- Histidine Acid Phosphatases (HAPs)
- B propeller Phytases
- Purple Acid Phosphatases
- Protein Tyrosine Phosphatase like Phytases
Animal Feed Phytases Market size was valued at USD 620.3 million in 2022 and is anticipated to grow at a CAGR of 6.8% over 2023-2029. Animal feed phytases are enzymes that are added to mono-gastric animal feed to help improve the digestion and utilization of phytic acid, a naturally occurring compound found in many plant-based feed ingredients. Phytic acid, also known as phytate, is an antinutritional factor that binds to essential minerals like calcium, phosphorus, zinc, and iron, rendering them less available for absorption by animals. This can lead to mineral deficiencies and reduced feed efficiency. Phytases in animal feed break down phytic acid, releasing minerals for better absorption, and promoting growth, bone development, and health in mono-gastric farm animals such as poultry and swine. The growing demand for meat and poultry products is a significant driver behind the growth of the animal feed phytases market. As global populations increase and dietary preferences shift towards protein-rich diets, the meat and poultry industry is facing greater pressure to meet this rising demand. To achieve higher yields and production efficiency, livestock and poultry producers are increasingly seeking solutions to optimize feed utilization and enhance animal health. By incorporating phytases into animal diets, producers can ensure that animals derive maximum nutritional benefits from their feed, leading to improved growth rates, enhanced feed conversion ratios, and better overall performance.
Moreover, regulatory guidelines focused on improved animal health play a crucial role in driving revenues for the animal feed phytases market. As governments and regulatory bodies emphasize the well-being of livestock and poultry, they set standards that mandate optimal nutrient utilization and the reduction of environmental impacts. Animal feed phytases align perfectly with these objectives by enhancing mineral absorption, leading to better bone development, immune function, and overall animal health. However, fluctuations in raw material prices, adoption of natural feed products in rural areas, and stringent regulations for product approval are anticipated to restrain the growth of the market. Meanwhile, expanding livestock and poultry industries further creates potential opportunities for the growth of the animal feed phytases market. Key manufacturers are developing innovative solutions to cater to the livestock sector. For example, in January 2022 DSM-Novozymes Alliance launched its new generation phytase, HiPhorius, to help poultry producers achieve sustainable and profitable protein production.
Animal Feed Phytases Market Key Developments:
Fastest Growing Market
Adoption of feed phytase products due to wide benefits with the products is a key factor surge the growth of global feed phytases market over the forecast years. Monogastric animals such as pigs lack sufficient phytases to release phosphorous. Addition of phytase products to feed may improve the phytate breakdown capacity and consequent utilization of plant phosphorous. Moreover, the additional benefits with the phytase especially for aquaculture species also surge the consumption of feed phytase products in the near future. For instance, in October 2018, the research conducted by AB Vista and it demonstrated that phytase offers threefold benefit for tilapia producers by improving the performance, profitability, and sustainability. However, high cost of products and usage of feed phytases for limited species may hamper the growth of the market over the forecast timeframe
The animal feed phytases market size was valued at USD 620.3 million in 2022
Expanding livestock sectors and increasing awareness among consumers are some of the key opportunities for companies to enhance their revenue over the forecast years
Developing phytase products tailored to different animal species, ages, and diets is one of the major trends in the animal feed phytases market.