The feed enzyme market has been forecast to increase at a compound annual growth rate (CAGR) of 7.3% over the next five years, increasing from a valuation of $781.7 million in 2012, to hit a market value of $1,193.0 million by 2018.
Animal feed enzymes are substances that are not natural feedstuffs and are added to made-up and stored feeds for various purposes, such as to control infectious disease in animal, promote growth, and enhance feed digestibility.
Feed enzymes accelerate the biochemical reactions in animals in order to support life. These enzymes are added to pig, poultry, cattle and aquaculture to enhance the production efficiency.
The major function of feed enzymes is to increase the digestibility of animals; like phytase is used in the animal feed to break down the protein consumed by the animals which enhances their digestibility. Some enzymes improve the fat absorption and starch digestibility that adds to the well-being of animals and reduces the mortality.
The feed enzyme market is growing at a steady pace and offers a promising future due to increasing demand for meat and meat products. Feed enzymes are becoming an important part of feed for animal growth and nutrition. Many animals cannot digest 15-25% of the feed that is consumed. This is because the ingredients consist of anti-nutritional factors that are hard to digest.
The global market is dominated by the European region, accounting for a 46% share in 2012. Government regulations and technological advancements for feed enzymes exposed the European market to the various benefits and advantages of enzymes. A high rate of adoption of phytase by manufacturers will drive the North American market to grow at a healthy CAGR of 7.1% from 2013 to 2018.
The feed enzymes market is dominated by four key players, AB Vista (U.K.), Novozyme (Denmark), Addiseo, (France), and DuPont (U.S.). These four companies together held 87% of the total market in 2012. Novozymes, the biggest player within the feed enzyme industry, has been increasing its production capacity steadily over the last few years.
For more information on the feed enzyme market, see the latest research: Feed Enzyme Market
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