Animal feeds are key investment areas in animal culture sector, accounting for 3/5th of overall production expenses. Conventional antibiotics pose the risk of adversely affecting food chain, as such, the EU (European Union) has enacted ban on application of antibiotics as growth promoters in animal feed industry. Feed enzymes have emerged as an ideal alternative for improving feed digestibility, and production capacity of livestock. In addition, manufacturers are focusing on development of species-specific feed enzymes aiding animals throughout their lifespan.
Owing to increasing production of poultry and fisheries, feed enzymes market of North America and Asia Pacific exclusive Japan (APEJ) are set to generate worthwhile returns. Further, FMI’s new business intelligence study reveals that global feed enzymes market is estimated to reach ~US$ 1 Bn in 2019, and is anticipated to grow at a healthy CAGR over forecast period (2019 – 2027).
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Carbohydrase- and Protease-Based Feed Enzymes Leading the Way
FMI reveals that carbohydrase-based feed enzymes will remain sought-after feed material over period of projection. Carbohydrase-based feed enzymes aid in increasing energy content efficiently from feed ingredients. Carbohydrase enzymes, including amylase, support digestion of starch present in corn. Further, xylanase is majorly used in wheat-based compound feeds for poultry to tackle anti-nutritional properties of NSP (Non‐Starch Polysaccharides).
On the other hand, protease-based feed enzymes are expected to showcase fastest demand growth, finds FMI. Protease breaks down protein-bound starch within feed material. In addition, they are helpful in eliminating protein anti-nutrients present in ingredients, such as soybean meal.
Demand Upsurge in Poultry Farming and Aquaculture
Demand for feed enzymes will be significant from poultry farming and aquaculture on back of reduced feed cost, and efficient usage of raw materials. Studies suggest that consumption of animal protein is expected to grow within next two decades, primarily represented by poultry and eggs. Further, players are targeting poultry market of Japan and South Asian countries owing to increasing production of broilers.
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Rising fisheries and farming practices are fueling the demand for feed enzymes in aquaculture, suggests FMI. The market of fish farming is projected to grow at promising rate. In addition, aquaculture runners are leveraging sustainable farming techniques in order to curb overutilization of fishery resources, thereby boosting the demand for feed enzymes.
Analysts at FMI suggest that “Application of antibiotics conventionally at therapeutic stages are resulting in concerns regarding their adverse effects on overall food chain. Manufacturers are turning to alternative materials, such as feed enzymes, that enhance livestock efficiency in tandem with reduced environmental degradation.”
Feed Enzymes Market Structure Analysis
- The global feed enzymes market is consolidated and is characterized as highly organized in developing and emerging economies. Key players operating in the global feed enzymes market are focusing on product launches to expand their customer base. These product launches are a result of significant investments in robust research and development facilities by feed enzyme manufacturers.
- To maintain its position in the global feed enzymes market, BASF SE focuses on product development through research and development for enabling livestock growers to gain feed high-quality inputs. In 2016, the company invested US$ 2,206.92 Mn on its R&D facility.
- Prominent players in the feed enzymes market are also investing in strategic collaborations, mergers, acquisitions, and partnerships.
- In 2014, DuPont signed an agreement to purchase Dyadic’s C1, a fungal expression technology for producing enzymes. This transaction is anticipated to enhance the world-leading biotechnology capabilities of DuPont’s industrial biosciences business.
- In August 2017, Cargill Inc. acquired Southern States Cooperative’s animal feed business to enhance its global presence in the eastern United States.
- Key players in the global feed enzymes market are presently targeting developing regions, including the Asia Pacific and Latin America, to expand their geographical presence.
- In 2016, BioResource International, Inc., signed an agreement with Connell Bros. Co., LLC (CBC), a Wilbur-Ellis company, for distribution and marketing of selected feed enzyme products in Thailand, Vietnam, Indonesia, and Myanmar.
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Feed Enzymes Market Segmentation
Form
- Dry
- Liquid
Product
- Phytase
- Carbohydrase
- Protease
Animal
- Poultry
- Ruminants
- Swine
- Aquatic Animals
- Others (Equine & Pets)