Manufacturers are introducing advanced feed enzymes to cut down on expenses and improve feed-stuff utilization. This would remain another strong factor assisting the growth of feed enzymes market in the near future.
The global feed enzymes market size is estimated to account for USD 1.8 billion in 2022 and is projected to reach USD 2.3 billion by 2032, recording a CAGR of 8.1% during the forecast period. Growing popularity of enzymes as ideal feed additives for promoting animal growth, enhancing digestion and increasing immunity is a major factor behind the expansion of feed enzymes market.
Key Takeaways – Feed Enzymes Market Study
- The feed enzymes market will be prominently driven by high demand for carbohydrase-based feed enzymes in the foreseeable future. However, protease-based feed enzymes are set to witness maximum growth opportunities.
- In 2016, Kemin Industries, Inc. introduced a unique solution of carbohydrases named KEMZYME, to enhance the use of complex feed matrix.
- In 2017, DuPont Industrial Biosciences, launched DuPont Axtra PRO, a single protease feed enzyme in Latin America. Axtra PRO aims at improving protein digestibility in animal and saves producers cost without compromising on performance or animal health.
- The most commonly used feed enzymes in the poultry industry are phytase and carbohydrase, as they target phytic acid complexes in plant ingredients and remove the viscous fiber in cereals.
- Feed enzymes are gaining significant traction in poultry, as they help in effective utilization of raw materials and reduce feed cost. Besides, the demand will be higher for aquatic animals, attributing to increasing fisheries and farming practices, and rising awareness concerning sustainable and responsible fish farming.
- Recent introductions in the feed enzymes market are based on maize-soy complexes.
Players operating in the feed enzymes market must focus on the development of species-specific feed enzymes benefiting animals at all life-stages and reducing risk of diseases. Manufacturers may benefit from introducing cost-effective products in emerging economies, which are primarily agrarian.
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Demand for Sustainability to Create Lucrative Opportunities for Manufacturers of Feed Enzymes
Key players operating in the feed enzymes market strive to deliver high quality additives and ingredients for animal feed to ensure healthier animals with improved efficiency and productivity. Manufacturers are thus producing animal-specific enzymatic solutions to provide effective solutions.
- In 2019, BASF SE, launched Natuphos E, a next generation phytase for the feed industry in Indonesia. Natuphos E provides overall stability – in premix, and during the harsh pelleting process, in addition to an 18-month shelf life stability. With this new product launch, the company aims to improve nutrient utilisation in poultry. This new feed enzyme also reduces phosphorus emissions from livestock.
- In 2018, Archer-Daniels-Midland Co, expanded its specialty feed additives portfolio, which included fiber-degrading feed enzyme for use in swine and poultry diets. The company aims to improve the animal performance while minimizing cost.
- In 2018, DSM and Novozymes launched the world’s first feed enzyme to increase gut functionality for broiler chicken. This feed enzyme targets at faster feed intake in broilers, reducing the feed required, and aiding sustainable production.
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Feed Enzymes Market Segmentation
- Aquatic Animals
- Others (Equine & Pets)