July 17, 2017
Feed enzymes market to grow 9.3% yearly to US$1.43B in 2022 - report
The feed enzymes market was valued at US$842.9 million last year and is projected to grow at a CAGR (compound annual growth rate) of 9.3% from 2017, to reach $1.429 billion by 2022.
According to a report on feed enzymes released this month by MarketsandMarkets, the key companies in this sector include BASF SE (Germany), E. I. du Pont de Nemours and Company (US), Associated British Foods plc (UK), Koninklijke DSM N.V. (Netherlands) and Adisseo France SAS (France).
"These are well-established and financially stable players that have been operating in the industry for several years", the report said, adding that other significant players include Azelis Holdings SA (Belgium), Rossari Biotech Ltd (India), BIO-CAT (US) and Alltech Inc. (US).
Feed enzymes are used as feed additive to save on costs and they enable raisers to produce more meat per animal or to produce the same amount of meat cheaper and faster. They are marketed by type (phytase, protease and carbohydrase), livestock (ruminants, swine, poultry and aquatic animals), source (ruminants, swine, poultry, and aquatic animals) and form (liquid and dry).
According to the report, Asia-Pacific would be the fastest-growing market for feed enzymes, with China as the biggest market in this region.