Global Feed Enzymes Market: Supply Market Intelligence
The acceptance and usage of feed enzyme technology have increased in the United States over the past two decades. Feed enzymes are integral to increase the nutritional value of feed ingredients, reduce feed costs, and improve the environment while maintaining or improving animal performance. Enzymes are chemicals or catalysts released by cells to the increase the speed of specific chemical reactions. Enzymes are released in the digestive tract to aid in the digestion of food. Today, these enzymes can be effectively manufactured and added to animal feeds in the form of feed enzymes. Typically, three classes of enzymes (phytases, carbohydrase, and proteases) are considered for use in poultry feeds. (Source: Global Feed Enzymes Procurement Market Intelligence Report) Energy is a highly expensive nutrient in the diet and adding xylanase, amylase, and protease enzymes to poultry feed helps producers cut down on the feed costs.
APAC, North America, and Europe are the major feed enzymes markets owing to the growing preference for meat and meat-based fast food among consumers. In APAC, China, India, Japan, and Vietnam are the major markets for feed enzymes. Rapidly improving the purchasing power of the population, growing population, the rise in demand for protein-rich meat diets coupled with the increasing need to reduce the cost of feeds are driving the demand for feed enzymes in these countries. Furthermore, the presence of an established livestock industry and growing emphasis on reducing environmental pollution caused by meat production are augmenting the growth of feed enzymes in North America, which is the largest market for feed enzymes.
Rising stringency of food safety regulations and increasing investments in R&D initiatives are likely to drive the prices of feed enzymes. Furthermore, the rising stringency and complexity of these regulations increase the regulatory compliance cost of suppliers. Moreover, the growing intensity of market competition has compelled suppliers to increase the spend on marketing and R&D initiatives; thereby, differentiating their product portfolio and enhancing brand loyalty among end-consumers.