Feed Enzyme Market Overview, Share, Growth Drivers and Forecast Report 2024
Feed enzymes are enhancer that are incorporated in the animal feed during the manufacturing process to resolve the nutrient deficiencies in farm animals. Sometimes, animals face digestive troubles due to the consumption of anti-nutritional ingredients in the feed, which can be avoided by addition of feed enzymes. The feed enzymes are not only capable of withstanding acidic condition but also the heat generated during the pelleting process that breakdown starch, making the feed more digestible. With the global rise in demand of meat industry, and awareness among customers for the animal’s health and wellbeing, the considerable growth in the global feed enzyme market has been observed. Further, the need to opt for cheaper alternatives and to fulfill the globally growing demand of protein will drive the feed enzyme market in the coming years.
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The global feed enzyme market is expected to witness considerable growth during the forecast period. The major factors driving its growth are the increase in demand in the consumption of animal-meat and animal based products. Recently, the outbreak of diseases among livestock such as avian influenza, classical swine fever, bovine spongiform encephalopathy, has raised awareness among consumers to focus on the healthy well-being of livestock and to avoid recurrence of such situations. The need to develop cheaper alternative to feed has persuaded manufacturers to look for other options such as plant source for feed enzyme. This is expected to have positive impact on the growth of the global market in the coming years. Moreover, the ban applied on usage of antibiotics to opt for more natural based products is also driving the global feed enzyme market.
The disease outbreak among farm animals are a major concern and requires adequate intervention in the health and nutrients provided through animal feed. Regulatory standards for the feed enzyme market are stringent in certain countries, which hinder the growth of the global feed enzyme market. Other key factor restraining the growth of the global market is the uncontrolled environmental condition that hampers the feed stock.
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Key players across the globe are forming alliance to expand their product portfolio and gain larger share in the global feed enzyme market. Koninklijke DSM N.V and Novozyme alliance promises to deliver innovative products to meet challenges of the global market. In May 2017, Huvepharma linked up with Intrexon Corporation entered into a research collaboration to form more cost-effective animal feed enzymes using Intrexon Corporation’s fungal expression platform.
Some of the other key players in the global feed enzyme market are BASF SE, E. I. duPont de Nemours and Company, Adisseo France SAS, Rossari Biotech Ltd., Alltech Inc., Lesaffre & Cie, Associated British Foods plc, Koninklijke DSM N.V., Azelis S.A., Novus International Inc., and BIO-CAT.
Source: P&S Intelligence
