Asia Pacific Feed Enzymes market has been estimated at USD 23.09 Billion in 2016 and is projected to reach USD 32.99 Billion by 2021, at a CAGR of 7.40% during the forecast period from 2016 to 2021.
Feed enzymes are artificial feed additives that are added for supporting animal growth and for controlling infectious diseases prevalent in animals. Feed enzymes assist in raising the rate of biochemical reactions that supports the animal’s life. They are useful in the extraction of extra nutrients from the animal feed and helps reduction of animal waste, which reduces the amount of nitrogen and phosphorus in animal excreta, which has a protective effect on the environment.
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Increased consumption of meat due to a shift in the lifestyles of consumers, rising awareness on the safety and quality of meat, growing customer attention towards superior quality feed grades which should be balanced and nutritive, are some of market drivers in the Asia-Pacific region. Government regulatory structure and interventions in terms of sales and pricing, and uncontrollable environment conditions are the factors that might hinder the feed enzymes market growth.
- By type of ingredient
- By type of animals
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Geographically, Asia-Pacific Market for Feed Enzymes is segmented into China, India, Japan, Australia, Thailand and Others. China is the major manufacturer which accounts for around half of the production of feed Enzymes in Asia-Pacific region. Thailand and Australia are the fastest growing markets within the region. Production in China and India is steadily growing which is resulting in increased demand for feed enzymes for pork and poultry industries.
Major companies in the Asia-Pacific market are DuPont, DSM, BASF Corporation, Alltech, Novozymes and Adisseo France. Other Major players in the market are AB Enzymes GmbH, Advanced Enzymes Technologies Limited, Amano Enzyme Inc. Bio Vet JSC, Biocatalysts ltd, Chr. Hansen Inc, Enmex Sa De Cv, Lesaffre Group, PURATOS GROUP, Rossari Biotech Limited, Shenzhen Leveking Bio-Engineering Co. Ltd and Sunson Industry Group Company Limited.
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Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.