Combined share of a few top players in the global animal feed enzymes market is significant enough. This makes the market somewhat consolidated. Novozymes, Azelis Holdings SA, E.l. Du Pont de Nemours and Company, Lesaffre, Rossari Biotech Ltd, BASF SE, Novus International Inc., Associated British Foods plc, Bio-Cat, and Alltech Inc. are to name a few such leading players in the animal feed enzymes market.
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A report by Transparency Market Research on the global animal feed enzymes market finds that savvy players are embarking upon partnerships and collaborations to surge ahead. As per the report, the market would likely rise at an impressive CAGR of 7.8% over the course of the forecast period starting from 2017 and ending in 2026. Rising at this pace, the revenue in the market would likely reach US$100 mn by end of 2026, projects the report.
Some of the key products available in the animal feed enzymes market are carbohydrase, phytase, and proteases. Among them, the segment of carbohydrase is expected to generate maximum revenue in the market. This is because of their rising uptake on account of their ability to improve nutrient absorption and digestion. From a geographical standpoint, North America is a key animal feed enzymes market. The rising thrust on quality meat and meat products is having a positive impact on demand in the region.
At the forefront of driving the global animal feed enzymes market is the increasing instances of zoonotic diseases and food borne diseases. The European Food Safety Authority (EFSA) predicts 320,000 cases of the food borne and zoonotic diseases to occur annually in the EU countries. Such a scenario is expected to drive up sales of gut-friendly additives such as phytogenic nutrients, amino acids, and probiotics.
Another factor having a positive influence on the animal feed enzymes market is the thrust by retail chains, particularly in developed nations of the U.K., the U.S., the Netherlands, and Australia, in having safe and quality meat products on their shelves. Besides, awareness among consumers with respect to quality products is also expected to have a positive impact on the market.
A noticeable trend in the animal feed enzymes market is the uptake of nanotechnology by manufacturers to improve production of animal feed enzymes. Elaborates the lead analyst of the TMR report, “Manufacture of animal feed enzymes using nanotechnology helps to boost absorption and digestive capacity in the livestock. In addition, nanotechnology aids in creating cutting-edge, innovative drug delivery systems, which enables in having medicated feed additives that could contain small dosage of antibiotics, among other things. Such innovations are expected to positively impact the global animal feed enzymes market.”
Other factors serving to promote the animal feed enzymes market are significant investments in aquaculture because of the rising adoption of fish as a staple food. Surging consumption of pork in countries, namely China and Germany, is also expected to boost demand in the market in the next couple of years.