ALBANY, New York, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Increasing production of livestock including pigs, fish and poultry has led to a surge in demand for the animal feed enzyme globally. In addition, prevalence of the food-borne diseases is further projected to impact the global market growth of animal feed enzymes positively. Transparency Market Research states that the global animal feed enzymes market is projected to reflect a CAGR of 7.8% over the forecast period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global animal feed enzymes market is mainly bound to various macro-economic and micro-economic factors. Increasing demand to keep the metabolism rate and energy values intact has led to a surge in demand for the animal feed enzymes in the global market. Surge in demand to improve the quality of the product will further continue to rev up consumption of the global market.
Prevalence of the food-borne disease will continue to impact the global market growth of animal feed enzymes significantly. Zoonotic diseases including avian flus has revved up sales of the animal feed additives. For example, the EFSA (European Food Safety Authority) has predicted that around 320,000 cases of the food-borne diseases and zoonotic diseases occur each year in the European Union countries. In 2012, nearly 220,000 people in the European Union countries were majorly affected with zoonotic disorders including campylobacteriosis. This has led to a surge in demand for the animal feed additives including amino acids, phytogenic nutrients and probiotics is projected to increase bound to healthy benefits.
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Increasing number of retail chains are supplying meat products in various developed markets such as Netherlands, Australia, U.S. and U.K. The retail chains in these countries have elevated their quality and safety standards before offering the products to the customers. Growing awareness among the end users regarding the quality standards of the meat products and the safety measures is projected to impact the global market growth of animal feed enzymes.
Moreover, manufacturers are increasingly concentrating adopting nanotechnology for enhanced product development. Animal feed enzymes produced through adoption of the nanotechnology boosts the drug absorption and digestive capacity in the livestock. Moreover, this technology helps in development of advanced and innovative drug system that enables the end users to supplement medicated feed additives including antibiotics in small quantity. These factors will further contribute towards the global market growth of animal feed enzymes over the forecast period.
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Surge in collaborations and strategic partnerships among the manufacturers is projected to expand across the supply chains globally over the forecast period. Increasing investment in the aquaculture will continue to impact the global market growth of animal feed enzymes attributed to increasing demand for fish as staple food. Such factors are projected to rev up demand for the animal feed enzymes in the global market.
Sales for Carbohydrases to Remain High
Demand to improving nutrient uptake and digestion process has led to a surge in demand for the carbohydrases globally. Based on product type, the proteases segment is projected to register a robust CAGR throughout the forecast period. However, the the carbohydrases product type segment is projected to witness the highest revenue growth, representing more than US$ 200 Mn by 2026-end.
In terms of revenue, the dry form segment is projected to represent the highest revenue growth, accounting for more than US$ 200 Mn by 2017-end. In addition, this segment is projected to reflect a significant CAGR over the forecast period.
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Market Players
Major players in the global market of animal feed enzymes are BASF SE, Novozymes, Associated British Foods PLC, E. I. Du Pont De Nemours and Company, Novus International, Inc., Azelis Holdings SA, Bio-Cat, Rossari Biotech Ltd, Lesaffre and Alltech Inc.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.