The global animal feed phytase market is experiencing significant growth, driven by the increasing demand for high-quality animal protein and the need to improve the efficiency of animal feed utilization. Phytase is an enzyme that plays a critical role in improving the digestibility of phytate, a phosphorus-containing compound found in plant-based feeds. It helps in breaking down phytate and liberating phosphorus, making it available for absorption by animals.
According to a recent market research report, the global animal feed phytase market is expected to grow at a CAGR of 6.3% during the forecast period of 2021 to 2026. The market is expected to reach a value of $978.5 million by 2026, up from $671.4 million in 2020. This growth can be attributed to several factors, including the increasing demand for high-quality animal protein, the need to reduce the environmental impact of animal production, and the growing awareness among livestock producers about the benefits of using phytase supplements in animal feed.
The market is dominated by a few major players, including DSM, BASF SE, DuPont, Adisseo, AB Enzymes, Novozymes, and Chr. Hansen Holding A/S. These companies account for a significant share of the global market, owing to their strong distribution networks, extensive product portfolios, and focus on research and development.
The global animal feed phytase market is segmented by type, form, source, livestock, and region. By type, the market is divided into 5-phytase, 6-phytase, and others. The 5-phytase segment accounts for the largest share of the market, owing to its high efficacy and broad range of applications. By form, the market is divided into dry and liquid. The dry segment accounts for the largest share of the market, owing to its ease of handling and storage. By source, the market is divided into microbial, plant, and others. The microbial segment accounts for the largest share of the market, owing to its high efficacy and ease of production. By livestock, the market is divided into poultry, swine, ruminants, aquaculture, and others. The poultry segment accounts for the largest share of the market, owing to the high demand for poultry products and the increasing use of phytase supplements in poultry feed.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific accounts for the largest share of the market, owing to the high demand for animal protein and the increasing adoption of phytase supplements in animal feed. China, India, and Japan are the major contributors to the growth of the market in this region.
Several factors are driving the growth of the global animal feed phytase market. One of the major factors is the increasing demand for high-quality animal protein. As the world population continues to grow, the demand for animal protein is increasing, and producers are under pressure to produce more with limited resources. Phytase supplements help in improving the efficiency of animal feed utilization, reducing the amount of phosphorus needed in animal feed, and lowering the environmental impact of animal production.
Another factor driving the growth of the market is the increasing awareness among livestock producers about the benefits of using phytase supplements in animal feed. Livestock producers are becoming more aware of the importance of animal nutrition and are looking for ways to improve the efficiency of animal feed utilization. Phytase supplements are a cost-effective way to improve the digestibility of phytate and improve the nutritional value of animal feed.
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