The rise in global meat consumption is notably driving the animal feed enzymes market growth. 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. In addition, the product launches from companies are another factor likely to influence the market growth positively during the forecast period. 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. Furthermore, technical innovations by manufacturers are estimated to further drive the market growth during the forecast period.
However, one of the key challenges to the global animal feed enzymes market growth is the increasing popularity of vegan diets. 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.
View Report Outlook for additional factors influencing the market's growth
The animal feed enzymes market is segmented by Form (dry and liquid) and Geography (APAC, Europe, North America, South America, and MEA). The animal feed enzymes market share growth by the dry segment will be significant during the forecast period. The segment is expected to grow during the forecast period owing to its ability to sustain temperatures in fodder processing, better thermal stability, and easy handling. In terms of Geography, APAC held the largest regional segment of animal feed enzymes market in 2021. The region will contribute 43% of the overall market's growth during the forecast period mainly due to the significant increase in the demand for poultry and other meat products owing to the rise in awareness about the protein diet. China and India are the key markets for animal feed enzymes in APAC. Market growth in this region will be faster than the growth of the market in North America, South America, and Europe.
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The animal feed enzymes market covers the following areas:
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters
Animal Feed Enzymes Market Sizing
Animal Feed Enzymes Market Forecast
Animal Feed Enzymes Market Analysis
Companies Mentioned
- 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.
- Specialty Enzymes and Probiotics
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Food Enzymes Market by Product, Application, and Geography - Forecast and Analysis 2021-2025
Feed Phytogenics Market in Europe by Application and Feedstock - Forecast and Analysis 2022-2026
Animal Feed Enzymes Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.07% |
Market growth 2022-2026 |
$ 501.59 million |
Market structure |
Fragmented |
YoY growth (%) |
7.52 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 43% |
Key consumer countries |
US, China, Germany, UK, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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 |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021 - 2026
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Form
- Market segments
- Comparison by Form
- Dry - Market size and forecast 2021-2026
- Liquid - Market size and forecast 2021-2026
- Market opportunity by Form
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2021-2026
- Europe - Market size and forecast 2021-2026
- North America - Market size and forecast 2021-2026
- South America - Market size and forecast 2021-2026
- MEA - Market size and forecast 2021-2026
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 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.
- Specialty Enzymes and Probiotics
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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