The Asia Pacific feed enzymes market is projected to register a CAGR of 5.3% over the forecast period (2020-2025). The increasing demand for the animal protein, raising animals population and the vital benefits of the enzymes are correlated with the growth of the market. This positive trend attracts more players to enter the feed enzymes market. Industrialization of the livestock industry has led to the use of artificial feeds which have a large amount of corn and soy as a major protein ingredient in the feed. This has led to increase in the usage of the feed enzymes, attracting many players to the market. However, the investment in R&D is very high that acts as a major restraint preventing small players from entering the market. Asia-Pacific is the largest market for feed enzymes as of 2019 and is projected to remain the largest market, globally, during the forecast period. China and India being a larger market in the Asia-Pacific region, their larger population is one of the major factors for Asia-Pacific remaining as the largest market in the world.
Key Market Trends
Increased Meat and Seafood Consumption
The Asia-Pacific region is the leading compound feed producing and consuming region in the world, thereby inflicting a direct impact on the feed additives market. Demographic change in the Asia-Pacific is primarily characterized with proliferating middle-income households and rising levels of income, that have led to changes in dietary preferences of the population, thereby, resulting in an increased per capita consumption of meat and seafood. With greater awareness among the population regarding the importance of protein-rich diets, an increase in the consumption of animal protein sources is expected. According to the Food and Agricultural Organization’s (FAO) data for the period of 2010-17, fish production in the region increased from 16.02 million ton in 2010 to 17.9 million ton in 2017. Till date, the production, solely from aquaculture, has continued to increase at a steady rate of 5% since 2016. Therefore, livestock and aquaculture yields are expected to improve by way of adoption of better feed management practices and increased use of feed additives such as feed enzymes in the region, thereby driving the market during the forecast period.
China dominates the Feed Enzymes Market
China is one of the largest consumer of feed enzymes in the world. China is also the largest producer and consumer of pork in the Asia Pacific region. Swine cannot digest approximately one fourth of the diet they are fed because the feed ingredients contain undegradable harmful factors that hinder the digestive process. Often, the animal is devoid of the necessary enzymes needed to degrade certain complexes in the feed. Supplementation of feed with enzymes enhances its nutritive value, thereby increasing the effectiveness of digestion. The production of high quantity of pork is a major reason for such a large market of feed enzymes in the country. However, owing to the African Swine Fever (ASF) outbreaks in China, the pig herds reduced significantly during 2018-19, thereby affecting the feed enzymes market adversely. Slow herd replenishment, especially in the swine fever affected regions is contributing to the near time shortfall and resulting in the shortfall of swine feed demand in the country. However, as per the China Feed Industry Association, the swine feed usage is likely to rebound by 5% in the year 2020. Thus, the outbreak of African Swine Fever is likely to act as a catalyst to foster the country’s feed industry upgrades thereby accelerating the feed enzymes sales in the years to come.
Competitive Landscape
The Asia Pacific feed enzymes market is a fragmented market with many players in the market. BASF SE, Chr. Hansen Holding, AB Enzymes and Advanced Enzymes Technologies are few keyl players in the market. These players in the market are taping the market potential by various activities including acquisition of other local companies, investing in their R&D facilities and more. The major investments are directed to product line expansions and innovating new product to retain the existing customer base.
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Key Market Trends
Increased Meat and Seafood Consumption
The Asia-Pacific region is the leading compound feed producing and consuming region in the world, thereby inflicting a direct impact on the feed additives market. Demographic change in the Asia-Pacific is primarily characterized with proliferating middle-income households and rising levels of income, that have led to changes in dietary preferences of the population, thereby, resulting in an increased per capita consumption of meat and seafood. With greater awareness among the population regarding the importance of protein-rich diets, an increase in the consumption of animal protein sources is expected. According to the Food and Agricultural Organization’s (FAO) data for the period of 2010-17, fish production in the region increased from 16.02 million ton in 2010 to 17.9 million ton in 2017. Till date, the production, solely from aquaculture, has continued to increase at a steady rate of 5% since 2016. Therefore, livestock and aquaculture yields are expected to improve by way of adoption of better feed management practices and increased use of feed additives such as feed enzymes in the region, thereby driving the market during the forecast period.
China dominates the Feed Enzymes Market
China is one of the largest consumer of feed enzymes in the world. China is also the largest producer and consumer of pork in the Asia Pacific region. Swine cannot digest approximately one fourth of the diet they are fed because the feed ingredients contain undegradable harmful factors that hinder the digestive process. Often, the animal is devoid of the necessary enzymes needed to degrade certain complexes in the feed. Supplementation of feed with enzymes enhances its nutritive value, thereby increasing the effectiveness of digestion. The production of high quantity of pork is a major reason for such a large market of feed enzymes in the country. However, owing to the African Swine Fever (ASF) outbreaks in China, the pig herds reduced significantly during 2018-19, thereby affecting the feed enzymes market adversely. Slow herd replenishment, especially in the swine fever affected regions is contributing to the near time shortfall and resulting in the shortfall of swine feed demand in the country. However, as per the China Feed Industry Association, the swine feed usage is likely to rebound by 5% in the year 2020. Thus, the outbreak of African Swine Fever is likely to act as a catalyst to foster the country’s feed industry upgrades thereby accelerating the feed enzymes sales in the years to come.
Competitive Landscape
The Asia Pacific feed enzymes market is a fragmented market with many players in the market. BASF SE, Chr. Hansen Holding, AB Enzymes and Advanced Enzymes Technologies are few keyl players in the market. These players in the market are taping the market potential by various activities including acquisition of other local companies, investing in their R&D facilities and more. The major investments are directed to product line expansions and innovating new product to retain the existing customer base.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ab Enzymes Gmbh
- Advanced Enzymes Technologies
- Adisseo
- BASF SE
- Biovet Jsc
- Biocatalysts
- Chr. Hansen Holding
- Danisco
- Novozymes
- Koninklijke DSM N.V
Methodology
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