The Plant-Based Feed Enzymes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Plant-Based Feed Enzymes Global Market Report 2024, The plant-based feed enzymes market size has grown steadily in recent years. It will grow from $1.83 billion in 2023 to $1.89 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The growth in the historic period can be attributed to adoption of enzymes for improved nutrient utilization, increased use of plant-derived ingredients in feed, industry efforts to reduce antibiotic use, scientific research supporting enzyme supplementation, expansion of aquaculture and poultry sectors.
The plant-based feed enzymes market size is expected to see steady growth in the next few years. It will grow to $2.11 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to increasing demand for animal protein, growing awareness of feed efficiency, regulatory support for animal health and nutrition, focus on sustainable agriculture and animal husbandry, shift towards natural and clean label products.. Major trends in the forecast period include globalization of livestock production, adoption of enzyme cocktails for feed efficiency, increased research in enzyme functionality, integration of precision nutrition in animal diets, development of multi-enzyme blends
A large livestock population is expected to propel the growth of the plant-based feed enzymes market going forward. Livestock population refers to the number of domesticated animals kept for food, labor, and other purposes. Plant-based feed enzymes fulfill the demand for livestock by addressing specific nutritional challenges and enhancing the efficiency of feed utilization. For instance, in February 2023, according to the UK government service website, the number of sheep and lambs in England had increased by 2.0% from 14.6 million in 2021 to 14.9 million in 2022. Therefore, the large livestock population is driving the growth of the plant-based feed enzyme market.
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The plant-based feed enzymes market covered in this report is segmented –
1) By Type: Phytase, Protease, Carbohydrase
2) By Form: Liquid, Dry
3) By Livestock: Ruminants, Swine, Poultry, Aquatic animals, Pets, Horses
Product innovation is a key trend gaining popularity in the plant-based feed enzymes market. Major companies operating in the plant-based feed enzymes market are developing innovative products to sustain their position in the market. For instance, in December 2021, BASF, a Germany-based chemical company, launched Natupulse TS, an innovative feed enzyme to unlock valuable nutrients from soybean meal and other plant-derived protein sources in commercial diets. It has non-starch-polysaccharide (NSP) enzymes such as beta-mannanase, which aids in improving the energy digestibility of nutrients, making the feed more cost-effective and supporting more sustainable animal protein production.
The plant-based feed enzymes market report table of contents includes:
1. Executive Summary
2. Plant-Based Feed Enzymes Market Characteristics
3. Plant-Based Feed Enzymes Market Trends And Strategies
4. Plant-Based Feed Enzymes Market – Macro Economic Scenario
5. Global Plant-Based Feed Enzymes Market Size and Growth
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26. South America Plant-Based Feed Enzymes Market
27. Brazil Plant-Based Feed Enzymes Market
28. Middle East Plant-Based Feed Enzymes Market
29. Africa Plant-Based Feed Enzymes Market
30. Plant-Based Feed Enzymes Market Competitive Landscape And Company Profiles
Top Major Players:
- Cargill Incorporated
- BASF SE
- Associated British Foods PLC
- DuPont
- DSM
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