FOOD, NUTRITION AND ANIMAL FEED
Brewing enzymes market to establish its space in the sustainability landscape, novel enzyme application in beer production to boost the industry growth over 2017-2024
Charles Wells’ recent sale of the Bedford brewery to Marston’s is one of the many deals that indicates the developments in Brewing Enzymes Market. The deal, supposedly signed for a valuation of GBP 55 million, grants Marston’s, the brewer & pub operator, the complete, exclusive business and beer distribution rights, thereby augmenting the position of the manufacturer in the regional brewing enzymes industry. The extensive demand for beer and alcoholic beverages is one of the many principal drivers fueling the demand for brewing enzymes market. As per estimates, beer production surpassed around 1.9 billion hectolitres in 2016, with China alone contributing around 430 million hectolitres to this amount. The same year recorded consumer expenditure on alcoholic beverages to exceed USD 222 billion globally. These estimates provide copious evidence to the fact that brewing enzymes industry is undoubtedly here to stay, having held a valuation of more than USD 230 million in 2016.
U.S. Amylases Brewing Enzymes Market Size, By Function, 2016 & 2024 (Tons)
Brewing Enzymes Market: An Introduction to Beer Production
The conventional beer brewing process involves soaking and heating the barley grain, which ultimately produces its own enzymes, that convert barley starch into fermentable sugars. Essentially, the barley is malted, kilned, post which wort is manufactured from the extracted malt. Furthermore, the wort is cooked, treated, fermented, filtered, and then stabilized. The malting process, basically, holds the force of attention in this entire methodology, since the process primarily aims to achieve the maximum production of enzymes such as β-glucanase and α-amylase, in addition to encompassing the maximum depolymerisation of β-glucan and starch. It is to be remembered that the mashing process basically aims to produce extensive quantities of fermentable sugars in liquor that can be easily filtered. Enzymes such as β-amylases are already present in barley, but the lion’s share of enzymes such as proteases and α-amylases are produced during the germination process.
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Unveiling the enzyme landscape of brewing enzymes industry: Current and Future Trends
A research report by Global Market Insights, Inc., segments brewing enzymes market into xylanases, proteases, amylases, and beta-glucanases. Alpha-amylase and beta-amylase are particularly considered the most crucial enzymes contributing toward beer production, making amylases one of the most lucrative product segments of brewing enzymes industry. While both are vital indicators of the malt quality and are completely responsible for the release of fermentable sugars from starch during the mashing segment of wort production, it is to be remembered that they do have some strikingly varying characteristics. For instance, alpha-amylase is essentially an endo-acting enzyme responsible for hydrolyzing α-1,4 glucose linkages in the starch, while beta-amylase is an exo-acting enzyme that dissects maltose units from the starch.
Amylases ensure that the mashing process is consistent and uniform, without any irregularities. Furthermore, these enzymes ensure enhanced fermentation and filtration – which are the key factors contributing toward high-quality beer production. In the light of these properties, amylases-based brewing enzymes market was worth more than USD 75 million in 2016. It has been forecast that this segment will stand to gain substantial returns over the forthcoming years, possibly with reference to the fact that its usage leads to the rising production of fermentable glucose during beer production. Summating this driver with the fact that the demand for beer has been rising exponentially across numerous geographies, especially North America and Asia Pacific, will unquestionably carve a profitable growth map for brewing enzymes industry from amylases over 2017-2024.
Unlike amalyses, beta-glucanase is the vital enzyme that contributes toward the hydrolysis of beta-glucans during the malting & mashing processes. Higher levels of beta-glucans deliver high viscosity wort, which are appropriately hydrolyzed by beta-glucanases. Pertaining to the fact that this enzyme imparts excellent filtration, enhances wort separation, and lowers the viscosity levels in the wort, brewing enzymes market from beta-glucanases has been forecast to register a demand of more than 5000 kilotons by 2024, which accounts for approximately 30% of the overall brewing enzymes industry share by 2024. One of the most crucial drivers fueling the adoption of this product across breweries is that it helps enhance the beer quality with unmalted barley. This enzyme has been touted by experts to be a lucrative investment avenue for brewing enzyme market giants.
Brewing enzymes industry: Riding on the emblem of sustainability
Of late, brewing enzymes market has been experiencing a paradigm shift in accordance with the ongoing sustainability trends. It is noteworthy to mention that beer production and distribution had already entered the sustainability terrain when Harboe, the Danish brewery, had launched the use of a new enzyme for beer production in 2009, inscribing its name on the prestigious lineup of brewing enzymes market players that were some of the first ones to proliferate sustainable beer production. The new sustainable beer had apparently been christened as Clim8 Beer, which had come into being as a result of the two-year collaboration between Novozymes, the reputed brewing enzymes industry behemoth and Harboe.
The eco-friendly trend still continues to rule the charts, given that brewing enzymes market is highly controlled by changing consumer preferences and a rather stringent regulatory framework. On that note, it is prudent to mention that the beer magnate, Carlsberg, has recently launched a new sustainability program, in a bid to reduce the water usage by 50% and to eliminate carbon footprints by the year 2030. Tentatively titled ‘Together Towards Zero’, the project is categorized into four individually handled sub-projects, namely, Zero water waste, Zero accidents culture, Zero carbon footprint, and Zero irresponsible drinking. Zero carbon footprint is the goal that aims to source 100% of the electricity required at Carlsberg’s breweries by 2022 and also reduce the carbon emissions at these breweries by 30% by 2030. The brewing enzymes industry enterprise, through the Zero water waste program, aims to reduce the amount of water used by its breweries, by 50%.
Backed by a set of strict reforms, brewing enzymes market is certain to achieve an appreciable growth in the ensuing years. Judging by consumer reactions, it would seem that they are sufficiently content enjoying a glass of this beverage, basking in the valuable know-how of the fact that has indeed been sourced through a brewery that endorses sustainable solutions. Furthermore, the latest preferences of customers have been inching toward consuming beer that has been brewed with 100% unmalted barley, which will undeniably expand the scope for brewing enzymes market in the years to come.
As the experts claim, the future of brewing enzymes industry comprehends a widespread deployment of enzymes to be brewed with barley. In addition, alternative processes for beer and wort production that manifest high-grade productivity and endorse a robust reduction in the production of wastes and derivatives are expected to fabricate the future scope of brewing enzymes market, a lucrative business in the making, with an estimated target valuation of more than USD 390 million by 2024.
Author Name : Saipriya Iyer
Poultry probiotics market to surpass the billion-dollar benchmark by 2024, industry poised to witness a vibrant competitive landscape
Over the past few years, livestock production has increased exponentially. This has indeed made a subsequent impact on poultry probiotics market, with the increasing demand for NGPs (natural growth promoters) in animal feed. Poultry probiotics industry is strongly characterized by R&D and product innovation activities which has made this fraternity witness a fiercely competitive landscape. The industry players are constantly involved in implementing growth strategies such as global expansion and product development to sustain their market value. Below is a synopsis of the contributions by the key participants toward the growth of poultry probiotics market:
U.S. Poultry Probiotics Market Size, By Application, 2016 & 2024, (KT)
Adisseo and Novozymes
Two of the prominent global leaders in poultry probiotics industry, Adisseo and Novozymes, have launched their probiotic called Alterion, especially for poultry application. Made from all the naturally-occurring bacterium found in soil, use of Alterion in the animal feed has helped the farmers to better control the gut health of their animals. It also prevents the growth of unwanted bacteria in the digestive tract of animals and optimizes the feed conversion by 2% to 2.5%.
Both the firms are striving to expand their global reach in this rapidly developing market. In 2016, Alterion, was introduced in the U.S. and later in the countries of South East Asia and Middle East.
Currently, U.S. is witnessing a strong demand for streptococcus based poultry probiotics as it increases animal weight and enhances their feed conversion. As per estimates, U.S. poultry probiotics market from the demand of streptococcus is projected to generate revenue worth over USD 25 million by 2024.
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Collaboration of Novozymes and Boehringer
Boehringer Ingelheim Animal Health and Novozymes have recently created a vibrant buzz in poultry probiotics market, by announcing their plan to collaborate and commercialize probiotics for global poultry production. This, early 2017 announcement of Boehringer Ingelheim to join forces with Novozymes- the renowned biological solutions provider, will enable the former to foray into animal feed additives market, which is profoundly challenged by antibiotic bans.
Stringent regulations by EU Commission and the FDA toward the ban of AGPs in animal feed have positively influenced the global poultry probiotics market trends.
The collaboration is indeed an appreciable step taken by the companies to enhance their market value in terms capabilities, product innovation, and pricing strategy. With this move, Novozymes is expected to utilize Boehringer Ingelheim’s vast network to gain access to new distribution channels and customers across the globe.
Evonik, a leading player in poultry probiotics industry has recently (January 2017) launched its first probiotic product called GutCare PY1. The company, being a specialist in feed amino acids, plans to take the lead in the field of developing sustainable and antibiotic-free livestock feed additives. Presently, Evonik holds three probiotics in its portfolio, viz. Ecobiol for poultry, Fecinor for piglets, and the newly launched GutCare PY1. Expanding the product portfolio has complemented the company with a better accessibility to the customers at a global scale. Evonik plans to initially introduce the product in the U.S. poultry probiotics market and gradually in the Asia Pacific belt.
Chr. Hansen is amongst one of the world’s top three manufacturers of probiotics for animals, along with Dupont and Lallemand.
The under growing pressure to use fewer antibiotics in the food chain has been an important driver for the growth of poultry probiotics market. This company is grabbing the huge opportunity from the growing demand for antibiotic-free poultry and is expanding its animal nutrition portfolio in Asia Pacific market.
Asia Pacific is one of the chief regions witnessing a phenomenal expansion of animal health industry. Countries such as Australia, South Korea, India, and China are comparatively mature in terms of usage of probiotics in feed.
As per a report, China poultry probiotics industry is projected to generate revenue over USD 250 million by 2024, owing to rising consumption of broiler meat and rise in per-capita disposable income.
Chr. Hansen is actively planning to launch its product in China & US poultry probiotics market as an alternative to antibiotics, as these countries bet big in terms of swine and chicken sectors globally.
- The rising concerns over antibiotic usage in animal feed which poses a major threat to human health is certain to drive poultry probiotics market dynamics over the coming years.
- As the global poultry probiotics industry is highly competitive in nature, collaborations and product portfolio expansion will act as major growth strategies.
- The global poultry probiotics market is likely to witness major application scope from broilers, turkeys, and chicks & poults segments.
These trends vividly validate the potential of poultry probiotics industry in the coming years. As per a report by Global Market Insights, Inc., Poultry Probiotics Industry is projected to register a CAGR of 7% over 2016-2024, surpassing a valuation of USD 1.8 billion by 2024.
Author Name : Ojaswita Kutepatil
Feed micronutrients market to accrue nearly 50% of its estimated valuation by 2024 from poultry, Europe to be one of the key revenue pockets
Cargill’s recent acquisition of Southern States’ animal feed business is a major evidence of the ongoing developments in Feed Micronutrients Market. This acquisition, from Cargill’s end, was solely aimed at expanding its presence in Southeast U.S.A. and by extension, consolidating its position in feed micronutrients industry. This deal will present Cargill with numerous opportunities to improve its brand value and product portfolio, as Southern States Cooperative is reputed to manufacture nutritional feed for animals such as goats, cattle, turkeys, and chickens. Other companies operating in this business space are also involved in periodic M&As, to sustain their position in feed micronutrients market, which, as per estimates, held a revenue of USD 1.2 billion in 2016.
U.S. Feed Micronutrients Market Size, By Product, 2016 & 2024 (USD Million)
A recent news snippet highlights how South Korea has decided to lift the ban on U.S. poultry to accomplish the surging demand for poultry products, especially eggs. In the last month, the South Korean government had announced that it intends to reduce all the import duties on 28,000 tons of egg products, imported from the U.S., until the end of 2017. According to a market study, by the end of 2024, feed micronutrients market will collect a revenue of over USD 990 million solely from poultry application. Following South Korea’s lead, China also plans to lift restrictions on imported poultry products.
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Animal feed plays an important role in the food chain, as a result of its implication on human health, with humans consuming products such as egg, milk, and meat. To maintain a balanced food chain and protect animal and consumer health, various governmental organizations across Europe have been enforcing legislations on animal feed quality, which will eventually provide a positive impetus to feed micronutrients market. Most companies therefore, have been focusing on the development of bio products to comply with the regulations. As per estimates, Europe feed micronutrients market is slated to generate a revenue of more than USD 585 million by 2024. Some of the renowned players in feed micronutrients industry are ADM, Cargill Inc., Balchem Corporation, Novus International, Aries Agro, Zinpro Corporation, Agrium Advanced Technologies, Inc., Gawrihar Bio-Chem Pvt. Ltd., Nutreco N.V, Alltech, Lallemand, and Kemin Industries.
The companies operating in feed micronutrients market are investing heavily in new product developments to enhance their product portfolio. One of the major participants, Aries Agro has witnessed a huge growth in its revenue collection between 2016-17, as this company set its hopes on its new product pipeline. Aries Agro plans to launch new products for aqua culture by the end of this year as well, state reports. Speaking on similar lines, aquaculture feed micronutrients industry is slated to register an annual growth rate of more than 6% over the period of 2017-2024.
Nowadays, feed micronutrients are increasingly used as animal food additives to enhance the health and yield of the livestock. Therefore, to garner a more lucrative share of the business, some of the players have been focusing on research and development activities to detect possible ways to enhance product development. In July 2017, for instance, ADM Animal Nutrition expanded its Gro Fast portfolio, which is likely to provide a rich energy diet, bioavailable vitamins and high-quality protein for dairy beef cattle. Designing a comprehensive feeding program to improve the quality of feed additives is thus, slated to generate profitable growth prospects for feed manufacturers over the years ahead. According to Global Market Insights, Inc., feed micronutrients industry will surpass a revenue collection of USD 2 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Over the past decade, the growth of veganism has increased exponentially. The proliferation of rice protein market can be strongly grounded to this changing demographic preference. Attesting to this strong backdrop, global vegan population in 2016 crossed almost 360 million, with the United States accounting for a major ratio. According to a reliable study- almost 3% of the U.S. population (around 7.5 million Americans) follow a vegetarian based diet, out of which approx. 1 million fall under the category of active vegans. These aforementioned statistics is quite an evidence to the escalating rice protein market demand in recent years. Vegans are becoming increasingly health conscious and are including vegetable proteins as nutritional supplements in their staple diet, subsequently impelling commercialization of Rice Protein Market.
U.S. Inorganic Rice Protein Market Size, By Application, 2016 & 2024, (USD Million)
Penetrating a diversified application landscape, encompassing sports and energy nutrition, meat analogues & extenders, animal feed, bakery and confectionary, cosmetic, and pharmaceutical sectors, rice protein market is forecast to almost double its revenue collection in the coming seven years, from USD 60 million in 2016 to over USD 115 million by 2024. Research has indeed proved that intake of this value added nutritional supplements can prove to be more healthy and environmental friendly, subject to the fact that these vegetarian protein isolates maintains cholesterol and blood sugar level. In this regard, it is important to note that growing consciousness amongst global youth regarding maintaining a good physique is providing a significant push to rice protein market growth.
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Considering the product palate, rice protein industry is predominantly bifurcated into inorganic and organic isolates. While organic rice protein isolates are mainly implemented in sports & energy nutrition, dairy alternatives, meat & extenders, and bakery & confectioneries, inorganic isolates are more prevalent across pharmaceutical, food & beverage, animal feed and cosmetic sectors. Organic rice protein market has gained a remarkable traction over the recent years, driven by the expanding pool of vegan population. Wellness and sustainable environmental profile is further instigating a large mass to shift away from animal sourced food. Another profound sector heavily influencing rice protein market dynamics is dairy alternatives market. The future growth potential of dairy alternatives industry is forecast to be positively high, which in a way is translating a positive influence on organic rice protein business space as well. In fact, statistics claim organic rice protein market by the end of 2024, will surpass a valuation of USD 60 million. Regionally U.S. experiences a strong urge for dairy and meat free diet, which can be primarily credited for the significant expansion of the regional organic rice protein market. Global Market Insights, Inc. depict that U.S. organic rice protein industry will record a valuation of USD 1.5 million by the end of 2024
|Organic Rice Protein Market|
|Applications||Projected CAGR over 2017-2024|
|Sports & Energy Nutrition||10%|
|Meat & Extenders||12%|
Worldwide, rice protein industry is rather concentrated with leading companies procuring a major chunk of the industry share. These players are known to focus on research and development to manufacture innovative products and reduce the manufacturing cost to attract a wider customer base. Some of the prominent players involved in rice protein market include RiceBran Technologies, Nutribiotic, Axiom Foods, AIDP Inc., Shafi Gluco Chem, and Golden Grain Group. Recently, FDA has granted GRAS certification to Axiom Foods for their organic brown rice protein ingredient, Oryzatein. Reportedly, this was the first time when a rice protein was acclaimed with such a designation by a renowned authority such as FDA. This grant in itself is a sure shot indication that rice protein market may soon enter mainstream food production, exploiting a vivid range of commercialization potentials in the years ahead.
Author Name : Satarupa De
Organic ice cream market to cross the billion-dollar benchmark by 2024, U.S. and China to be key revenue pockets
Organic ice cream market has recently gained a renewed traction with the latest buzz created by the Japanese scientists with regards to introducing the ice cream that “doesn’t melt”. As per sources, this ice cream can retain its original shape and taste even at a temperature of 28°C (82.4 F). In the making of this product, the Japanese scientists used a natural strawberry extract called polyphenol liquid that stops the water and oil from separating quickly, which enables the ice-creams to stay frozen. This ice-cream with all-natural extract was introduced to the people in Kanazawa, and then in Osaka and Tokyo, which in turn has propelled the regional organic ice-cream industry growth. This example sheds light on the fact that the companies operating in organic ice cream market, need to be innovative with their ingredients and flavors to uphold their sales in the fiercely competitive landscape.
U.S. Organic Ice Cream Market Size, By Product, 2016-2024 (Kilo Tons)
Rising health consciousness among the consumers has created higher demand for natural low-fat or fat-free ice creams that has indeed secured lucrative avenues for organic ice cream market. In 2016, the global ice cream spending, was recorded worth USD 55 billion and ice cream consumption surpassed 23 billion liters. U.S. and China represented the major regions in the organic ice cream market with the largest consumer base and the trend is likely to continue with both these regions foreseen to be major stakeholders in this fraternity. Sweden, Australia, Italy, New Zealand, U.S., and Denmark are the major countries consuming the highest per capita/liter of ice cream.
The trend of maximizing the nutritional credentials in ice cream by increasing the content of organic ingredients, has significantly driven organic ice cream industry share. Moreover, various advancements in the field of cold chain infrastructure, storage facilities, and refrigerated transport systems have fostered the growing trend of low fat and organic ice creams across the globe. Valued at USD 850 million in 2016, Organic Ice Cream Market is further expected to reach USD 1.2 billion by 2024. Global Market Insights, Inc., also predicts the organic ice cream consumption to go beyond 245 kilotons by 2024.
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In this to-be billion-dollar industry, vanilla continues to be the flavor of choice in both, take home and artisanal ice cream product types. This flavor is the most versatile and exhibits profound blending with bakery desserts, drinks, and toppings. Consumers demand for vanilla ice creams has risen, owing to its all-natural and pure ingredients. Basically, organic ice-cream is made up of concentrated flavor of organic ingredients such as organic cream, organic milk, low/whole milk, and organic egg yolks, which is mixed with stabilizers, flavors, emulsifiers, and sweetening agents. In 2016, vanilla organic ice cream market accounted for more than 29% of the total demand. Growing demand from families for multi-serving desserts in gatherings and special occasions have augmented the demand for take home ice-cream products. Having contributed to over 50% of the organic ice cream industry share in 2016, take home is likely to dominate the overall product demand.
Organic chocolate flavor is also gaining popularity, on account of rising consumer awareness toward health benefits of natural cocoa. Moreover, the proven benefits of dark chocolate in preventing cardiac diseases and improving the skin texture have profoundly attracted consumers to pick organic chocolate flavors in their ice cream scoops. Butter pecan, strawberry, mint chocolate, and black raspberry are among the other key flavors contributing to organic ice cream market revenue.
Growth Strategies | Nestlé simplifies its ingredients as consumer demands for organic products
Nestlé has featured a new ice cream recipe branded as Slow Churned Simple Recipes, where they have reduced from average of 22 ingredients to mere 7 to 8 ingredients. It has also removed all the artificial colors, flavors, high fructose, corn syrup, and GMO ingredients to enhance its nutritional value. In addition to this, it is using fresh milk from cows not treated with rBST. The roll-out of the new product had begun in 2016 and has substantially influenced the organic ice cream industry. Weight Watchers International, Blue Bell, Dean Foods, So Delicious Dairy Free, Mikawaya, Lotte Confectionary, Unilever, and Amul are key organic ice cream market players. These companies are highly seen responding to shifting consumer trends toward natural and nutritious ice cream flavors and are also offering a wide range of premium products in innovative flavors. With consumers persistently appreciating the value of simple and organic ingredients particularly in the F&B sector, it is certain for organic ice cream market to chart a profitable roadmap over the years ahead.
Author Name : Ojaswita Kutepatil
Endorsed with a commendable health and nutritional value, fortified salts are gaining a remarkable traction on a large-scale. Fortified Salts Market valuation was recorded at USD 3.5 billion in 2016 and is projected to exceed a volume of 19.4 kilo tons by 2024. The growing emphasis on nutritional food intake coupled with the increasing prevalence of malnutrition among children are few of the profound factors favoring fortified salts industry trends. The iodine deficiency is also leaving a favorable impact on fortified salts industry trends. APAC and MEA are the two major regions highly under the influence of this trend with Goiter – an ailment caused by iodine deficiency, prevailing significantly in these regions. Owing to these prominent medical benefits, fortified salts industry is becoming an attraction for the investors to generate huge margins.
U.S. Fortified Salts Market Size, By Product, 2016 & 2024 (USD Million)
Fortified salts find a wide range of applications across food processing, dental, hospital & service, and household & animal feed sectors. Burgeoning need for preserving processed & packaged food will boost the product demand across the food processing sector. Household & animal feed sector is forecast to record a CAGR of more than 7.5% over the coming seven years, subject to growing health consciousness among the consumers coupled with the rising healthy diet requirement for the livestock.
Fortified salts market value in the hospitality & service sector, worth more than USD 900 million in 2016, is estimated to hit over USD 1.5 billion by 2024, owing to the growing popularity of healthy as well as flavored food among the consumers.
Escalating concerns about the dental hygiene of the children aged between 2 to 11 years is expected to boost the product demand across the dental sector. Extensive product usage in healing gum ulcers and teeth whitening will accelerate fortified salts market growth in the dental sector.
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North America fortified salts industry size, which was evaluated at more than USD 1.5 billion in 2016, is projected to witness a lucrative surge in the future. Rise in the obese population, pregnancy-induced hypertension, neurological diseases, and miscarriages are some of the key growth drivers.
Asia Pacific fortified salts market value is foreseen to reach USD 2.4 billion by 2024, driven by healthy dietary habits coupled with the rise in the rate of life expectancy. China, Vietnam, and India are the major regional revenue pockets. Vietnam fortified salts industry is anticipated to grow at a rate of more than 7.5% over 2017-2024. Large production of fine salt along with its mounting sales will push the growth.
Iodine, Iron, and double fortified salts are some of the major products of fortified salts industry. Iodine fortified salts market value, worth USD 1.3 billion in 2016, is expected to record a growth of 7.1% over the years ahead. High product penetration can be attributed to the rising intake of iodine by the people for maintaining their basic metabolic rate to prevent the occurrence of goiter, constipation, depression, thyroid, weakness, still birth, and excessive weight gain.
Double fortified salts industry revenue, worth USD 845 million in 2016, is set to expand at a CAGR of more than 8.5% over the coming years, owing to the rise in the anemic conditions among the women & child population across the globe. High product demand across the APAC region can be attributed to the large number of anemia cases witnessed among its population.
Online Stores, hypermarket & supermarket, and grocery stores are the various distribution channels of fortified salts industry. Fortified salts industry size from online stores is expected to hit USD 1.45 billion by 2024 registering a CAGR of more than 7% over the coming timeline. Fortified salts market revenue from hypermarket & supermarket is slated to grow at an annual rate of over 7% during the period from 2017 to 2024, subject to huge rebates offered by these stores on the purchase of items in bulk. Grocery stores contributed more than USD 1.5 billion towards fortified salts industry revenue in 2016 driven by the popular use of the product across the household sector.
AkzoNobel N.V., United Salt Corporation, Ahir Salt Industries, China National Salt Industry Corporation, Tata Chemicals Limited, Ankur Salt, Schweizer Salinen, Kutch Brine Chem Industries, and Cargill are the major participants of fortified salts industry.
Author Name : Dhananjay Punekar
Dry animal feed enzymes market to experience lucrative development over 2017-2024, Asia Pacific to spur the regional growth
The growth graph of Animal Feed Enzymes Market is forecast to display an upward trend over the coming years, owing to the growing consumer preference for nutritious diet along with a substantial rise in the disposable incomes across emerging economies. According to the OECD (Organization for Economic Co-operation and Development), the average meat intake per individual across the globe is nearly 75 pounds in a year. This figure is an indication of the growing product popularity across the world. Global Market Insights, Inc., claims that animal feed enzymes industry revenue, which was estimated at USD 1.1 billion in 2016, is anticipated to surpass USD 2 billion by 2024.
U.S. Animal Feed Enzymes Market Size, By Livestock, 2016 & 2024 (Kilotons)
Having said that, Europe animal feed enzymes industry is expected to hit USD 860 million by 2024, growing at a rate of more than 6% over the period of 2017-2024. The heavy presence of key business players in the region along with a robust distribution network is projected to drive the industry landscape. There has also been a significant increase in livestock production and pork consumption across some of the nations in the continent, which are expected to further contribute towards the business revenue. Spain, Russia, and Germany are foreseen to be the major revenue drivers.
Asia Pacific animal feed enzymes market, which collected a revenue of more than USD 220 million in 2016, is predicted to grow at the highest rate of 7.5% over the coming timeline. Growing consciousness regarding livestock diseases coupled with the rapidly flourishing dairy sector is predicted to contribute considerably toward the regional share. High intake of meat across the regions such as China, Japan, and India are expected to push the product demand.
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Implementation of strict legislations regarding food safety along with the high presence of the livestock manufacturing firms is expected to beneficially impact U.S. animal feed enzymes industry landscape. The U.S. consumes a major chunk of fodder additives such as emulsifiers and vitamins, thereby influencing the regional market.
Carbohydrase, non-starch polysaccharides, phytase, and protease are the major animal feed enzyme products. Phytase animal feed enzymes industry, which contributed more than 40% of the overall market share in 2016, is slated to record a cumulative growth rate of nearly 6.5% over the years ahead. High phosphorous content in phytase enhances the digestion and reproductive capabilities of the livestock, leading to escalating demand for the product.
Protease animal feed enzymes industry, which produced a revenue of more than USD 150 million in 2015, is projected to witness a tremendous surge over the next few years. Escalating product need as a protein digesting molecule will fuel the industry growth.
Animal feed enzymes of high nutritional value have the ability to improve the livestock health, owing to which they are fed to ruminants, pigs, and fish. Aquaculture animal feed enzymes market is forecast to grow at an annual rate of 7.5% over the coming timeline. The ever-expanding fishing sector is expected to favorably influence the business space. Poultry, which produced a revenue of more than USD 500 million in 2016, is expected to make substantial contributions toward animal feed enzymes market share. Rising demand for eggs and meat owing to its high protein contents will steer the industry growth.
Ruminants are expected to generate a revenue of more than USD 450 million by 2024 and will significantly influence animal feed enzymes market growth over the coming years. Escalating product requirement for increasing the protein proportion to improve the animal health will spur the industry size. Swine animal feed enzymes industry is anticipated to register a CAGR of more than 6.5% over the span of the next few years, owing to the large intake of pork in the countries such as Indonesia, China, and Thailand.
Animal feed enzymes are available in liquid and dry forms. Exceptional ability to maintain the temperature at the time of fodder processing along with enhanced enzyme activity will spur dry animal feed enzymes market size in the future, which contributed over 75% towards the overall industry size in 2016.
Key participants of animal feed enzymes market include Novozymes, D.D. Williamson & Company Incorporation, Foodchem International Corporation, Flavorchem Corporation, Nutralliance Incorporation, Chr. Hansen A/S, Koninklijke DSM N.V., and BioExtract.
Author Name : Dhananjay Punekar