has led to the increase in consumption of meat globally. Animal feed enzymes increases the nutrition quotient in animal foodstuff and also lower the amount of animal waste. Thus, the overall animal feed enzymes market is set to exhibit promising growth in the following years.
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Europe had the market share of more than 30% in 2016, followed by North America and Asia Pacific. Germany and Spain are largest market for livestock production in Europe region. In Europe, the guidelines gaggle the demand for animal feed enzymes. North America has a huge demand for poultry meat and pork, which in turn accelerates the demand for animal feed enzymes market. Increasing awareness towards healthier and safe meats is positively driving the market. Asia Pacific is likely to have a significant growth over the forecast period, due to rise in socio-economic factors and increasing meat consumers.
Animal feed enzymes market is concentrated with few major players contributing to more than 40% of the total market revenue. This has increased the competitiveness of the industry. Some of the major companies operating in the market include Adisseo France SAS, Alltech Inc., Associated British Fzoods PLC, Azelis Holdings SA, BASF SE, Bio-Cat, Koninklijke DSM N.V., Lesaffre, Novus International, Inc., Rossari Biotech Ltd, and Royal DSM N.V.
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