The global feed enzymes market size is estimated to grow to US$ 1.2 billion in 2023 and is projected to reach US$ 1.8 billion by 2033. The market is expected to record a CAGR of 4.4% during the forecast period.
In the Face of Antibiotics Ban, Feed Enzymes Emerge as Lucrative Alternative
Several developed markets have banned the use of antibiotics for livestock. As a result, feed enzymes have emerged as an alternative. Since they pose few side effects when properly used, they aid in digestion and immune boosting. Hence, a significant segment has started preferring immune-boosting feed enzymes over conventional antibiotics.
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Possible Side-Effects of Feed Enzymes, Major Hurdle to Market Growth
The vast array of benefits that can be reaped through feed enzymes is limited by physiological factors impeding enzyme action. Moreover, feeding enzymes to livestock over the prescribed limits could have undesirable consequences. The level of the enzyme to be administered to an animal depends on various factors such as age, size, breed, and such. The same can only be determined by an experienced professional such as a veterinarian. Certain enzymes when consumed improperly can cause blood thinness, diarrhea, and vomiting in animals
Key Players Keen to Cater to Niche Markets
Since feed enzymes are increasingly being preferred over antibiotics, key players are aiming to boost production efficiency. Different livestock animals have different feed enzyme requirements depending on their characteristics. Hence, key players need to develop unique product variants to cater to the livestock market. The current forecast period is already witnessing the launch of diverse product lines, by top manufacturers such as DSM and ADM.
Key Takeaways from the Report:
- In terms of revenue, the Feed enzymes market grew at a CAGR of around 4.8% during 2017 and 2022.
- During the forecast period, the Chinese market is projected to grow at a CAGR of 4.3% to attain a valuation of US$ 178.4 million by 2033.
- The Indian industry is projected to expand at a CAGR of 4.3% between 2023 and 2033 to attain a valuation of US$ 80.4 million.
- The U.S. market is anticipated to grow at a CAGR of 4.5% during the forecast period.
- The Carbohydrase segment is expected to grow at a CAGR of 3.8% between 2023 to 2033.
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Key Market Developments:
- Danisco Animal Nutrition recently launched the Extra PHY GOLD, a new variant of phytase enzyme.
- The second generation of ProAct 360, which is a protease enzyme, was released by the DSM in collaboration with Novozymes Feed Enzymes Alliance.
- ADM is all geared up to launch new R&D labs in the United States. These focus on developing sustainable variants of feed enzymes.
- CapriEnzymes is an Indian startup that harnesses biotechnology to produce innovative enzyme variants.
- BRI is a startup primarily focusing on the research and development of sustainable feed enzyme additives.
Key Players:
- BASF SE
- DuPont
- Associated British Foods Plc
- BEHN MEYER
- DSM
- Azelis S.A.
- Rossari
- BIO-CAT
- BEC Feed Solutions
- Adisseo
- Bioproton Pty Ltd.
- Novus International
- BioResource International, Inc.,
- Alltech
- Lesaffre
- Karyotica Biologicals Pvt Ltd.
- Aum Enzymes
- Biovet
- Hansen Holding A/S
- CapriEnzymes
- Advanced Enzyme Technologies
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Feed Enzymes Market Segmentation
By Form:
- Dry
- Liquid
By Product:
- Phytase
- Carbohydrase
- Protease
By Source:
- Microorganisms
- Plants
- Animals
By Animal:
- Poultry
- Ruminants
- Swine
- Aquatic Animals
- Others (Equine & Pets)
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