The global animal
feed enzymes market has a highly consolidated vendor
landscape, says Transparency Market Research, in a recently published report.
Azelis Holdings, Novus International, Bio-Cat, Rossari Biotech, and Associated
British Foods are the top companies working in the global animal feed enzymes
market.
A key strategy deployed
by players in the global animal feed enzymes market to outshine their rivals is
proxuct development. They are seen focussing hard on product differentiation
and expansion of product portfolio to steal a march over competitors.
Regulating costs with delivering quality products is a key strategy of most
businesses present in the global animal feed enzymes market.
According
to experts from Transparency Market Research, the global animal feed enzymes
market is expected to gain revenue worth US$100 mn by the end of 2026. Experts
project this growth to occur at a fantastic CAGR of 10.10% during the forecast
period from 2017 to 2026.
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Among
the various key products in the market, growing demand for carbohydrase is
expected to boost the global animal feed enzyme market. This is because
cabohydrase intake helps in improving digestion and nutritional absorption.
Geographically, North America is leading the global animal feed enzyme market
as the region has seen rising demand for quality meat products.
Rising Incidence of Food Borne Diseases Fillips Animal
Feed Enzymes Market
Growing incidence of
zoonotic diseases such as avian flu, increasing cases of various food borne
diseases, and rising mortality rate of animals are believed to be driving the
global animal feed enzymes market. European Food Safety Authority have declared
that around 220,000 cases of zoonotic diseases such as campylobacteriosis and
food borne diseases in 2012. Thus, the growing demand for adequate phytogenic
nutrients, amino acids, and probiotics for animal health benefits is boosting
the global animal feed enzyme market.
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Furthermore, many
manufacturers are adopting nanotechnology to boost the drug absorption and
digestive capacity in the livestock. This helps in producing better quality
meat, expanding the lifespan of animals, and reducing the chances of developing
diseases. There are many animal feed enzymes available in the market, namely
proteases, carbohydrases, and phytase. These enzymes help in maintaining animal
health, digestability, hygiene, and also intestinal health. Rising awareness
among customers regarding meat quality, food safety, growing demand for high
quality meat products, and increasing adoption of ready-to-eat and frozen food
products are projected to propel the global animal feed enzyme market.
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Cost-sensitive
Market Hinders the Growth in Global Animal feed Enzyme Market
A few challenges
hindering the growth of the global animal feed enzymes market is
cost-sensitivity of production of animal feed enzymes, and less choices in the
area of innovating new products. Nonetheless, increasing demand for quality
dairy products and foods are expected to help overcome some of these challenges
in the near future.
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