The growth graph of the global animal feed enzymes market is expected to display an upward trend in the coming years, due to the increasing preference of the people for nutritious diet along with a considerable rise in the disposable incomes, especially among the developing nations. In a report by the Government of Australia, the global consumption of meat increased to reach 360 million tons in the country by 2018.
With an evident increase in the consumption of animal by-products, there is a growing need to adopt sustainable solutions to enhance the feed manufacturing activities, which is likely to support the demand for the enzymes.
Another major factor supporting the demand for animal feed enzymes in the growing outbreak of various animal diseases which has propelled the need for safe animal feed additives. The implementation of strict regulations regarding food safety has encouraged the market players to adopt advanced manufacturing solutions.
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For instance, in Canada, animal feed enzymes are regulated by the Canadian Food Inspection Agency (CFIA), and those enzymes approved by CFIA are listed in Schedule IV of the Feeds Regulations and are referred to as enzyme supplements.
Wide adoption rate of dry formulation feed enzymes
Dry formulation animal feed enzymes have gained considerable recognition as compared to the liquid formulation. This is due to their ability to sustain extreme temperatures in fodder processing, easy handling, and better thermal stability. The wide availability of the product in both pellet and powder form is a prominent driving factor.
The powdered products easily break into soluble amino acids, offering easy digestibility and a high absorption rate in animals. They enhance the uptake of nutrients along with growing availability in feed products further supporting the development in the market.
Expanding dairy industry across Asia Pacific
Regionally speaking, Asia Pacific has emerged as a key consumption belt for feed products primarily due to the rising consciousness among the people regarding livestock diseases, along with the rapidly flourishing dairy industry in countries like India, China, Japan, and Thailand. According to a report by FICCI, From 2018 to 2019, the milk production in India stood at nearly 176.4 million tons, which constituted 20% of the world’s milk production.
High demand for phytase enzymes
Concerning the type of product, animal feed enzymes market is categorized into carbohydrase, phytase, non-starch polysaccharides, and protease.
Phytase feed enzymes constitute a major market share due to their high phosphorous content which improves the digestion and reproductive capabilities of the livestock. These are mainly created by microbes that are found in the gut of dairy cattle and sheep, making it a viable option to use the phytic acid found in grains as a vital source of phosphorus.
Competitive market environment
Animal feed enzyme companies are constantly working towards improving the quality of the offering to meet the vast product demand from both developed as well as developing companies. These participants are entering into strategic alliances, collaborations, and signing merger deals to increase their product portfolio and to expand their geographical presence.
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In April 2019, Germany based Brenntag Group’s North American Food and Nutrition business unit had inked an agreement with AB Enzymes for the distribution of its enzymes across the United States and Canada. Other key market players include BASF, DuPont, Lonza Group, Royal DSM, and Azelis Holdings SA, to name a few.
In a nutshell, various factors like the growing safety concerns among the consumers regarding the consumption of meat as well as the adoption of sustainable enzyme production techniques have driven the growth trends in animal feed enzymes industry.
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