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Growth, trends and predictions of the global feed enzyme market until 2025 – The market sees growing demand for animal protein
Dublin, February 1, 2021 (GLOBE NEWSWIRE) – The report “Feed enzyme market – growth, trends and predictions (2020-2025)” has been added to the ResearchAndMarkets.com offering. The global feed enzyme market is expected to register a 7.3% CAGR during the forecast period. Rising awareness, increasing demand for animal nutrition and a ban on antibiotics in many regions are driving the livestock industry and meat manufacturers to use more nutrition in feed, which should boost the global feed enzyme market. Food security has become a major issue for many governments around the world, especially in North America and Europe. Animals often stay in their own waste and are under constant pressure, which affects their immune system, making them prone to infections. Asia-Pacific emerges as one of the fastest growing markets for food enzymes and is mainly driven by the presence of a large livestock population (FAO 2017), as well as an increasing number of feed mills. These mentioned trends are attracting more participants to enter the feed enzyme market. Food enzymes can be additional strategies suitable for sustaining intestinal function and guaranteeing its productive performance during coccidiosis infections. However, the Covid-19 pandemic outbreak resulted in a disruption of the supply chain, resulting in a shortage of supply. This slightly affected the feed enzyme market. Main Market Trends Increasing Demand for Animal Protein The production of dairy feed is one of the few sectors that has seen growth in all regions, mainly due to the growing consumer demand for dairy products, such as milk, probiotics, cheese, yogurt and others. The European Union is one of the largest dairy markets in terms of volume of consumption. Thus, the production of dairy feed grew by an average of 2% in the European region. The United States, China and India are the largest producers of feed for ruminants, due to the presence of a large number of cattle and another population of ruminants, and the high demand for milk and meat products. For example, according to the Alltech Feed Survey, the United States produced 19 million metric tons of compound feed for dairy cattle and 21 million metric tons for beef cattle in 2018. This makes the United States the leading food enzyme market dedicated to dairy and beef. The increased production of dairy foods, coupled with the driving demand for high quality dairy products, has created a substantial demand for high fiber enzymes such as phytases, which will help birds have better digestibility for various mixtures of food ingredients , such as corn / soy flour. Asia-Pacific is the largest market The Asia-Pacific market is expected to record a high CAGR during the study period. With China and India a larger market in the Asia-Pacific region, its larger population is one of the main factors for Asia-Pacific to remain the largest market in the world. In the two main economies, China and India, there are about 7,200 feed mills producing about 227 million metric tons of compound feed. China contributes almost 18% of the global production of compound animal feed. Increased demand and production of compound feed in countries is expected to provide momentum to the feed enzyme market in the Asia-Pacific region. As the feed and livestock industry, mainly chickens and pigs, continues to evolve at a faster pace in China, feed mill companies are actively seeking feed enzyme innovations that add value to the country’s growing livestock sector. For example, in June 2016, Kemin Industries partnered with CRVAB Biotechnology Co. Ltd, an enzyme producer, to expand its ingredient offering mainly in feed enzymes for the country’s growing livestock industry. Competitive scenario Market analysis indicates that the market studied is consolidated, with large companies such as Koninklijke DSM NV, BASF SE, Dupont de Numerous Inc., Alltech Inc. and Adisseo dominating the market. Market participants are exploring the market’s potential through a variety of activities, including acquiring other companies, investing in their R&D facilities and more. Main topics covered: 1 INTRODUCTION2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY4 MARKET DYNAMICS4.1 Market overview4.2 Market drivers4.3 Market restrictions4.4 Analysis of Porter’s Five Forces5 MARKET SEGMENTATION 5.1 Animal Type 5.2 Type 5.3 Geography6 COMPETITIVE LANDSCAPE6 .1 Most adopted strategies6.2 Market Share Analysis6.3 Company Profiles7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET Mentioned DuPont de Nemours Inc.BASF SEKoninklijke DSM NVAdisseoAlltech Inc.Novus International Inc.Kemin Industries Inc. Biovet Joint Stock CompanyBio-Cat For more information on this report, visit https://www.researchandmarkets.com/r/ubks1r About ResearchAndMarkets.comResearchAndMarkets .com is the world’s leading source of international market research reports and market data . We provide you with the latest data on international and regional markets, important industries, major companies, new products and the latest trends. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, senior press manager [email protected] For EST business hours Call 1-917-300-0470 For USA / CAN Call 1-800-526-8630 For business hours GMT call + 353-1-416-8900