The MRFR report suggests that the global feed enzymes market is projected o grow substantially over the forecasted era from 2022 to 2030.
Feed enzymes are used to improve the quality of animal nutrition and improve the nutritional properties of animal fodder. Enzymes refer to natural proteins produced by animals as a component of the feed digestion process. The global feed enzymes market outlook has witnessed enormous growth in the past few years. The market's growth is being driven by the changing lifestyle and consumers' preferences towards a healthy diet across the globe. Furthermore, the factors such as increasing meat consumption, growing health concerns, increasing awareness, increasing population in developing countries, and rising consumption of poultry and meat products are also estimated to boost the market's growth over the assessment era.
Segment Analysis
The global market for feed enzymes has been fragmented into numerous segments based on livestock, type, form, and region.
The global feed enzymes market is split into phytase, protease, and others based on type.
By livestock, the global market for feed enzymes is divided into aquatic animals, ruminants, poultry, swine, and others.
The global feed enzymes market is fragmented into liquid, dry, and others based on form.
Regional Analysis
The feed enzymes market is analyzed across five major regions: Asia-Pacific, Europe, North America, South America, and the Middle East Africa.
As per the MRFR report, the global feed enzymes market is estimated to be led by the North American region over the forecasted era. The increasing demand for nutritional protein-based feed products across developed countries such as Canada and the U.S. is the primary aspect causing an upsurge in the regional market. Moreover, the growing demand for poultry products across the region is also likely to boost the growth of the regional feed enzymes market share over the coming years. The major market leaders across the region are making heavy investments in research developments to launch the latest and innovative products across the market.
The Asia-Pacific region is anticipated to record substantial growth over the assessment era. The regional market's growth is attributed to the growing per capita income and growing awareness among consumers across the region.
Competitive Analysis
The global feed enzymes market has a strong and competitive landscape. The players in the global market are focusing on the expansion of their global market reach by implementing several growth strategies such as mergers, acquisitions, and partnerships. The list of leading players in the global feed enzymes market includes Alltech, Inc. (U.S.), Rossari Biotech Ltd. (India), Azelis Holding S.A. (Belgium), Behn Meyer Holding AG (Germany), Associated British Foods plc (U.K), BASF SE (Germany), Novus International, Inc. (U.S.), Adisseo France SAS (France), Koninklijke DSM N.V. (the Netherlands), E. I. du Pont de Nemours and Company (U.S.), and several others.
Recent Developments
- February 2022 - BASF, a German chemicals firm, announced the completion of an expansion of its feed enzymes production facility in Ludwigshafen, Germany, allowing the firm to raise the number of fermentation runs at the site everyday year. The vice president of global business management, Michael De Marco, said that with the expansion BASF focuses on the needs of the company's customers through investments and product innovation. He further added that This emphasizes the firm's commitment to fulfilling the growing demand of the company's customers around the globe.
- November 2021- Archer Daniels Midland (ADM) has announced its plans to buy a provider of probiotic, prebiotic, and enzyme technology, Deerland Probiotics and Enzymes. The terms of the deal are not disclosed yet; that is a matter of regulatory approval but projected to finish within the coming weeks.
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