The global plant-based feed enzymes market refers to the market for enzymes derived from plant sources that are used as feed additives in animal nutrition. These enzymes are vital in enhancing the digestibility and nutrient utilization of plant-based feed ingredients, improving animal performance and overall feed efficiency. The increasing demand for sustainable and natural feed additives, coupled with the growing popularity of plant-based diets for animals, drives the growth of the global plant-based feed enzymes market.
According to Data Bridge Market Research, Plant Based Feed Enzymes Market is valued at USD 1.8 billion in 2021 and is expected to reach the value of USD 2.13 billion by 2029, at a CAGR of 8.40% during the forecast period of 2022 to 2029.
“Increasing demand for sustainable and natural feed additives surge market demand"
The increasing demand for sustainable and natural feed additives, driven by consumer awareness and preference, is a major driver for plant-based feed enzymes. As consumers become more conscious of conventional feed additives' environmental impact and health implications, the demand for eco-friendly alternatives rises. Plant-based feed enzymes provide a natural and sustainable solution by improving plant-based feed ingredients' digestion and nutrient utilization. This leads to enhanced animal nutrition, reduced environmental footprint, and improved overall sustainability in animal agriculture.
What restraints the growth of the plant based feed enzymes market?
“Limited efficacy on non-plant feed ingredients can impede the market growth”
Enzymes that specialize in enhancing the digestion of plant materials may have limitations when it comes to non-plant feed ingredients like animal proteins or fats. Their effectiveness may be limited in feed formulations that contain significant amounts of these non-plant ingredients. As a result, their application in such feed formulations is restricted. It is essential to consider alternative enzyme solutions or approaches to ensure optimal digestion and nutrient utilization in animal feed containing non-plant ingredients.
Segmentation: Global Plant Based Feed Enzymes Market
The plant based feed enzymes market is segmented on the basis of type, livestock and form
- On the basis of type, the plant based feed enzymes market is segmented into phytase, protease, and carbohydrase.
- On the basis on livestock, the plant based feed enzymes market is segmented into ruminants, swine, poultry, aquatic animals, pets, horses and others.
- On the basis of form, the plant based feed enzymes market is segmented into liquid and dry.
Regional Insights: North America dominate the global plant based feed enzymes market
North America has made significant contributions to the enzymes market, particularly due to recent advancements in protein engineering within the biotechnology sector. These advancements have led to the development of novel enzymes with improved functionality and specificity, expanding their applications across various industries, including food and beverage, pharmaceuticals, and biofuels. North America's robust research infrastructure, strong collaborations between academia and industry, and favorable investment environment have facilitated the growth of the enzymes market in the region, driving innovation and technological advancements in enzyme production and utilization.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-plant-based-feed-enzymes-market
Recent Developments in Global Plant Based Feed Enzymes Market
- In 2021, Novozymes and Novo Nordisk Pharmatech joined forces to create best-in-class technological enzymes to support the production of biopharmaceutical products.In 2021, At the Kundl/Schaftenau Campus in Austria, BASF and Sandoz GmbH reached an investment agreement. Sandoz is a Novartis subsidiary. Through this transaction, BASF will be able to increase the size of its biotechnology and enzyme production facilities.
- In 2021, By purchasing 27,778 SSPL equity shares from a few selling SSPL shareholders and subscribing to the issuance of 492,630 SSPL equity shares, Advanced Enzyme Technologies acquired a 51 percent controlling interest in SciTech Specialities Private Limited (SSPL).
The Prominent Key Players Operating in the Global Plant Based Feed Enzymes Market Include:
- Cargill Incorporated (U.S.)
- DuPont (U.S)
- Bluestar Adisseo Co. Ltd (China)
- BASF SE (Germany)
- Kemin Industries, Inc. (U.S.)
- DSM (Netherlands)
- Associated British Foods plc (U.K.)
- Novozymes (U.S.)
- Biocatalysts Ltd. (U.K.)
- Amano Enzyme Inc. (Japan)
- Kerry Group (Ireland)
- Jiangsu Boli Bioproducts Co.Ltd. (China)
- AUM Enzymes (India)
- Antozyme Biotech Pvt Ltd (India)
- Xike Biotechnology Co. Ltd. (China)
- SUNSON Industry Group Co.Ltd (China)
Above are the key players covered in the report, to know about more and exhaustive list of global plant based feed enzymes market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Plant Based Feed Enzymes Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
