GLOBAL – Appetite for meat is rising across the globe and the demand for more meat is having a positive impact on the global animal feed enzymes market which is expected to grow substantially during the forecast period to meet the demand for more meat.
According to a recent report by Polaris Market Research, the global animal feed enzymes market size is expected to is estimated to grow at a CAGR of 7.3 % from 2018 to 2026 to reach a market value of US$ 1.88 billion at the end of the forecast period.
Apart from increasing demand for more meat, Polaris Market Research also highlighted the rising cost of feedstock and rising awareness regarding the benefits of animal feed enzymes particularly in emerging regions such as Asia Pacific as the other factors fuelling this growth.
According to Polaris Market Research, there has been a rapid growth in the overall world population thus putting strain on the available food resources.
One of the food resources that is facing a potential strain is meat which is considered as an essential part of the diet as it incorporates many valuable nutrients that are highly beneficial for health
The demand for meat has put pressure on the animal husbandry participants to maximize output while reducing the usage of resources.
Enzymes aid in these efforts as they help in proper absorption as well as digestion of nutrients particularly from grain based feeds which normally have a hard coating which is indigestible without the help of these additives.
When used, animal feed enzymes break down the indigestible feed matter resulting in the improvement of digestion of essential nutrients such as proteins as well as increase in the availability of amino acids .
These additives also offset the negative effects of undigested nutrients and thus result in the maintenance of proper overall health of animals.
The research also notes that usage of animal feed enzymes results in a rise in immunity of the livestock thus reducing the death caused due to the various diseases.
China, Japan, Western Europe, and the United States are some of the countries contributing significantly for the industry growth, according to the research.
Asia Pacific is however, the most lucrative regional market, where the latest demand has been supported by rising demand of the developing countries, primarily of Southeast Asian region and Indian Subcontinent.
As a result of the rising demand of enzymes, companies are also concentrating on Asia Pacific and other developing regions to gain maximum share in the animal feed enzymes market.
German multinational chemical company BASF and Biomin have for instance announced the launching of a new phytase product for the Vietnamese feed industry.
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