Feed Enzymes - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

Feed Enzymes - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

The Feed Enzymes Market size is estimated at USD 1.38 billion in 2024, and is expected to reach USD 1.76 billion by 2029, growing at a CAGR of 4.98% during the forecast period (2024-2029).

• The global feed enzymes market is experiencing rapid growth due to the crucial role that enzymes play in increasing energy and nutrient intake from animal feed. Cereals, in particular, benefit from using enzymes, as they can increase starch intake in animals, which is especially useful when cereal prices are high. Despite their importance, the feed enzymes market accounted for only 3.8% of the global feed additives market in 2022.
• Asia-Pacific is the largest market for feed enzymes, accounting for 31.6% of the global market share in 2022. North America and Europe followed closely, accounting for 25.8% and 23.1% of the market share, respectively. The high market share in Asia-Pacific is attributed to higher penetration rates of feed additives and a higher animal population.
• Carbohydrases are the most widely consumed feed enzyme, with a market value of USD 576.5 million, due to their ability to increase the energy and starch intake from cereal feed. Carbohydrases are expected to be the fastest-growing feed enzyme, with a CAGR of 5.1% during the forecast period. Phytases are also expected to record a CAGR of 4.9% during the forecast period.
• Proteases and lipases are other enzymes that are significantly used to increase protein digestibility and utilization by animals. The demand for meat products is expected to increase the market for these enzymes, with a CAGR of 5.0% during the forecast period.
• The market for feed enzymes is expected to grow and register a CAGR of 5.0% during the forecast period, driven by the growing commercial cultivation of animals for dairy and meat products, along with increasing awareness of the importance of feed enzymes in animal feed.

• Feed enzymes are critical in increasing the intake of energy, starch, and phosphorus from animal feed. In the case of cereals, feed enzymes increase the starch intake of animals, which is beneficial when cereal prices are high. Despite their importance, the feed enzymes market accounted for only 3.8% of the global feed additives market in 2022.
• Asia-Pacific is the largest regional segment in the global feed enzymes market, accounting for USD 395.9 million in 2022 due to the higher penetration rates of additives and animal cultivation in the region. However, the United States is the largest country-wise segment for the global feed enzymes market, accounting for USD 225.8 million in 2022, or about 18.0% of the market share, due to highly developed production practices and commercial animal cultivation.
• China, with a 13.8% market share, is the second-largest country in the feed enzymes market, with its share increasing by 38.2% from 2017 to 2022. The United States is the fastest-growing country and is expected to record a CAGR of 6.3% during the forecast period (2023-2029) due to its high utilization of feed additives to improve productivity.
• With the growing concerns over rising productivity, the growing global population, and increasing urbanization, an increase in the consumption of meat and dairy products is expected to drive the global feed enzymes market with a CAGR of 5% during the forecast period (2023-2029). This growth will be driven by the need to improve animal health, increase the nutritional value of animal feed, and enhance animal productivity.

Global Feed Enzymes Market Trends

High demand for animal protein and poultry products such as eggs with increasing investment in poultry sector is increasing poultry population

• The poultry population has significantly increased in recent years due to the growing demand for chicken meat and eggs in daily diets. The shift toward poultry products has been driven by the increasing prices of other meat, such as pig meat, in the United States. The consumption of eggs in Europe increased by 4.6% between 2017 and 2021, accounting for 6,135 metric tons in 2021.
• Asia-Pacific is the largest producer of poultry birds, with production increasing by 6.6% in 2022 compared to 2017. The rise in poultry production is due to the growing demand for animal protein following the outbreak of African Swine Fever, which has reduced the supply of pork meat. China accounts for 40% of global production, the country has more than 900 million stock-laying hens, and the largest layer poultry farming center can hatch 60 million chicks annually.
• The Middle Eastern region is also expected to witness growth in poultry production during the forecast period (2023-2029). Companies such as Almarai in Saudi Arabia have invested heavily in the sector, with USD 1.12 billion spent on establishing new farms to expand production.
• The increasing demand for poultry products, coupled with rising investments in the poultry sector, is expected to strengthen the growth of feed production. This, in turn, is expected to drive the demand for feed additives in the global market during the forecast period. Overall, the poultry industry is poised for significant growth in the coming years, driven by the shift toward poultry products and increasing investments in the sector.

The growing demand for seafood consumption in Asia-Pacific and South America, and government initiatives is increasing the feed production for aquaculture species

• The demand for feed is rapidly increasing due to the expansion of aquaculture, which is driving the growth of compound feed production. In 2022, compound feed production increased by 13.1% from the previous year, and fish feed production increased by 46.3% between 2017 and 2022. The rise in consumption of fish feed is driven by the need to maintain and improve the performance of aquatic animals and increase productivity to meet the growing demand for seafood.
• Fish feed accounted for 73.2% of the global market in 2022, as fish is highly consumed and produced in the Asia-Pacific region. Shrimp and other aquatic species follow fish in the global market, with shrimp being highly imported by countries in the European region and the United States from other regions. To meet the growing demand for seafood, countries are focusing on the expansion of aquaculture production. For instance, India increased its budget allocation to the department of fisheries from USD 114.1 million in 2020 to USD 168.8 million in 2021 to increase production, which is expected to boost the demand for feed during the forecast period.
• South America is also experiencing an increase in feed production, which rose by 46.4% in 2022 from 2017 to reach 5.1 million metric tons due to the expansion of aquaculture farming. The region is one of the major seafood-consuming regions, and the increasing demand for seafood is driving the growth of aquaculture production.
• As aquaculture continues to expand to meet the growing demand, the development of the industry and a focus on its expansion are expected to fuel the growth of feed production. This increase in feed production for aquatic species is expected to aid in the growth of the aquatic segment during the forecast period.

Feed Enzymes Industry Overview

The Feed Enzymes Market is moderately consolidated, with the top five companies occupying 40.80%. The major players in this market are Archer Daniel Midland Co., DSM Nutritional Products AG, Elanco Animal Health Inc., IFF(Danisco Animal Nutrition) and Kerry Group PLC (sorted alphabetically).

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