Global feed enzymes market to reach $1,371M by 2020
New report says Asia-Pacific region is expected to be the fastest-growing market in the near future
A new report "Feed Enzymes Market by Type (Phytase, Protease, and Non-starch Polysaccharides (Xylanase, beta-glucanase, Cellulase, Mannanase & Pectinase), by Livestock (Swine, Poultry, Ruminants, and Aquatic Animals) & by Region - Global Trends & Forecast to 2020" is available from MarketsandMarkets.
The global market for feed enzymes was valued at $899.19 million in 2014 and is projected to reach $1,371.03 million by 2020, at a CAGR of 7.3 percent from 2015 to 2020. The market is segmented and market values are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). The key countries are covered and their market sizes have been forecasted for each region. Further, the market is segmented and market values are forecasted on the basis of applications.
Feed enzymes have become an essential part of the globally increasing milk and meat industry. Increasing population trends support the milk and meat market globally, thereby leading to a growth in the demand for feed enzymes. Feed enzymes are gaining importance as it leads to better feed conversion by the animal, improved feed quality, and represent an active contribution to animal welfare.
The high-growth potential in emerging markets and untapped regions provides new growth opportunities for market players. The growth of this market is driven by growing customer attention towards superior quality feed grades, which should be balanced and nutritive.
The global market for feed enzymes was valued at $899.19 million in 2014 and is projected to reach $1,371.03 million by 2020, at a CAGR of 7.3 percent from 2015 to 2020. Europe dominated the global market in 2014. The Asia-Pacific region is expected to be the fastest-growing market in the near future owing to the growing milk and meat consumption in the region.
According to the 2012 statistical data of livestock, production in China and India is steadily growing which is resulting in increased demand for feed enzymes for pork and poultry industries. This increase in demand for meat protein has triggered the meat production in the Asia-Pacific region, where uptake of feed enzymes has increased and is expected to show healthy growth. Apart from improving the nutritional value of feed, these feed enzymes are gaining importance for their role in feed cost reduction and meat quality improvement.
In the global scenario, the U.S. is among the top-three producers of feed enzymes. As animal husbandry is developing in the North American region, attention towards favorable feeding patterns for livestock is leading the demand for feed enzymes. The major livestock segments in this region are pork and poultry. The increasing demand for the poultry segment led to a rise in the demand for feed grade supplements, resulting in an increase in the demand for feed enzymes.
Royal DSM NV is a major player leading the business of feed enzymes in this market. The American Feed Industry Association governs the market for feed enzymes in this region. The demand for better and more efficient feed additives, such as enzymes, is expected to increase not only as alternatives to feed antibiotics but also to manage input costs in livestock production. The development of new feed enzymes and direct feed microbial products with customized usage capabilities will act as an opportunity for feed enzymes market players.