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Animal Feed Phytase Market Size

  • Report ID: GMI5363
  • Published Date: Jan 2024
  • Report Format: PDF

Animal Feed Phytase Market Size

Animal Feed Phytase Market size was valued at USD 580.56 million in 2023 and is estimated to grow at 6.6% CAGR from 2024 to 2032. The manufacture and supply of phytase enzymes used in animal feed is the primary focus of the market.

 

Animal Feed Phytase Market

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Phytase is an enzyme that assists in the breakdown of phytic acid, a type of phosphorus that mammals cannot readily absorb. Phytase expands the feed’s nutritional content by converting an indigestible form into a digestible one, allowing for greater phosphorus absorption in animals, which is critical for their growth and bone building. The phytase use in animal feed also helps to preserve the environment by reducing phosphorus waste production.
 

The animal feed phytase market is acquiring as the livestock sector grows and there is a greater need for sustainable agricultural techniques. Technological developments in enzyme synthesis have boosted the market even further, optimizing feed cost-efficiency and satisfying the strict quality criteria of the global animal feed sector.
 

The animal feed phytase industry has considerable challenges due to the absence of standardized regulatory norms. Manufacturers suffer uncertainty and complexity in complying without global standards, potentially leading to market fragmentation. This heterogeneity has the potential to impact product approval delays, generate unequal competitive landscapes, and discourage investment in new product development. Furthermore, regulatory differences may result in trade restrictions, disrupting global distribution and perhaps contributing to supply chain inefficiencies. Harmonized laws that stimulate innovation while assuring safety and efficacy are critical for the industry to thrive.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of animal feed phytase was over USD 580.56 million in 2023 and is projected to reach USD 1.05 billion by 2032, propelled by the ongoing expansion of the livestock sector and the rising need for sustainable agricultural techniques.

Animal feed phytase granules or powder market size was USD 435.6 million in 2023, attributed to their ease of incorporation into premixes and feeds, stability during storage and handling, and compatibility with a wide range of feed processing procedures.

U.S. market generated USD 26.66 million in revenue in 2023, owing to the presence of the substantial livestock industry and advanced agricultural practices.

Some of the major market players are AB Enzymes (Associated British Foods PLC), DSM, Alltech, BASF SE, Novozymes, Novus International, Adisseo, DuPont, Jinan Tiantianxiang (TTX), Vland Biotech Group, Qingdao Vland Biotech INC, and Kemin Industries Inc.

Animal Feed Phytase Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 261
  • Countries covered: 24
  • Pages: 180
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