Animal Feed Phytase Market Status and Outlook 2030

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Animal Feed Phytase Market to Grow at over 6.5
CAGR from 2022 to 2030 Global Market Insights,
Inc.
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Overview of Animal Feed Phytase Market

• The animal feed phytase market is foreseen to
  depict sizable expansion through 2030 owing to
  rising consumer demand for swine and poultry
  products. In addition, the massive product
  penetration in the dairy industry is likely to
  propel market growth over the forecast years.
• The COVID-19 pandemic disrupted the global supply
  chain, encouraging businesses to secure and
  sustain their supply networks to ensure effective
  distribution around all regions by entering into
  supply chain agreements with dealers and
  distributors. For instance, in August 2020, AB
  Enzymes, an industrial biotech company, inked an
  exclusive distribution agreement with chemical
  distribution firms Dewolf HIC and Azelis Canada.
  The agreement helped the company expand its
  business presence in the U.S. and Canada.
• Moreover, key participants in the animal feed
  phytase market are majorly focusing on innovating
  new products, engaging in rigorous RD, and
  adopting effective growth strategies, such as
  acquisitions and collaborations, to maintain
  their market stance, thereby impelling overall
  industry outlook. For instance, in May 2022,
  Novus International, a U.S.-based animal health
  nutrition company, announced the opening of its
  new corporate office in India. With this move,
  the company aimed to widen its customer base and
  boost its growth.

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• The animal feed phytase market has been
  bifurcated in terms of form, class, source,
  livestock, and region.
• With respect to class, the animal feed phytase
  industry has been classified into 3-phytase,
  6-phytase, and others. The 3-phytase segment was
  valued at about 75 million in 2021 and is
  anticipated to showcase remarkable growth in the
  forthcoming years. 3-phytases resemble
  B-propeller phosphatases or histidine acid
  phosphatases structurally.
• On the basis of livestock, the animal feed
  phytase market has been categorized into poultry,
  swine, cattle, aquaculture, and others. The
  aquaculture segment was valued at roughly 25
  million in 2021 and is speculated to grow at more
  than 7 CAGR over 2022-2030. Burgeoning demand
  for fishmeal from consumers around the world is
  augmenting product adoption. Moreover, surging
  number of fisheries and rising demand for seafood
  are encouraging aquaculture farmers to opt for
  phytase to improve the growth performance,
  nutrient utilization, and bioavailability of
  macro and micro minerals in fish.

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• In the regional context, the Latin America animal
  feed phytase market is primed to witness steady
  growth at above 7 CAGR over the study period.
  The flourishing agricultural and animal husbandry
  industries as well as high meat consumption in
  the LATAM region are set to foster regional
  growth.
• Meanwhile, the animal feed phytase industry in
  North America is expected to progress at over
  6.5 CAGR between 2022 and 2030. Consistent
  investments in RD for product innovations, along
  with a positive outlook toward industrial
  livestock business, are poised to elevate
  regional growth.Notable participants in the
  Animal Feed Phytase market include AB Enzymes
  (Associated British Foods PLC), Alltech, BASF SE,
  Novozymes, Novus International, Adisseo, DuPont,
  and DSM

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