Market Size of feed enzymes Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 1.38 Billion |
|
|
Market Size (2029) | USD 1.76 Billion |
|
Largest Share by Sub Additive | Carbohydrases |
|
|
CAGR (2024 - 2029) | 5.04 % |
|
Largest Share by Region | Asia-Pacific |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Feed Enzymes Market Analysis
The Feed Enzymes Market size is estimated at 1.38 billion USD in 2024, and is expected to reach 1.76 billion USD by 2029, growing at a CAGR of 5.04% during the forecast period (2024-2029).
1.38 Billion
Market Size in 2024 (USD)
1.76 Billion
Market Size in 2029 (USD)
5.33 %
CAGR (2017-2023)
5.04 %
CAGR (2024-2029)
Largest Market by Sub-Additive
46 %
value share, Carbohydrases, 2023
It has the largest market share due to its ability to increase the energy or starch intake from cereal feed and increase the intake of protein and minerals from animal feed.
Largest Market by Region
31.57 %
value share, Asia-Pacific, 2023
The Asia-Pacific region is the largest because of increased feed production, per capita meat consumption, and high feed additives adoption rates.
Fastest-growing Market by Sub-Additive
5.09 %
Projected CAGR, Carbohydrases, 2024-2029
It is the fastest-growing segment as it helps reduce the feed cost by providing adequate nutrients during high prices of cereals and high demand for high-quality beef.
Fastest-growing Market by Region
5.92 %
Projected CAGR, North America, 2024-2029
Globally, North America has witnessed the fastest growth due to an increase in the demand for high-nutritional meat and an increase in the commercial rearing of animals.
Leading Market Player
13.17 %
market share, DSM Nutritional Products AG, 2022
DSM Nutritional Products AG is the market leader as it has focused on expanding its product portfolio through a partnership with Novozymes to manufacture new enzyme products.
- The global feed enzymes market is experiencing rapid growth due to the crucial role that enzymes play in increasing energy and nutrient intake from animal feed. Cereals, in particular, benefit from using enzymes, as they can increase starch intake in animals, which is especially useful when cereal prices are high. Despite their importance, the feed enzymes market accounted for only 3.8% of the global feed additives market in 2022.
- Asia-Pacific is the largest market for feed enzymes, accounting for 31.6% of the global market share in 2022. North America and Europe followed closely, accounting for 25.8% and 23.1% of the market share, respectively. The high market share in Asia-Pacific is attributed to higher penetration rates of feed additives and a higher animal population.
- Carbohydrases are the most widely consumed feed enzyme, with a market value of USD 576.5 million, due to their ability to increase the energy and starch intake from cereal feed. Carbohydrases are expected to be the fastest-growing feed enzyme, with a CAGR of 5.1% during the forecast period. Phytases are also expected to record a CAGR of 4.9% during the forecast period.
- Proteases and lipases are other enzymes that are significantly used to increase protein digestibility and utilization by animals. The demand for meat products is expected to increase the market for these enzymes, with a CAGR of 5.0% during the forecast period.
- The market for feed enzymes is expected to grow and register a CAGR of 5.0% during the forecast period, driven by the growing commercial cultivation of animals for dairy and meat products, along with increasing awareness of the importance of feed enzymes in animal feed.
Understand The Key Trends Shaping This Market
- Feed enzymes are critical in increasing the intake of energy, starch, and phosphorus from animal feed. In the case of cereals, feed enzymes increase the starch intake of animals, which is beneficial when cereal prices are high. Despite their importance, the feed enzymes market accounted for only 3.8% of the global feed additives market in 2022.
- Asia-Pacific is the largest regional segment in the global feed enzymes market, accounting for USD 395.9 million in 2022 due to the higher penetration rates of additives and animal cultivation in the region. However, the United States is the largest country-wise segment for the global feed enzymes market, accounting for USD 225.8 million in 2022, or about 18.0% of the market share, due to highly developed production practices and commercial animal cultivation.
- China, with a 13.8% market share, is the second-largest country in the feed enzymes market, with its share increasing by 38.2% from 2017 to 2022. The United States is the fastest-growing country and is expected to record a CAGR of 6.3% during the forecast period (2023-2029) due to its high utilization of feed additives to improve productivity.
- With the growing concerns over rising productivity, the growing global population, and increasing urbanization, an increase in the consumption of meat and dairy products is expected to drive the global feed enzymes market with a CAGR of 5% during the forecast period (2023-2029). This growth will be driven by the need to improve animal health, increase the nutritional value of animal feed, and enhance animal productivity.
