Animal Feed Phytase Market Key Players Analysis - lltech, BASF SE, Novozymes, Novus International, Adisseo, DuPont.

Insight Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Animal Feed Phytase Market (Form (Liquid And Granules Or Powder), Class (3-Phytase, 6-Phytase And Others), Source (Plants And Microorganisms) And Livestock (Poultry (Broiler, Layer, Turkey, Others), Swine (Starter, Grower, Sow), Cattle (Dairy, Calf, Others), Aquaculture (Salmon, Trout, Shrimp, Others) And Others))- Market Outlook And Industry Analysis 2030"

The global animal feed phytase market is estimated to reach over USD 881.30 billion by 2030, exhibiting a CAGR of 6.13% during the forecast period.

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Phytase enzyme helps livestock producers add more phosphorus to their diets while enhancing animal health and digestion. Additionally, healthy reproduction in cattle results from an appropriate phosphorus intake in the food, whereas a deficiency in phosphorus increases the prevalence of metabolic problems. The world's livestock population is expanding quickly, which is projected to increase phytase demand in the upcoming years. The need for animal feed is rising significantly due to growing domestic animal adoption, rising disposable income, and expanding commercial cow production. For instance, Compassion in World Farming estimates about 250 million cows worldwide. Due to increasing beef consumption, numerous opportunities are opening up for producers to close the supply and demand gaps in the top markets. Additionally, rising concerns about animal health and increased research focus on the advantages of feed phytase for animal health are anticipated to boost demand for feed phytase.

List of Prominent Players in the Animal Feed Phytase Market:
AB Enzymes (Associated British Foods PLC)
Alltech
BASF SE
Novozymes
Novus International
Adisseo
DuPont
DSM

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Market Dynamics:
Drivers-
A significant shift in people's attitudes from treatment to prevention can be seen as health knowledge among the population grows. People's ability to buy more drives demand for foods high in protein and carbohydrates. Rapidly expanding commercial cow farming, increased need for cost-effective animal food enzymes, and rising consumption of poultry and swine products are expected to develop significantly during the projection period.

Challenges:
The increasing occurrence of illnesses like the swine flu can be both a challenge and a cause for change. People may consume less meat and other poultry products to protect their safety, which could impede the market's expansion. In addition, the supply chain and demand may be disrupted due to countries going into lockdowns once more due to virus mutations.

Regional Trends:
The North American animal feed phytase market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly, attributable to the region's developing demand for feed products made with nutritious protein. The rising cattle population in the region's nations boosts market revenue growth. By 2020, there will be over 93.8 million cows and calves in the United States alone. As a result, the region's governments are raising their livestock populations, increasing the demand for phytase, an ingredient in animal feed. Besides, the Asia Pacific is anticipated to grow at a significant rate. It is projected that the growing processed food and fast food businesses, along with a shift in customer preferences toward ready-to-eat foods, will have a favorable impact on the local aquaculture industry, supporting the expansion of the animal feed phytase market in this region.

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Recent Developments:
• In Jan 2022, BASF has increased the capacity of its enzymes unit in Ludwigshafen, Germany. BASF has greatly increased the annual number of feasible fermentation runs by expanding the current plant. The increased production capacity enables BASF to meet the growing global demand from clients for a consistent supply of high-quality BASF feed enzymes Natuphos® E (phytase), Natugrain® TS (xylanase and glucanase), and the recently launched Natupulse® TS (mannanase).

Segmentation of Animal Feed Phytase Market-
By Form-
• Liquid
• Granules or Powder
By Class-
• 3-Phytase
• 6-Phytase
• Others
By Source-
• Plants
• Microorganisms
By Livestock
• Poultry
o Broiler
o Layer
o Turkey
o Others
• Swine
o Starter
o Grower
o Sow
• Cattle
o Dairy
o Calf
o Others
• Aquaculture
o Salmon
o Trout
o Shrimp
o Others
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.