In 2014, Europe was the largest feed enzymes market. The rest of the world market for feed enzymes is projected to grow at the highest CAGR of around 8.8% from 2014 to 2019. The Asia-Pacific market is estimated to have the second-highest CAGR of 7.6% from 2014 to 2019. Feed enzymes are obtained through natural sources and have become the most important part of the livestock's feed. They are increasingly used in markets where the consumption of feed is increasing. The invention of high- and rich-quality feed enzymes is an opportunity for the key players to innovate and bring changes in their current product portfolio.
The feed enzymes market is driven by the consumption habits of the consumers, marketing strategies of the companies, an increase in demand for high feed enzymes, consumer awareness, and the developing economies. The key market players adopt collaborations, agreements, acquisitions, and expansions as their preferred strategy to sustain the competition in the market. The different technologies used to manufacture feed enzymes have further driven the market. The report provides a qualitative and quantitative analysis of the feed enzymes market. The report includes the market dynamics, trends, competitive strategies preferred by the key market players, the driving factors that boosted the feed enzymes market, and the restraints of the market.
To maintain a competitive edge in the feed enzymes market, the key players invest heavily in the development of new innovative products. The key players of the market were observed to prefer acquisitions, new product developments, collaborations, and expansions as strategies to garner a larger share in the market. Companies like Lesaffre Group, BASF SE, ABF PLC, Alltech Inc., Adisseo France S.A.S., Advanced Enzymes Technologies, CHR. Hansen Holding A/S, Danisco A/S, and Novozymes A/S are profiled in this research.