Higher preference for dry formulations is given over the liquid-based additives, due to various factors that include good thermal stability, increased enzyme activity and ease of handling. Dry formulations are generally available in pellet and powdered grades in the industry. This category is expected to witness high penetration in poultry and ruminant applications during the forecast period.
Application Insights
Enzymes are used in livestock fodder for various livestock categories including pigs, poultry, ruminant, pets, equine and aqua. Poultry held the highest market share, constituting 43.9 % of the total industry in 2015. Enzymes help to enhance the nutritional value of poultry foodstuffs, minimize the quantity of anti-nutritive elements and promote weight gain among livestock.
The use of these products in the ruminant and pig feed sectors is likely to boost their consumption rate, as they improve animal health, amplify the utilization of nutrients, and digestibility.
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Regional Insights
Europe was the largest consumer accounting for 32.2 % share in 2015. Key countries in the region including Spain are likely to witness significant market growth in the coming years. At present, Spain and Germany are a few of the highest producers of livestock in the region.
North America held the second-largest share, followed by Asia Pacific. Existence of a well-established end-user industry and a channelized distribution network, are the major supporting factors of the industry in North America. Eastern European countries, including Russia, are likely to witness a fastpaced growth on account of rising pork consumption and livestock production.
Asia Pacific is likely to illustrate fastest growth, owing to the socio-economic factors such as increasing meat consumption in India, China and other Southeast Asian countries. Moreover, there is a rising awareness of livestock diseases, which has led to the implementation of harmless animal nutrition practices in these countries. This in turn is expected to drive the demand for various animal feed products in the region.