Selbyville, Delaware, As cited by the research report titled ‘Global Feed Enzymes Market Size study with COVID-19 Impact, by Type, by Livestock, by Source, by Form and Regional Forecasts 2020-2027’ available with Market Study Report LLC, Global Feed Enzymes Market to reach USD 2.3 billion by 2027 and was worth USD 1.2 billion in 2019 and is predicted to showcase a CAGR of 8.1% during 2020-2027.
Industry experts claim that increasing adoption of the product for enhancing nutritional value of animal feed coupled with growing concerns regarding animal health are bolstering the expansion of global feed enzymes market size.
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For the record, enzymes are proteins that are naturally secreted by animals, plants, and microorganisms during their digestion process. Feed enzymes are added to improve the mineral and vitamin content of the animal feed.
The business intelligence report states that emphasis on improving the nutrient content of feed along with escalating demand for feed additives and produced feed are stimulating the overall market outlook.
Major companies operating in the industry are Novus International Inc., Advanced Enzyme Technologies Ltd., Novozymes A/S, Associated British Foods Plc, Cargill Inc., Bluestar Adisseo Co., Koninklijke DSM N.V., DuPont de Nemours Inc., and BASF SE among others.
Further, technological advancements in the business domain, introduction of innovative products, and mergers, acquisitions, and other strategic alliances by major players are positively swaying the global feed enzymes market dynamics. On the contrary, complications associated with the hydrolysis of glucose and negative effects of over-usage of enzymes are expected to slow down industry expansion during the analysis timeframe.
Based on type, global feed enzymes industry is divided into protease, carbohydrase, phytase, and others. With regards to livestock, the market is fragmented into aquatic animals, ruminants, swine, poultry, and others. Speaking of form, the overall business is split into liquid and dry. Moving on to source, the industry comprises of plants & animals, and microorganisms.
Regionally, Asia-Pacific feed enzymes market is projected to register the highest compound annual growth rate over 2020-2027, on account of large livestock population, and increasing establishment of feed mills in the region.
For More Details on Feed Enzymes Market Report at: https://www.marketstudyreport.com/reports/global-feed-enzymes-market-size-research?utm_source=Marketwatch.com/&utm_medium=SP
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