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(MoneyNewsWire.Net, March 28, 2018 ) North America Feed Enzymes market has been estimated at USD 18.81 Billion in 2016 and is projected to reach USD 25.65 Billion by 2021, at a CAGR of 6.40% during the forecast period from 2016 to 2021. Feed enzymes are a crucial part of commercial animal feeds. The inclusion of feed enzymes is an effective substitute to achieve optimum feed efficiency. The absence of certain enzymes in the livestock leads to the wastage of essential nutrients and increases the cost of feeds to compensate the appropriate nutritional elements. Feed enzymes have become an essential part of the globally increasing milk & meat industry.
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Demand for high-quality meat, developing economies with disposable income and sustainable alternatives, increase in demand for better and more efficient feed additives as alternatives to feed antibiotics and to manage input costs in livestock production are the factors that are driving the feed enzymes market in North America. Rising cost of imported raw materials and price volatility of agricultural commodities are the factors that are hindering the market growth.
North America Feed Enzymes market is segmented into Ingredient and animal type. Each of these segments are further sub segmented into, Ingredients: Carbohydrase, Phytase, others and Animal Type: Ruminant, Swine, Poultry, Aquaculture and others. Poultry and swine segments comprises majority of feed enzyme market share followed by ruminants. Carbohydrase are the most widely used enzymes.
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Geographically, North America Feed Enzymes market is segmented into US and Canada. It is the second largest market in feed enzymes with a market share of 22% in 2016. Animal husbandry is developing in the North American region with increasing attention towards favorable feeding patterns for livestock. This is leading the demand for feed enzymes. United States is the largest market within the region followed by Canada. Increasing meat exports as well as rising domestic consumption is the major driving factor for feed enzymes in Canada.
Major companies in the North America Feed Enzymes market are DuPont, DSM, BASF Corporation, Alltech, Novozymes and Adisseo France. Other Major players in the market are AB Enzymes GmbH, Advanced Enzymes Technologies Limited, Amano Enzyme Inc. Bio Vet JSC, Biocatalysts ltd, Chr. Hansen Inc, Enmex Sa De Cv, Lesaffre Group, PURATOS GROUP, Rossari Biotech Limited, Shenzhen Leveking Bio-Engineering Co. Ltd and Sunson Industry Group Company Limited.
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