Enjoy complimentary customisation on priority with our Enterprise License!
The animal feed enzymes market share is expected to increase by USD 501.59 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.07%.
This animal feed enzymes market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers animal feed enzymes market segmentation by form (dry and liquid) and geography (APAC, Europe, North America, South America, and MEA). The animal feed enzymes market report also offers information on several market vendors, including AB Enzymes GmbH, Aumgene Biosciences, BASF SE, Chr. Hansen Holding AS, Enmex, International Flavors and Fragrances Inc., Koninklijke DSM NV, Novozymes AS, Novus International Inc., and Specialty Enzymes and Probiotics among others.
Download the Free Report Sample to Unlock the Animal Feed Enzymes Market Size for the Forecast Period and Other Important Statistics
The rise in global meat consumption is notably driving the animal feed enzymes market growth, although factors such as the increasing popularity of vegan diets may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the animal feed enzymes industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Animal Feed Enzymes Market Driver
One of the key factors driving the global animal feed enzymes market growth is the rise in global meat consumption. The global per capita consumption of meat has grown at a steady rate in the past decade. According to the Organisation for Economic Co-operation and Development (OECD), the global production of meat (beef, poultry, and pork) in 2021 was 340 million tons compared to nearly 248 million in 2018. The poultry segment experienced the highest growth, which increased by approximately 16% between 2010 and 2020. Factors such as the rise in the population and increase in consumers about their protein intake in their daily diet will further boost the demand for meat, which will positively impact the market growth during the forecast period.
Key Animal Feed Enzymes Market Trend
Another key factor driving the global animal feed enzymes market growth is the product launches by regional as well as international players. For instance, in October 2021, Cargill launched its poultry feed with essential oils for healthy flocks and maximized egg production. Nutrena NatureWise formulas boost the overall wellness, happiness, and productivity of chickens. Manufacturers of animal feed enzymes are encompassing innovative and distributive strategies to increase the market size of these products. Furthermore, technical innovations by manufacturers are estimated to further drive the market growth during the forecast period.
Key Animal Feed Enzymes Market Challenge
One of the key challenges to the global animal feed enzymes market growth is the increasing popularity of vegan diets. Many young consumers in the age group of 15-30 years are opting for vegan diets. The number of people opting for vegan diets has increased by about 300% over the last decade. Food service outlets are also encouraging the growth of veganism and are adding options such as veggie cheese and vegetarian beverages to their menus to attract vegan consumers. Furthermore, in the US, many food start-ups are promoting veganism, and celebrities such as Bill Gates are endorsing it. Other celebrities supporting veganism are Bill Clinton, Mike Tyson, Carl Lewis, Serena Williams, and Venus Williams. This growing popularity of veganism is expected to challenge market growth during the forecast period.
This animal feed enzymes market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global animal feed enzymes market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the animal feed enzymes market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the animal feed enzymes market encompasses successful business strategies deployed by the key vendors. The animal feed enzymes market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The animal feed enzymes market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the animal feed enzymes market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global specialty chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Form
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.