Phytase is an enzyme that helps in increasing phosphorus in the diets of livestock and also aids in improving digestion and animal health. In addition, adequate infusion of phosphorus in animal diet results in healthy reproduction in livestock, whereas, lack of phosphorus increases the prevalence of metabolic disorders. Globally, the number of livestock is multiplying rapidly, which is likely to boost the demand for phytase in the coming years.
With increasing adoption of domestic animal, rising disposable income, and rapidly growing commercial cattle farming, the demand for animal feed is witnessing a significant growth. For instance, the population of cows is around 250 million worldwide, Compassion in World Farming.
Growing consumption of beef is providing several opportunities for manufacturers to bridge the demand and supply gap in the leading markets. According to the United States Department of Agriculture, beef exports accounted for 10.6 million tons in 2018 from Brazil, Argentina, and the U.S.
Global animal feed phytase market was valued at USD 436.99 million in 2018 and is expected to grow at a CAGR of 5.7% during the forecast period, 2019–2026.
Global animal feed phytase market is segmented into type and application and sales channel.
Based on type, the global animal feed phytase market is segmented into granular phytases, powder phytases, liquid phytases, and thermostable phytases. Powder phytases segment is expected to hold major market share and was valued at USD 169.33 million in 2018. Powder phytase is widely used in animal feed in the poultry and swine industry for increasing digestibility. It is a free-flowing, thermostable powder and suitable for pelleting temperatures up to 70o C.
Based on application, the market is segmented into swine, poultry, ruminants, aquatic animals, and others. Poultry segment is expected to fasted growing segment during forecast period. Poultry segment is growing at a CAGR of 5.9% during the forecast period 2019–2026. Phytase enriched diet for poultry helps in efficient utilization of phosphorous by reducing the level of phosphorous excretion. Improved phosphorous utilization strengthens the bone and teeth and overall poultry health.
Geographically, the global Animal Feed Phytase Market is segmented into four North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America is expected to hold major market share during the forecast period. This is attributed to it is widely used in around 90% of poultry and 70% of pig diets. Domestic animals continuously contribute to global food supply, as a result animal feeds have become a critical component. Furthermore, Meat and poultry are the largest industries in the U.S. agriculture sector. In 2017, the meat production generated around USD 64.4 billion, whereas, poultry generated around USD 59.4 billion in 2017, the North American Meat Institute. In addition, established infrastructure in the region has also contributed to the increased production of animal feed. This is further supported by well-established presence of feed manufacturers in the region. According to the American Feed Industry Association, around 5,715 animal feed mills were present in the U.S. till 2017 and the number is increasing to cater to the growing demand for meat, milk, and dairy products. Moreover, the Animal Nutrition Association of Canada has estimated that Canada produces over 30 million tons of feed annually. In addition, the commercial feed industry generates net revenue of around USD 4 billion per year.
Europe is expected to second leading region for animal feed phytase market. Increased demand from rapidly growing economies for animals derived food has flourished the overall livestock production in the region. Moreover, increasing understanding about protein nutrition in feed formulation for livestock is gaining importance among consumers. In 2017, meat and other animal products in the EU accounted for around 41% of the total value of the farm production, the European Feed Manufacturers' Federation (FEFAC). Europe is the largest compound feed producers worldwide, the International Feed Industry Federation. EU produced 45.2 million tons of meat in 2017, the Eurostat and Germany was the leading cattle and pig feed producer while France dominated the poultry feed producing segment
Some of the key players of global Animal Feed Phytase Market include BASF SE(Germany), DuPont(U.S.), DSM(The Netherlands), AB Enzymes(Germany), Beijing Smistyle Sci. & Tech. Development Co., Ltd. (China), Jinan Tiantianxiang Co., Ltd. (China), Guangdong VTR Bio-Tech Co., Ltd. (China), Huvepharma( Bulgaria), Novozymes( Denmark), Qingdao Vland Biotech INC.(China), Kemin Industries, Inc.(U.S.), Adisseo(France)
|Market Size||USD in Billion By 2030|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
|Segments Covered||by Types (Granular Phytases, Powder Phytases and Thermostable Phytases) Application (Swine, Poultry, Aquatic Animals)|
|Geographies Covered||North America, Europe, Asia-Pacific, LAME and Rest of the World|
|Key Companies Profiled/Vendors||BASF SE(Germany), DuPont(U.S.), DSM(The Netherlands), AB Enzymes(Germany), Beijing Smistyle Sci. & Tech. Development Co., Ltd. (China), Jinan Tiantianxiang Co., Ltd. (China), Guangdong VTR Bio-Tech Co., Ltd. (China), Huvepharma( Bulgaria), Novozymes( Denmark), Qingdao Vland Biotech INC.(China), Kemin Industries, Inc.(U.S.), and Adisseo(France)|
|Key Market Opportunities||Rapid Growth In Food & Beverages Industry Enhances Animal Feed Phytase Market|