Technavio's market research analyst predicts the global feed enzymes market to grow at a rate of 7% during the forecast period. The increase in global meat consumption is the key growth driver for this market. The per capita meat consumption globally is around 88 pounds per annum. Animal feed enzymes are an essential ingredient in the nutritional intake in animals, resulting in high-quality animal products.
However, the growing concern regarding the safety of animal feed is expected to deter the market growth during the forecast period. The FDA has passed regulations to ensure the safety of animal feed, medicated feed, and pet food. Manufacturers need to follow the regulations laid out by the FDA and are responsible for producing safe feed and pet feed. Fo4r instance, mammalian meat and bone meal were banned from all farm animal feed in the EU as they were linked to the spread of Bovine Spongiform Encephalopathy in cattle.
Segmentation by livestock and analysis of the global feed enzymes market
Poultry accounted for 51% of the market during 2014 and is expected to grow at a rate of 8% during the forecast period. The increase in poultry population is driving the demand for feed products globally.
Segmentation by type and further analysis on:
Geographical segmentation and analysis of the global feed enzymes market
APAC was the largest contributor in terms of revenue in the global market during 2014, with a market share of 36%. The increase in demand for meat products is expected to drive the demand for feed enzymes during the forecast period. China is the leading country for the production of animal feed enzymes in this region.
Competitive landscape and key vendors
The global feed enzymes market is highly competitive due to the presence of leading vendors such as BASF and DuPont. This market research report predicts the market to witness higher consolidation and increase in the influx of private vendors during the forecast period.
The key vendors in the market are
Other vendors in the market include Dyadic, Chris Hansen, and Aum Enzymes.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the feed enzymes market?
What are the key market trends impacting the growth of the global feed enzymes market?
What are the challenges to market growth?
Who are the key vendors in the feed enzymes market?
What are the market opportunities and threats faced by the vendors in the feed enzymes market?
Trending factors influencing the market shares of the APAC, Europe, Latin America, MEA, and North America?
What are the key outcomes of the five forces analysis of the global feed enzymes market?
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