Feed Enzymes Market Opportunities and Strategies to 2033

This report describes and explains the feed enzymes market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global feed enzymes market reached a value of nearly $1.7 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.86% since 2018. The market is expected to grow from $1.7 billion in 2023 to $2.5 billion in 2028 at a rate of 7.80%. The market is then expected to grow at a CAGR of 8.30% from 2028 and reach $3.7 billion in 2033.

Growth in the historic period resulted from the strong economic growth in emerging markets, stringent regulations on antibiotics usage and expansion of the poultry industry. Factors that negatively affected growth in the historic period include high production costs.

Going forward, the rising demand for animal protein, increasing livestock farming, environmental sustainability concerns, increasing government support and expansion of aquaculture will drive the market. Factors that could hinder the growth of the feed enzymes market in the future include supply chain disruptions.

The feed enzymes market is segmented by type into protease, phytase, carbohydrase and other types. The phytase market was the largest segment of the feed enzymes market segmented by type, accounting for 42.26% or $726.96 million of the total in 2023. Going forward, the protease segment is expected to be the fastest growing segment in the feed enzymes market segmented by type, at a CAGR of 8.78% during 2023-2028.

The feed enzymes market is segmented by form into dry and liquid. The dry market was the largest segment of the feed enzymes market segmented by form, accounting for 58.35% or $1.0 billion of the total in 2023. Going forward, the liquid segment is expected to be the fastest growing segment in the feed enzymes market segmented by form, at a CAGR of 8.33% during 2023-2028.

The feed enzymes market is segmented by livestock into swine, poultry, ruminants, aquatic animals and other livestock. The poultry market was the largest segment of the feed enzymes market segmented by livestock, accounting for 42.05% or $723.29 million of the total in 2023. Going forward, the aquatic animals segment is expected to be the fastest growing segment in the feed enzymes market segmented by livestock, at a CAGR of 10.05% during 2023-2028.

The feed enzymes market is segmented by source into microorganism, plant and animal. The microorganism market was the largest segment of the feed enzymes market segmented by source, accounting for 70.02% or $1.2 billion of the total in 2023. Going forward, the plant segment is expected to be the fastest growing segment in the feed enzymes market segmented by source, at a CAGR of 8.62% during 2023-2028.

Asia-Pacific was the largest region in the feed enzymes market, accounting for 41.87% or $720.29 million of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the feed enzymes market will be Asia-Pacific and Africa, where growth will be at CAGRs of 9.41% and 9.02% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 8.71% and 7.89% respectively.

The global feed enzymes market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 17.84% of the total market in 2023. Elanco Animal Health Inc. was the largest competitor with a 2.77% share of the market, followed by Koninklijke DSM N.V. with 2.65%, Archer Daniel Midland Co. with 2.08%, Novus International Inc. with 1.74%, BASF SE with 1.73%, IFF (Danisco Animal Nutrition & Health) with 1.57%, Adisseo France SAS with 1.41%, Novozymes AS with 1.33%, Rossari Biotech Ltd. with 1.32% and Associated British Foods plc (ABF Ingredients (ABFI)) with 1.23%.

The top opportunities in the feed enzymes market segmented by type will arise in the phytase segment, which will gain $314.98 million of global annual sales by 2028. The top opportunities in the feed enzymes market segmented by form will arise in the dry segment, which will gain $431.46 million of global annual sales by 2028. The top opportunities in the feed enzymes market segmented by livestock will arise in the poultry segment, which will gain $351.8 million of global annual sales by 2028. The top opportunities in the feed enzymes market segmented by source will arise in the microorganism segment, which will gain $538.91 million of global annual sales by 2028. The feed enzymes market size will gain the most in the USA at $101.57 million.

Market-trend-based strategies for the feed enzymes market include advancements in xylanase technology for enhancing nutrient availability in animal feed, regulatory approvals to enhance production efficiency and promote sustainable practices and strategic partnerships among major players to enhance product offerings.

Player-adopted strategies in the feed enzymes market include focus on enhancing operations through innovative product approvals, enhancing poultry feed efficiency and sustainability through strategic partnerships, collaborative innovation to advance enzyme technology for animal feed, enhancing animal nutrition and health, strengthen enzyme product offerings and innovation pipeline by through strategic acquisitions and enhancing nutrient digestion in animal feed through innovative, cost-effective and sustainable enzyme solutions.

To take advantage of the opportunities, the analyst recommends the feed enzymes companies to focus on advancing xylanase technology, focus on gaining regulatory approvals, focus on the protease segment, focus on the liquid market segment, focus on the aquatic animals segment, expand in emerging markets, focus on strategic partnerships, focus on strategic pricing, focus on targeted marketing campaigns, focus on educational initiatives, focus on the plant segment and focus on building strong relationships with end-users.