The global animal feed enzymes market is experiencing a significant growth, and will grow considerably in next few years increasing health concerns about the outbreak of several animal diseases. Swine and poultry are unable to digest approximately 25% of the diet they are given because the feed ingredients have some non-degradable harmful elements that restrict the digestive process and the animals lack the necessary enzymes required to degrade those complexes in the feed. Enzymes are proteins that help breakdown, digestion, and absorption of those naturally occurring elements like fiber and phytate in various feed ingredients. Providing enzyme supplement to the livestock helps to produce more meat stuff per animal at a very low cost and also improve the overall health of the livestock for the long term, which increases the profit margin of the poultry farmer or owner. Mortality rate among the livestock decline by giving animal feed enzymes to the animals.
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COVID-19 Scenario Analysis
The COVID-19 outbreak has impacted different industries differently. On the one hand, it has been a growth driver for food, medical and necessity products, and on the other hand it has hampered the growth of pet and livestock products. Although the negative impact of COVID-19 seen in this market is not as serious as it is experienced in other markets. There has been a shift in consumer’s behavior regarding pet toys and accessories products in the wake of COVID-19. The discretionary spending has reduced and people are inclined more toward safe and reliable products for their pets. Moreover, the outbreak has caused impaired supply chain among the industries. The lockdown has caused unavailability of raw materials and lack of labors due to which the production of pet toys products has been hampered.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in the production of the livestock like poultry, swine, and fish has resulted in the upsurge in the demand of animal feed enzymes products. Rising need for feed ingredients, which help in enhancing the quality of livestock is giving momentum to the market. Various health benefits offered by animal feed enzymes such as improving energy level and enhancing metabolism rate are further propelling the growth of the market.
In addition, prevalence of various food-borne diseases among animal is increasing the demand of the animal feed enzyme products.
The easy availability and economic rate of animal feed enzyme increases the profitability, which is further giving traction to the market.
Manufacturers are increasingly adopting nanotechnology to boost production of feed enzyme during the forecast period.
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New product launches to flourish the market
New products that exhibit improved capabilities have been launched by leading market players. Manufacturers have been focusing on producing new enzymes products for specific applications as there are varying demands based on the utilization. For instance, in September 2019, DuPont Animal Nutrition, a business unit of DuPont Nutrition & Biosciences (DuPont), launched of Axtra PHY in Japan which is a fast-acting phytase enzyme that is designed to enhance animal performance and reduce phosphorus waste.
Key Benefits of the Report
- This study presents the analytical depiction of the global animal feed enzymes industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global animal feed enzymes market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global animal feed enzymes market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global animal feed enzymes market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Animal feed enzymes Market Research Report:
- Which are the leading players active in the animal feed enzymes market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
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