The global animal feed enzymes market size was estimated to be USD 987 million in 2017 and is forecasted to grow at a CAGR of 7.3% from 2018 to 2026. Rising demand for meat across the globe coupled with inherent benefits offered by feed enzymes such as increased resistance to diseases and higher yield is driving market growth.
There is a rising demand for high quality animal protein across the globe and this trend is expected to continue over the near future. The animal production lifecycle has decreased considerably. This has put strain on industry participants to get maximum output in less time. Animal feed enzymes, in a sustainable manner, aid in the optimization of animal production thus benefiting to the market growth.
These animal feed enzymes additives offer significant cost reduction in animal diets and can positively influence the overall ingredient price matrix. They result in proper and continuous nutrient release thus contributing to decreased cost per kg of meat. They play a pivotal role in enteric animal health management. They inhibit the bacteria thriving due to factors such as excess dietary nitrogen. Such factors have led to a rising demand for enzymes across the globe.
Initially, the role of feed enzymes was restricted to phosphorus excretion reduction. Mostly, phytase was used for this application. Continuous R&D activities pertaining to the same have broadened the application portfolio of the animal feed enzymes thus benefitting the market growth. Companies have developed customized products to suit customer needs.
Studies have shown that the diets of swine and poultry consists of corn and soybean based meals. Studies have also shown that in full grown animals, about 15% of the diet becomes unavailable to the animals due to various reasons such as insufficient enzyme production in the animal gut. Undigested animal feed also has detrimental effects such as gut irritation, diarrhea and can hamper the overall nutrient absorption. Animal feed enzymes help these full grown animals to digest the animal feed.
Industry participants have developed products to tackle such challenges. Animal feed enzymes products such as those aiding in the phosphorous release and increasing its availability, as well as increasing the protein availability have been developed. These products also cater to the digestibility of starch, corn and soybean based diets. Such trends are expected to propel the market growth over the forecast period.
Animal feed enzymes result in the optimization of gut health, resulting in uniform growth as well as enhancement of overall health. They decrease the overall feed cost thus resulting in improved profitability. As they provide benefits to animals as well as producers, it is estimated that their usage will continue to grow thus benefitting the growth of the market share.
Market Estimates and Forecast
· Aquatic Animals
· North America (U.S., Canada)
· Europe (Germany, UK, France, Italy,)
· Asia-Pacific (China, Japan, India, Singapore, Australia)
· Latin America (Brazil, Mexico)
· Middle East and Africa
· Historic year: 2015, 2016
· Base year: 2017
· Forecast Year: 2018 to 2026
· Revenue (USD Billion)
On the basis of product, the overall market has been classified into Phytase, Protease, and Carbohydrase. Protease are a recent addition to the overall feed enzyme portfolio. Phytase and Carbohydrase enjoy a significant market penetration. These products differ in their structure as well as their activity.
Phytase are primarily used for monogastric diets. As it results in the reduction of phosphorus excretion reduction, contributing to diet cost savings thus resulting in a rise in demand for the same. Carbohydrase enzymes mainly consist of amylases, xylanases, and glucanases. They aid in the breaking down and degradation of starch, on starch as well as fiber. Protease enzymes have vegetable or animal protein as their substrates. They result in the anti-nutritional breaking down of proteins.
On the basis of livestock, the market has been segmented into Ruminants, Swine, Poultry, and Aquatic Animals. Decreasing arable land, rising population as well as rising demand for meat especially from developing countries has put strain on meat producers to maximize output while minimizing resources. These factors has resulted in a rise in demand for animal feed enzymes for livestock such as poultry, swine as well as ruminants.
Asia Pacific market emerged as the largest market and this trend is expected to continue till the end of the forecast period. Rising demand for meat due to changing lifestyles, rising population as well as increasing disposable income is anticipated to boost the regional animal feed enzymes market growth. Companies have established regional offices to further enhance their marketing and distribution channels.
Europe and North America are also expected to contribute significantly to market growth. Some of the factors responsible for the same are prevalent awareness regarding quality of meat, as well as additive usage, and ban on antibiotics in these regions are expected to aid market growth. The strong presence of industry participants has also benefitted the market growth in the region.
The global animal feed enzyme market is characterized by high degree of industry rivalry. Companies are focusing on novel development of products to capture market share. Companies are also involved in increasing the awareness of usage of animal feed additives such as enzymes in developing countries such as India and South Africa. Some of the major market players for Animal Feed Enzymes include Chr. Hansen Inc, BASF Corporation, Bio Vet JSC, DuPont, Enmex SA De CV, Adisseo France, Alltech, Novozymes, AB Enzymes GmbH, Advanced Enzymes Technologies Limited, and Lesaffre Group.