New York
City, 28 January 2019: The global Animal Feed Enzymes Market size is expected to
reach USD 1.88 billion by 2026 and is estimated to grow at a CAGR of 7.3 % from
2018 to 2026. The market is anticipated to grow significantly over the forecast
period owing to factors such as rising cost of feedstock, increasing meat consumption
and rising pressure to increase the overall animal yield. The market is also
anticipated to grow due to the rising awareness regarding the benefits of
animal feed enzymes particularly in emerging regions such as Asia Pacific.
These
additives result in the maintenance of proper overall health of animals. They
result in the improvement of digestion of essential nutrients such as proteins
as well as increase in the availability of amino acids. They also offset the
negative effects of undigested nutrients in the gut health. Such trends are
benefitting the overall market growth.
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Grains which
are normally utilized in the production of animal feed such as barley, corn and
wheat have hard coating which does not completely break even during the milling
process. The coating is indigestible. However, these additives result in the
degradation of these cover molecules thus aiding the overall digestive process
of animals as well as the proper maintenance of gut health.
Meat is
considered as an essential part of the diet as it incorporates many valuable
nutrients that are highly beneficial for health. Meat and meat products contain
protein, micronutrients, and minerals that are beneficial for growth and
development. Moreover, meat processing offers improved food safety, reduced
price, and extended shelf life. Rising demand of meat across the globe is
expected to favorably benefit the market growth.
Growing
population coupled with rising incomes has increased the demand for meat.
However, at the same time, it has left limited space for livestock expansion.
There should be an optimal usage of existing food resources. Usage of animal
feed enzymes results in a rise in immunity of the livestock thus reducing the
death caused due to the various diseases.
Competitive Landscape and Key Vendors:
Asia Pacific
is the most lucrative regional market, where the latest demand has been
supported by rising demand of the developing countries, primarily of Southeast
Asian region and Indian Subcontinent. China, Japan, Western Europe, and the
United States are some of the countries contributing significantly for the
industry growth.
Companies
are concentrating on the developing regions such as Asia Pacific to gain
maximum share in the animal feed enzymes market. BASF and Biomin announced the
launching of a new phytase product for the Vietnamese feed industry. Some of
the major market players for Animal Feed Enzymes include Chr. Hansen Inc, BASF
Corporation, Bio Vet JSC, DuPont, Enmex SA De CV, Adisseo France, Alltech,
Novozymes, AB Enzymes GmbH, Advanced Enzymes Technologies Limited, and Lesaffre
Group.
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