Penetration of organized retail sector coupled with increasing demand from livestock producers drive the market with a steady growth rate of 6.7%
Hyderabad, India -- (SBWIRE) -- 01/29/2018 -- The report on " Feed Enzymes market by type of ingredient (Carbohydrase, Phytase, others), by type of animals (Ruminant, Swine, Poultry, Aquaculture and other), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)" is published by Market Data Forecast. The Global Feed Enzymes market was priced USD 85.5 Billion in 2016 and calculable to be growing at a CAGR of 6.7%, to achieve USD 118.25 Billion by 2021, within the mentioned forecast period from 2016 to 2021.
Enzymes are natural proteins produced by all animals as a part of their feed digestion method. Enzymes are formed and produced by the animal bodies to digest carbohydrates, lipids, proteins and alternative mineral complexes. Industrial enzymes that are termed as exogenous enzymes are used to enhance the process of digestion. The key end customers of the feed enzymes are farmers and compound feed makers. Feed enzymes are added in animal nutrition to increase the utilization of energy and nutrients to the animal. Usage of enzymes improves profit of stock farmers and additionally reduces the environmental pollution.
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The major drivers of the Global feed enzymes market are the rise in world population and also increase in demand for healthy meat product due to increasing the concern over livestock disease occurrence and worry about the atmosphere. Penetration of organized retail sector is also a significant driver boosting the market. However, doubts about the efficacy of the product and strict regulatory approval process are hindering the market growth.
However, rising cost of essential raw materials and high volatility of agricultural commodities are major restraints of the market. Feed enzymes once utilized in higher quantities are found to own negative effects because of that the demand would possibly fall, impeding the market growth.
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The fragmentation of Global Feed Enzymes market is done on the basis of Ingredient and animal type. The Ingredients segment of Global Feed Enzymes market is again subdivided into Phytase, Carbohydrase, and others. The Animal Type segment of the market is again classified as Aquaculture Ruminant, Poultry, and Swine, others. A poultry and swine segment consists of the majority of feed enzyme market share which was followed by ruminants. Carbohydrase is that the most generally used enzymes.
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On the principle of geographical analysis, the worldwide feed enzymes market is classified into varied regions namely Middle East, North America, Europe, Latin America, and Asia-Pacific, Africa. Europe is the largest market with poultry being the biggest section. Asia-Pacific is that the quickest growing market with a share of about 27%.
Major players are investing in fixing new plants and mergers & achievement in foreign markets for business expansions. Major corporations within the market are Shenzhen Leveking Bio-Engineering Co. Ltd, Adisseo France, Chr. Hansen Inc, Novozymes, Rossari Biotech Limited, Advanced Enzymes Technologies Limited, Alltech, Lesaffre Group, DSM, PURATOS GROUP, AB Enzymes GmbH, Amano Enzyme Inc, Sunson Industry Group Company Limited, Bio Vet JSC, BASF Corporation, Biocatalysts Ltd, DuPont, Enmex SA De CV.
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