The Enzymes are natural proteins secreted by all animals as part of the feed digestion process. Enzymes are formed and secreted in the body to digest carbohydrates, lipids, proteins, and other mineral complexes. Commercial enzymes also termed as exogenous enzymes. These are used to enhance the natural process of digestion. The Global Feed Enzymes market is projected to reach USD 134.62 Billion by 2023, at a CAGR of 6.7% during the forecast period from 2018 to 2023.
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Drivers and Restraints:
The increase in global population and a rise in demand for healthy meat products due to increasing concern over livestock disease outbreak and concern for the environment are the major drivers of the market. Penetration of the organized retail sector is also a major driver boosting the market. The Complex Regulatory Environment is restraining the growth of the market due to doubts about the efficacy of the products and consequently late regulatory approvals. Rising cost of imported raw materials and price volatility of agricultural commodities are major restraints in the market. Feed enzymes, when used in higher quantities, are found to have negative effects due to which the demand might fall, hindering the market growth.
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Geographically Global Market for Feed Enzymes is divided into North America, Europe, Asia-Pacific, Latin America and, Middle East and Africa. Europe is the largest market with poultry being the largest segment. Asia-Pacific is the fastest growing market with a share of 27%.
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The Major investing companies in the market are DuPont, DSM, BASF Corporation, Alltech, Novozymes, and Adisseo France. Other Major players in the market are AB Enzymes GmbH, Advanced Enzymes Technologies Limited, Amano Enzyme Inc. Bio-Vet JSC, Biocatalysts ltd, Chr. Hansen Inc, Enmex Sa De Cv, Lesaffre Group, PURATOS GROUP, Rossari Biotech Limited, Shenzhen Leveking Bio-Engineering Co. Ltd and Sunson Industry Group Company Limited.
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The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis of prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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