Animal Feed Enzymes Market by Form and Geography - Forecast and Analysis 2022-2026

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.

What will the Animal Feed Enzymes Market Size be During the Forecast Period?

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Animal Feed Enzymes Market: Key Drivers, Trends, and Challenges

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.

Parent Market Analysis

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.

Who are the Major Animal Feed Enzymes Market Vendors?

The report analyzes the market's competitive landscape and 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.
• Specialty Enzymes and Probiotics

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.

Product Insights and News

• AB Enzymes GmbH - The company offers animal feed enzymes under the brand name Econase.

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.

Animal Feed Enzymes Market Value Chain Analysis

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:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Animal Feed Enzymes Market?

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43% of the market's growth will originate from APAC during the forecast period. 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.

The significant increase in the demand for poultry and other meat products owing to the rise in awareness about protein diet will facilitate the animal feed enzymes market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 hampered the growth of the regional animal feed enzymes market in 2020. Several countries in APAC, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were either under a partial or full lockdown due to the pandemic. For instance, in March 2020, the Indian government imposed a full lockdown to prevent the community spread of the disease. All end-user industries, such as consumer goods, pharmaceuticals, and chemicals, were highly affected, as their production units were either closed or halted. However, the market is expected to witness gain during the forecast period due to the large consumption of meat products, which would bolster the regional demand for meat and, consequently, for animal feed enzymes in the region during the forecast period.  

What are the Revenue-generating Form Segments in the Animal Feed Enzymes Market?

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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.

This report provides an accurate prediction of the contribution of all the segments to the growth of the animal feed enzymes market size and actionable market insights on post COVID-19 impact on each segment.

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
Key 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 recovery analysis 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.

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What are the Key Data Covered in this Animal Feed Enzymes Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive animal feed enzymes market growth during the next five years
• Precise estimation of the animal feed enzymes market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the animal feed enzymes industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of animal feed enzymes market vendors

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