Dublin, May 12, 2023 (GLOBE NEWSWIRE) -- The "Global Feed Enzymes Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global feed enzymes market reached a value of USD 1023 million in 2022. Aided by the increased demand for high-quality animal feed and the growing focus on animal health, the market is projected to grow at a CAGR of 8.7% between 2023 and 2028, reaching a value of USD 1684.18 million by 2028.
Feed enzymes are additives used in animal feed to enhance the nutritional value and digestibility of feed. They help in the breakdown of complex molecules into simpler forms, allowing animals to absorb nutrients more efficiently. The global feed enzymes market is influenced by factors such as the growing livestock industry, increasing demand for animal-derived products, and stringent regulations on the use of synthetic additives in feed.
Further, the adoption of sustainable and eco-friendly feed practices has contributed to the development of the global market for feed enzymes.
The rise in demand for high-quality animal feed has resulted in increased consumption of feed enzymes across the globe. Additionally, the growth in the livestock industry and the expansion of the aquaculture sector have further propelled the global feed enzymes market growth.
Feed enzymes offer health benefits such as improved digestion, enhanced nutrient absorption, and reduced environmental impact, making them an essential component of modern animal nutrition. Thus, the increasing awareness about animal health and welfare has also contributed to the development of the global market.
The Asia Pacific region is currently leading the global feed enzymes market, with countries like China, India, and Japan being the largest producers. Due to rising populations, rising consumer spending power, and changes in lifestyle and eating habits, China and India are driving the growth of the chicken and pork markets in the Asia Pacific region.
The region's market is also being driven by the growing demand for food security, which has resulted in significant expenditures in the industry's research and development. The increasing adoption of intensive farming practices and the rising awareness about the importance of feed enzymes for animal health and performance are further contributing to the global feed enzymes market expansion in Asia Pacific.
Market Segmentation
The market can be divided based on type, application, form and region.
Market Breakup by Type
- Phytase
- Protease
- Carbohydrase
- Others
Market Breakup by Application
- Poultry
- Swine
- Ruminants
- Aquaculture
Market Breakup by Form
- Dry
- Liquid
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global feed enzymes companies. Some of the major key players explored in the report are as follows:
- Novozymes A/S
- Koninklijke DSM N.V
- Nutrition and Bioscience group of companies (International Flavors & Fragrances Inc)
- Archer Daniels Midland Company
- BASF SE
- NOVUS INTERNATIONAL
- BioResource International, Inc
- BIOPROTON
- AVEVE Biochem NV
- VEMO 99 Ltd
- Palital Feed Additives B.V
- Bioseutica BV
- AB Enzymes GmbH
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1109 Million |
| Forecasted Market Value (USD) by 2028 | $1684.18 Million |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/90akpe
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