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Report Overview
The global feed enzymes marketattained a value of USD 1.51 billion in 2023. It is projected to attain a value of USD 2.32 billion by 2032, growing at a CAGR of 7.4% in the forecast period of 2024-2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Feed Enzymes Market Size
The global feed enzymes market attained a value of USD 1.51 billion in 2023. It is projected to attain a value of USD 2.32 billion by 2032, growing at a CAGR of 7.4% in the forecast period of 2024-2032.
Feed Enzymes Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global feed enzymes market attained a value of more than USD 1.51 billion in 2023.
The market is expected to grow at a CAGR of about 7.4% in the forecast period of 2024-2032.
The market is expected to expand in the forecast period to reach a value of USD 2.32 billion by 2032.
The major drivers of the market include rising meat consumption, ban on antibiotics as growth promoters, added health benefits, rising disposable incomes, and increasing population.
The rising demand for the animal protein, increasing animals’ population, and advantages of the enzymes are expected to define the growth of the market in the coming years.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.
Carbohydrase and protease are the leading enzymes that act as additives to animal feed and are expected to witness rapid growth in the forecast period.
The leading application segments in the market are ruminants, poultry, swine, and aquaculture.
The significant forms of food enzymes in the market are dry and liquid form.
The major players in the market are Novozymes Inc., Koninklijke DSM N.V., Nutrition and Bioscience group of companies (International Flavors & Fragrances Inc.), Archer Daniels Midland Company, BASF SE, Novus International, Inc., BioResource International, Inc., Bioproton, AVEVE Biochem NV, VEMO 99 Ltd., Palital Feed Additives B.V., Bioseutica B.V., AB Enzymes GmbH.
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