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Feed Enzymes Market Significant Growth towards superiors quality
Feed enzymes have become an essential part of the globally increasing meat industry. Increasing population trends support the meat market globally, thereby leading to a growth in the demand for feed enzymes. The overall market growth is closely connected to the growth in awareness among consumers with respect to preventive health and wellness of animals. Amongst the feed enzymes types, NSP leads the market. However, phytase dominates as an individual enzyme due to its wide applications and availability. These are the most successful and traditional types used in the feed enzymes industry.
There has been a significant growth in the feed enzymes market in recent years and it is estimated to follow the same trend in the coming years. The market is projected to grow significantly in the Asia-Pacific region with China, India, and Japan being the top countries projected to consume feed enzymes. Rise in global meat consumption, increasing awareness towards meat quality and safety, growing mass production of meat, and concerns of livestock disease outbreaks have boosted the growth of the feed enzymes market in the Asia-Pacific region. Ease of use, reduced application cost, and high efficiency are the major driving factors for the global market. The market for feed enzymes in a particular region is also driven by the types of livestock in the respective region.
The growth of this market is driven by the growing customer attention towards superior quality feed grades, which should be balanced and nutritive. The market is further driven by factors, such as the ban on antibiotics as growth promoters in the North American and European regions, rising prices of natural feed grades, and the use of feed enzymes for cost reduction of feed grades. The high-growth potential in emerging markets and untapped regions provide new growth opportunities for market players. The government regulatory structure & interventions and uncontrollable environment conditions are expected to be the major restraints for the growth of the feed enzymes market.
Europe was the market leader for feed enzymes and accounted for around 46% of the entire market in 2014. The Asia-Pacific market is estimated to be the fastest-growing between 2015 and 2020.
Feed Enzymes Market by Type (Phytase, Protease, and Non-starch Polysaccharides (Xylanase, â-glucanase, Cellulase, Mannanase & Pectinase)), by Livestock (Swine, Poultry, Ruminants, and Aquatic Animals) & by Region - Global Trends & Forecast to 2020
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