Yahoo Finance Animal Feed Phytase Market to Hit $905Mn by 2030, says Global Market Insights Inc.
Some of the major players operating in the animal feed phytase industry are AB Enzymes (Associated British Foods PLC), Alltech, BASF SE, Novozymes, Novus International, Adisseo, DuPont, and DSM.
Selbyville, Delaware, Oct. 05, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Animal Feed Phytase Market size is expected to cross USD 905 million by 2030.
Rising consumption of processed food is projected to drive the animal feed phytase industry trends. Moreover, growing concerns associated with animal health, along with increased research emphasis on exploring the benefits of feed phytase on animal health, are foreseen to increase the demand for feed phytase
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The absence of standardized norms is estimated to hamper animal feed phytase market growth in the coming years, cites the report. Moreover, the phytate complex releases phosphorus, calcium, and other cations. Since laying hens need to metabolize a lot of calcium to make their eggshells, a surge in the calcium-to-phosphorous ratio can hamper their performance, thereby impeding product penetration. However, growing knowledge among animal owners regarding the digestibility of feed phytase in livestock, coupled with advancements in phytase feed products, is likely to aid market players in effectively addressing these concerns in the future.
Widespread utilization of mash feeds to push the demand for powder feed phytase
Based on form, the report segregates the animal feed phytase market into liquid and granules or powder. The powder or granules segment is set to depict considerable growth over 2022-2030 due to extensive usage of uncoated powder formulations for all mash feeds. Powder feed phytases are widely utilized in various livestock, particularly pigs and poultry, as they improve their gut activity, and are also considered suitable for pelleting at temperatures up to 70°C. Propelled by these factors, the segment is anticipated to grow at a CAGR of over 6% through the analysis timeline.
3-phytase segment to depict an appreciable growth
Animal feed phytase market share from the 3-phytase class segment is expected to showcase robust progress in the coming years. The segment growth is attributed to mounting investments in product development and innovation. 3-phytases are primarily available in bacteria & fungus, which are presently the largest phytase category. Driven by promising technological advancements, the 3-phytase segment is set to expand at 7% CAGR from 2022 to 2030.
Browse key industry insights spread across 450 pages with 280 market data tables & 20 figures & charts from the report, “Animal Feed Phytase Market Size By Form (Liquid, Granules or Powder), By Class (3-Phytase, 6-Phytase), By Source (Plants, Microorganisms), By Livestock (Poultry [Broiler, Layer, Turkey], Swine [Starter, Grower, Sow], Cattle [Dairy, Calf], Aquaculture [Salmon, Trout, Shrimp]), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/animal-feed-phytase-market
Prevalent use in phytase production to augment microorganisms adoption
Animal feed phytase market from the microorganisms source was valued at USD 395 Million in 2021 and is likely to grow at a CAGR of over 6% through the review timeline. The yeasts Aspergillus ficuum, Aspergillus fumigatus, Aspergillus niger, and S. cerevisiae are strains that are broadly employed for the industrial production of phytases. Microbial phytases offer numerous advantages, such as superior stability in highly reactive environments, cost-efficiency, elevated production capacity, among others, which are fueling their uptake in animal feed applications.
Industrialization of cattle products to boost cattle livestock segment expansion
Animal feed phytase market outlook for cattle livestock was worth USD 110 million in 2021 and is projected to grow at a CAGR of more than 6.5% over the assessment period. Exogenous phytase finds extensive usage in dairy and beef cattle to increase phytic acid digestion. In addition, the rapid industrialization of cattle products, including meat and dairy products, coupled with the rising population, is expected to further promote segment growth.
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Asia Pacific industry to benefit from increased investments in feed manufacturing
Animal feed phytase market in Asia Pacific is estimated to grow at a CAGR of over 6.5% through the study timeline. The presence of major manufacturing plants in the APAC region is a key factor pushing regional market statistics. In addition, China and India are the leading feed producers backed by favorable investment by industry participants. Moreover, reduced labor costs and low risk of procuring raw materials are positively influencing the APAC industry outlook.
Product innovation to remain a major growth strategy
Competitive landscape of the animal feed phytase market includes AB Enzymes (Associated British Foods PLC), Alltech, BASF SE, Novozymes, Novus International, Adisseo, Dupont, and DSM, among others. These companies are focusing on product development and strategic collaborations & merger to strengthen their business standing and extend their customer reach.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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