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(MoneyNewsWire.Net, May 25, 2018 ) The feed enzymes market is projected to grow at a CAGR of 9.3% from 2017, to reach a projected value of USD 1,428.6 Million by 2022. The replacement of expensive fish meal with feed enzymes, and rising awareness about feed quality present feed enzyme providers with lucrative opportunities in the feed enzymes market in the next five years. Fish meal is one of the most critical and expensive ingredients in aquafeed production; however, fish meal is scarcely available, making it a costly ingredient. The increasing cost of fishmeal has encouraged feed manufacturers to search to cheaper alternative protein sources, such as plant proteins. This is one of the major opportunity in the feed enzymes market.
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On the basis of type, the phytase segment accounted for the largest market in 2016. It promotes higher feed intake, which helps in the growth of animals, leading to better performance.
On the basis of livestock, the poultry segment accounted for the largest market in global feed enzymes market in 2016. It provides poultry birds with proteins, thereby increasing their growth rate; they also strengthen their immune system. Hence, they are required for higher end production of poultry meat, which is in high demand, globally.
The liquid segment was larger by form, and is projected to be grow at a higher rate. The reasons for its increasing popularity are their higher suitability, cost-efficiency, and effective means of mixing enzymes in feed. Such advantages make this the more widely used form of feed enzymes, over dry enzymes, among animal farmers.
Microorganisms dominated the feed enzymes market in 2016, by source; it is projected to grow at the highest CAGR from 2017 to 2022. Microorganisms are economical to use, are more stable in extreme conditions, and can be easily manipulated in the laboratory. Such benefits provided by the microorganisms over the other sources plant and animal sources make it more popular and easy to use in animal feed.
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Increase in need for food security, high investment in R&D, and change in farming practices form the key to success in the Asia-Pacific region. The largest producer in the region, China, continues to contribute to the region’s leading position, along with substantial growth witnessed in India and Japan. Pork and poultry are widely consumed in the Asia-Pacific region. The demand for poultry is estimated to increase in India and China due to the rising population, increasing purchasing power, and changing consumer food preferences. This increase in demand for meat protein has triggered the meat production in the region, where the uptake of feed enzymes has increased and is expected to show healthy growth. These factors are influencing the growth of the feed enzymes market in Asia-Pacific.
The major restraint in the feed enzymes market includes the regulatory structure and interventions. Due to the stringent rules and protocols regarding animal welfare and food safety, the feed enzymes market is highly regulated in regions such as Europe and North America. These enzymes have to be approved with due regulatory procedures in place, which prove lengthy and time-consuming. The regulatory environment is comparatively moderate in other parts of the world, which impacts the trade of these regions with European countries, due to quality and safety issues. Such regulatory initiatives are posing challenges to the feed enzyme industry players.
The market for feed enzymes consists of key players BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (Netherlands), and Adisseo France SAS (France). Other significant players include Azelis Holdings SA (Belgium), Rossari Biotech Ltd (India), BIO-CAT (U.S.), and Alltech Inc. (U.S.). New product launches and expansions to different regions across the globe are the most preferred strategies adopted by key players to gain a larger share of the market.
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