June 30, 2020
Animal Feed Enzymes Market seen to beat US$2.3 billion
Animal Feed Enzymes Market is expected to exceed US$2.3 billion by 2026, Cuereport reported.
Rising concerns towards disease outbreak in poultry animals and growing regulations to promote livestock safety are increasing adoption of animal feed enzymes.
Stringent government regulations towards usage of feed additives in the US, Europe to conserve animal and individual health is likely to strengthen animal feed enzymes market growth.
Feed enzyme additives provide a suitable substitute and are replacing traditional animal feed as they offer high nutritional value and comply with safety standards.
Increasing consumption of meat and poultry products along with animal protein and dairy products in China and South Korea is expected to offer lucrative opportunities for market expansion.
The demand for protease enzymes is increasing across the globe owing to their superior benefits such as protein digestibility and improvement in gut health.
Manufacturers are utilising effective fermentation processes such as solid surface fermentation and bio-catalysis to offer thermally stable dry feed enzyme formulations.
Some of the major participants operating in the animal feed enzyme market are DSM, BASF, Danisco and Novoenzymes.
Consumers are preferring high quality feed grades to provide a balanced nutrition to animals owing to rising health disorders and concern towards animal wellbeing. Government across the globe are supporting advancements in feed manufacturing to meet effective animal health requirements and thereby contributing towards the business development.
Acceptance of feed enzyme technology to increase the nutritional value of feed ingredients and reduce feed costs is expected to drive the animal feed enzymes market growth. Protease is widely used in animal nutrition owing to its high heat stability and ability to protect environment by reducing nitrogen excretion from animal husbandry. These enzymes break protein molecules into essential amino acids which are required by the animals, thus favouring animal feed enzymes industry.
Rise in incidents of disease prevalence have resulted in increased regulations for additives to use in animal nutrition which shall hinder the business growth. Various government norms require feed enzymes to be certified safe before they can be used for livestock. In addition, concerns towards the health and safety of animal is influencing final product cost for manufacturers which is expected to limit the business expansion.
The market is expected to witness significant demand for poultry livestock due to changing consumer food habits and rising preference for non-vegetarian diet. Demand for high quality meat and milk products in North America has strengthened the need for efficient feed additives as substitutes to synthetic feed antibiotics. Animal feed additives market in the US valued over at US$6.5 billion in 2018.
Manufacturers worldwide are focusing towards the usage of safe additives in animal nutrition to safeguard public health. For instance, Enzyme Innovation, a US-based bioscience company launched DigeGrain Delta, multi-enzymes blend to reduce the use of antibiotic growth promoters. The product enhances absorption of nutrients and improves performance of swine and poultry animals.
Companies are focusing on research & development activities to promote technological innovations and improve quality of livestock feed. Manufacturers are involved in implementation of new methods to enhance efficiency and performance of animal feed additives.
Major players are expanding their market presence by acquiring small scale enzyme manufacturing units to withstand the growing competition. Key manufacturers are making huge investments to enter emerging markets such as Brazil and Saudi Arabia.