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Animal Feed Enzymes Market Size Estimated to Reach $2.19 Billion by 2027

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Animal Feed Enzymes Market Size Estimated to Reach $2.19 Billion by 2027

May 07
05:09 2022
Animal Feed Enzymes Market Size Estimated to Reach $2.19 Billion by 2027
Animal Feed Enzymes Market | IndustryARC
Elevating health consciousness among people eventually resulting in augmented consumption of the dairy product, meat, and other poultry items like egg is the major factor set to drive the growth of the Animal Feed Enzymes Market

Animal Feed Enzymes Market size is estimated to reach $2.19 billion by 2027, growing at a CAGR of 7.6% during the forecast period 2022-2027. Enzymes fall under the category of proteins that act as a catalyst to speed up the chemical processes inside the body. Fodder and forage are two leading examples of feed given to domestic animals. Many feeds exhibit detrimental substances that condense the digestion capacity. Usually, pigs and poultry find themselves incapable of digesting the diet and leads to infections such as pathogenic avian influenza. Therefore, enzymes like phytase are included in the animal feeds as it breaks down the myo-inositol hexaphosphate (phytate), release the phosphate, and improve the overall digestibility. Therefore, feeds play a significant role when it comes to improving metabolism. Furthermore, organic feeds are now what is recommended owing to the hyper-sensitive rise in cases of hemangioendothelioma, a low-grade malignant cancer. Furthermore, bovine spongiform encephalopathy, a cattle disorder that spreads to humans can cause brain disorder. Furthermore, the animal feed enzymes market outlook is quite enchanting as they help in the well-being of the animals and decline the demise rates of animals. Elevating health consciousness among people eventually resulting in augmented consumption of the dairy product, meat, and other poultry items like egg is the major factor set to drive the growth of the Animal Feed Enzymes Market for the period 2022-2027.

Animal Feed Enzymes Market Segment Analysis – By Type

The Animal Feed Enzymes Market based on the type can be further segmented into Protease, Carbohydrase, Phytases, and others. The phytase segment held the largest share in 2021. The growth is owing to the effectiveness of this feed enzyme in fulfilling the deficiency of minerals such as zinc and calcium. Phytase starts its effect by initiating the breakdown of Myo-inositol hexaphosphate (phytate) and subsequently releases the phosphate content to overcome the deficiency of nutrition. Due to unhygienic and inhumane conditions at the farms, poultry, and household facilities their digestive power decreases. Therefore, enzymes like phytase are taken into account to ensure animal health and increase the overall yield. Besides phytase, carbohydrases are commonly taken into account as feed additives to improve the quality of fodder. Carbohydrases are well-known for improving digestion by smoothing the hydrolysis of polysaccharides. Both phytase and carbohydrases segment is estimated to be the fastest-growing segment with a CAGR of 8.4% over the forecast period 2022-2027. This growth is owing to the growing demand for dairy and meat.

For More Information About Animal Feed Enzymes Market @

https://www.industryarc.com/Research/Animal-Feed-Enzymes-Market-Research-504921

Report Price: $ 4500 (Single User License)

Animal Feed Enzymes Market Segment Analysis – By Livestock

The Animal Feed Enzymes Market based on livestock can be further segmented into Poultry, Swine, Aquaculture, and others. The poultry segment held the largest share in 2021. The growth is owing to factors such as chicken and other poultry are more prone to digestive problems. Generally, they find themselves inept in digesting 20-25% of the food. Therefore, feed enzymes like phytase are involved in feeds which intensify the captivation of minerals (=zinc, calcium) and help in breaking down phytate and release phosphate content.

Similarly, the poultry segment is estimated to be the fastest-growing segment with a CAGR of 8.6% over the forecast period 2022-2027. This growth is owing to proliferating consumption of meat derived from chicken, turkey, and ducks, eggs as people are becoming more health-conscious. As per USDA projections, the demand for poultry would grow by around 16.3% from 2021-2030. The expansion of foodservice retailers like McDonald’s has completely transformed the use of chicken by offering products like Chicken McNuggets. Furthermore, the nutrient-rich, appetizing, and cost-effective nature of chicken has made it the most desired form of meat throughout the world.

Animal Feed Enzymes Market Segment Analysis – By Geography

The Animal Feed Enzymes Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share with 41% of the overall market in 2021. The growth in this segment is owing to the factors such as colossal consumption of broiler meat and dairy products in countries like China, India, Australia, and Japan. China’s poultry consumption has reached over 20 million tonnes per year. Moreover, China has acquired the status of the highest pork consumer with 30.4 kilograms per capita. Even recently, CP Foods Vietnam has installed the largest breeding and processing complex for chicken exports in the Socialist Republic of Vietnam. Moreover, the Asia-Pacific segment is expected to offer lucrative growth opportunities to marketers over the forecast period 2022-2027. This growth is owing to swift industrialization and modernization changing people’s living standards. With prospering GDPs per capita income of these nations is upsurging. People are more capable than ever to make such purchases. On another hand, elevating chronic illnesses are gravitating people’s attention toward protein and nutrient intake therefore overall consumption of dairy and meat is intensifying. India is the biggest consumer of milk with over 80,000 metric tons consumption annually.

Animal Feed Enzymes Market Drivers

Enlarging consumption of meat, eggs, and other dairy products is Anticipated to Boost Product Demand

As health awareness among people is enlarging a massive shift in people’s attitudes from treatment to prevention can be witnessed. With increasing purchasing capacity people are increasing the demand for protein and carbs-rich foods. According to a report, meat consumption has plunged to 350 million tons annually. Furthermore, dairy consumption isn’t left behind. India alone consumes more than 80,000 metric tons of milk every year. Moreover, these numbers are expected to increase further as the world population is anticipated to touch 9 billion before long.

Slight expansion in diseases associated with poultry, proliferating livestock production is Expected to Boost Product Demand

There has been a slight expansion in incidences of spine flu and pathogenic avian influenza. The animal-to-human transmission nature of this H1N1 influenza is what makes it more deadly. The disease was declared as a pandemic by the world health organization in 2009-10 when it claimed more than 284,000 lives. Moreover, in a recent survey of 41% of households in the capital city of India more than 2-3% of cases were found positive. Therefore, this increasing prevalence is forcing farm and poultry owners for making use of feed enzymes to ensure animal health in the first place.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=504921

Animal Feed Enzymes Market Challenges

The threat of infected products, diminished demand, and hampered supply chain due to the COVID-19 is Anticipated to Hamper Market Growth

The broadening prevalence of diseases like swine flu can play the role of both that is a driver as well as a challenge. To ensure their personal safety people may cut down on the consumption of meat and other poultry items which may hamper the growth in the respective market. Moreover, hampered demand and supply chain as nations are going into lockdowns again in the wake of virus mutations can contribute its fair share in bringing down the demand. Additionally, consumers are growing heavily label conscious. For example, as per the Ingredion report around 42% of the consumers prefer products that are GMO-free and around 35% feel that products should be sustainably obtained.

Animal Feed Enzymes Market Competitive Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Animal Feed Enzymes Market. The top-10 Animal Feed Enzymes Market companies of this market are-

Advanced Enzyme
BASF Se
Danisco A/S and Elanco
Ab Vista
Adisseo
Meyer Holding AG
Beldem SA
Bioproton Pty Ltd
Bioresource International Inc.
Elanco

Recent Developments

On August 30, 2021, US-based animal health company Elanco announced that it has successfully acquired California-based veterinary biopharmaceutical firm “Kindred Biosciences.” A payment of $444 million is made to Kindred Biosciences by Elanco to acquire all outstanding shares at $9.25. Moreover, the acquisition will enhance Elanco’s reach to the dermatology market.

On November 11, 2020, China-based animal feed additive manufacturing company “Bluestar Adisseo”, commonly known as Adisseo announced the successful acquisition of Netherlands-based feed additive firm “FRAmelco Group.” The acquisition is done by Adisseo mainly to strengthen its desire to dominate the animal additives market. The company runs 3 plants which are located in the Netherlands, Spain, and Thailand. Additionally, the business generates close to 30 million pounds each year.

On August 3, 2020, Elanco publicized that it has completed the acquisition of the animal health business of Germany-based pharmaceutical and life sciences company Bayer. The total value of the transaction stands around $6.89 billion out of which $5.17 billion was paid in cash and remaining in stocks. The transaction gives a boost to Elanco’s pet health business. In retail and online in order to create an omni-channel leader best positioned to serve veterinarians and pet owners where they want to shop.

Key Takeaways

Geographically, the Asia-pacific Animal Feed Enzymes Market accounted for the highest revenue share in 2021. Similarly, it is poised to dominate the market over the period 2022-2027.

Escalating consumption of meat and dairy products is said to be the preeminent driver driving the growth of the Animal Feed Enzymes Market. Concerns regarding the quality of poultry products are said to reduce the market growth.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Animal Feed Enzymes Market report.

Relevant Link:

Meat Substitutes Market

https://www.industryarc.com/Report/7489/meat-substitutes-market.html

For more Food and Beverage Market reports, please click here

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