Feed Enzymes Market: Challenges and Growth Opportunities

Northbrook, IL, USA, 2019-Nov-4 — /EPR Network/ —

The feed enzymes market is projected to grow at a CAGR of 9.3% from 2017, to reach a projected value of USD 1,428.6 Million by 2022. The replacement of expensive fish meal with feed enzymes, and rising awareness about feed quality present feed enzyme providers with lucrative opportunities in the feed enzymes market in the next five years.

How the increasing need for nutrition-dense fish feed is creating growth opportunities for manufacturers in the feed enzymes market?

The growth in the production of aquaculture and expansion in the cultivation area is increasing the demand for aquaculture feed. Fish meal is one of the most critical and expensive ingredients in aquafeed production. The content of fishmeal in commercial aquafeed ranges from 30%–50%; however, fish meal is scarcely available making it a costly ingredient. The increasing cost of fishmeal has encouraged feed manufacturers to search for cheaper alternative protein sources, such as plant proteins. Hence, since the last few decades, the aquaculture industry has been trying to improve the nutritional value of fish feed by supplementing it with enzymes, to find suitable alternatives to fish meal.

Feeding enzymes to shrimps and fishes has been one of the major nutritional advances in the aquaculture sector since the last few years. Exogenous enzymes are now extensively used throughout the world as additives in animal diets. Supplementation with enzymes can help to eliminate the effects of anti-nutritional factors and improve the utilization of dietary energy and amino acids, resulting in improved performance of fish/shrimps. Also, feed enzymes are natural products of fermentation, which eliminates the threat of adverse impact of chemicals on fish and pond environment. Enzymes also reduce the problems related to high phosphorus output in pond environments by reducing ammonia levels in pond water. These benefits have resulted in the growing demand for feed enzymes in the aquaculture sector.

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How are the changes in climatic conditions posing challenges for manufacturers in the feed enzymes market?

Climatic conditions affect enzymatic reactions and their activities. Optimum temperature is required for the enzymes to work effectively. A decrease in temperature causes the reaction rate to drop drastically, while thermal agitation denatures the feed enzymes (deteriorates the feed enzymes structure), thereby leaving it non-functional. Also, factors such as pH outside the operational range reduce enzyme activity and can ultimately lead to permanent denaturation. Feed enzyme manufacturers are striving to produce enzymes that can operate in a wide temperature and pH range; however, there is still a long way to go before an enzyme can be used in all food & beverage manufacturing processes.

Increasing investments in R&D capabilities of the key players for innovating new feed enzyme products, along with the increased expenditure on innovating new and cost-effective production processes of feed enzyme products is expected to change the business landscape in the next five years.

On the basis of type, the protease segment is projected to be the fastest-growing segment during the forecast period. The use of protease as a feed enzyme helps farmers save on feed costs. This has encouraged feed manufacturers to use protease in feed in the recent years.

On the basis of livestock, the aquatic animals segment was estimated to be the fastest-growing segment during the forecast period. The increasing demand for fish protein among consumers and increasing costs of fishmeal in the aquaculture market have led to higher usage of enzymes in the aquafeed industry.

Liquid is the more widely used form of feed enzymes in the global market, as compared to their dry counterparts. This form is also projected to be the faster-growing segment in the forecast period. It is the most convenient, economical, and effective way of adding enzymes to animal feed. Such benefits have opened new opportunities for the feed enzymes industry.

Microorganism dominated the feed enzymes market in 2016, in terms of source; it is projected to grow at the highest rate from 2017 to 2022. The microorganism is the most widely used source in the feed enzymes from the past years. There has been increasing the demand for enhanced and multipurpose enzymes in the animal feed. This has encouraged feed manufacturers to involve the latest technology, such as metagenomics and genomics, during the manufacturing process. Such factors drive the microorganisms segment.

The fastest-growing market for feed enzymes is projected to be Asia-Pacific, between 2017 and 2022. This is the world’s dominant region for swine, layer, broiler, and aqua feeds. These trends indicate that the feed enzymes market is also consequently influenced and has a great scope of development in the coming years. Increase in population, rise in disposable incomes, progressive urbanization in the Asia-Pacific region, and increase in demand for quality meat products have spurred the demand for feed enzymes in the region.

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Prominent players in this market are BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (Netherlands), and Adisseo France SAS (France). Other significant players include Azelis Holdings SA (Belgium), Rossari Biotech Ltd (India), BIO-CAT (U.S.), and Alltech Inc. (U.S.). These players have adopted various strategies such as new product launches, expansions, and acquisitions and entered into agreements with leading and other local companies, so as to strengthen their geographical reach in the feed enzymes market. The major opportunities in the feed enzymes market include the replacement of fish meal in animal feed due to its increasing prices and rising awareness among animal farmers about feed quality. These opportunities have encouraged the feed manufacturers to use enzymes in feed and manufacture new & better-quality feed enzyme products to add value to animal health and nutrition.

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