Animal Feed Phytase Market size is estimated to surpass USD 905 million in revenue by 2030, as per a new research report announced by Global Market Insights Inc.
Escalating demand for cost-effective food enzymes for animals and rising uptake of poultry & swine products as the chief drivers of the animal feed phytase industry. As phytase can reduce the negative environmental effects of phosphorous contamination, it is gaining prominence in regions such as Europe and North America for animal feed applications.
Cost efficiency of powder phytase to stimulate industry share
With respect to form, animal feed phytase market into liquid and granules or powder. The granules or powder segment was worth USD 390 million in 2021 and is set to grow significantly as it is economically appealing and provides good stability in base mixtures and premixes. Additionally, powder phytase separates into soluble amino acids, allowing easy digestion and a high rate of animal absorption, which is boosting its uptake in animal feed for poultry and pigs.
Rising animal health concerns to push others feed phytase demand
The report further cites heavy demand for other phytases, which include 5-phytase and similar class phytase, across the animal feed industry. The animal feed phytase market size from the others segment is estimated to depict notable growth at more than 5% CAGR through the study timeline. In light of soaring concerns associated with animal health & nutrition, manufacturers are seeking new and untapped sources for product development, which is expected to enhance consumer interest in these phytases.
Microorganisms-sourced phytase to depict remarkable growth
Microorganisms source segment was valued at USD 395 million in 2021 and is projected to witness steady progress over the forecast years. Microbial phytases offer several advantages, such as they are low-cost, offer excellent stability in highly reactive environments, have higher production capacity, and are readily controllable in the lab. They are the most extensively used exogenous enzyme for feeding monogastric animals, which is foreseen to favor the growth of the segment.
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:
Health benefits of phytase to augment product penetration in swine feed industry
The deployment of feed phytase for use in swine diets is foreseen to remain high in the forthcoming years. The animal feed phytase market share from the swine livestock segment reached USD 135 million in revenue in 2021 and is anticipated to grow at a CAGR of more than 6% over 2022-2030. Feed phytase utilized in swine diets promotes phosphorous digestibility and mitigates phytate's antinutritional effects. Growing penetration of technologies to reduce environmental footprint and addressing prevalent concerns is foreseen to strengthen product adoption. The rising demand for swine feed in the Asia Pacific region, especially in China, is also promoting product utilization.
High fish consumption to support Middle East & Africa industry expansion
Middle East & Africa animal feed phytase market is slated to progress at a CAGR of over 7.5% through the forecast timeline. The region is likely to emerge as a major hub for this industry owing to the substantial growth of the aquaculture feed phytase industry, which is driven by massive consumption of fish and fish products, mass production, and limited availability of marine feed resources in the MEA region.
Rigorous research and development to remain a key growth strategy
Competitive landscape of the animal feed phytase market is expected to witness a series of product diversification, strategic acquisitions & mergers, prominent R&D activities, collaborative efforts with private companies by industry players.