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Ruminants Livestock segment of Animal Feed Enzymes Market will be worth over USD 450 million by 2024

Author : Rahul Sankrityayan | Published Date : 2019-03-19 

Improving nutrient content, energy utilization, and livestock health are the key properties enhancing the product demand. Large presence of fibers altering the gut viscosity increases the overall livestock efficiency. Animal Feed Enzymes Market size is estimated to exceed USD 2 billion by 2024; according to a new research report by Global Market Insights, Inc.
 
Shifting consumer focus on animal nutritional intake for high quality meat due to its enhancing biological properties will drive the animal feed enzymes market growth. Increase in global meat consumption boosted the overall livestock husbandry. Global average meat consumption was over 75 pounds in 2016.

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Increasing consumer preference for processed meat and dairy products along with proliferating hypermarkets & supermarkets will support the industry growth. Rising awareness pertaining to fodder quality coupled with competitive prices are the key factors fueling the product demand.

Inclination towards animal feed enzymes over antibiotic growth promotors due to stringent government regulations will propel the industry demand.  In addition, animal feed enzymes aid in lowering amount of livestock wastes. This helps to bring down the phosphorus and nitrogen content in excreta, thus positively impacting environment by reducing pollution.

European animal feed enzymes market size will worth over USD 860 million by 2024. Germany and Spain hold largest livestock production across the Europe. Presence of strong end use industries coupled with efficient distribution network is the key growth factor for product demand. Russia is expected to portray fastest growth owing to increasing livestock production along with increasing pork consumption.

Growing concerns about disease outbreak in livestock and meat quality is expected to fuel animal feed enzymes market size. The Food and Drug Administration (FDA) in the U.S. enacted regulations to promote safety of livestock fodder, pet food and medicated forage. Further, steep product prices, owing to high raw material cost will hamper market growth.

Global animal feed enzymes market share was led by poultry, accounting for more than 40% in 2016. Minimizing antinutritive components and improving energy value of fodder promotes the weight gain in poultry.

Phytase animal feed enzymes market is anticipated to grow around 6.5% up to 2024. High phosphorus content improves livestock metabolism and reproduction. Additionally, increasing fodder consistency and enhancing livestock production will drive the industry growth.

Protease market was valued over USD 150 million in 2016. Increasing product consumption as protein digesting molecule is gaining high importance particularly in poultry and pigs. Enhancing proteins that bind starch within forage ingredients makes more of starch energy available to the livestock.

Dry animal feed enzymes market size is estimated to register over 60 kilotons by 2024. Superior thermal stability in fodder processing, ease of handling and advanced enzyme activity has increased product preference over liquid based additives. Dry formulation is available in pellet and powder form.

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Asia Pacific is the fastest growing region with 7.5% CAGR up to 2024. Rising meat consumption, increasing disposable income along with awareness about livestock diseases are the key factors driving the animal feed enzymes market.

Global industry share is highly competitive due to presence of regional and local manufacturers. Some of the key industry participants are BASF, Danisco, Rossari Biotech, Beldem, Alltech, Shenzhen Leveking Bio-Engineering, Adisseo AB Vista, Novozymes and Kemin.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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