Newark, NJ, May 30, 2022 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, The global feed enzymes market is expected to grow from USD 1.31 billion in 2019 to USD 2.64 billion by 2027, at a CAGR of 9.2% during the forecast period 2020-2027. Asia-Pacific region is expected to dominate the market and portray the highest growth rate during the forecast period. China and India have the largest share in the area due to high population. The rise in the demand for meat in the region and also increase in awareness regarding safe nutrition practices of animals has driven the growth of the market in the region. Europe and North America have the second and third largest share across the globe. The end-user industry is strong in both the regions with proper distribution channels driving the growth of the market.
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The leading players of the market include Danisco A/S, Novozymes, BASF SE, ENMEX S.A. de C.V., Royal DSM N.V., Advanced Enzymes, Elanco, Adisseo, BioResource International, Inc., AB Vista, and Beldem S.A. The companies are adopting strategies like innovation and development, expansion of market, partnerships, mergers and acquisitions. In 2018, Qingdao Vland Biotech Group signed an agreement with Archer Daniels Midland Co. for research and development of enzymes for its application in animal feed. BASF SE has also invested huge amounts in its research and development…
