Feed Phytase Market: Product (Histidine Acid Phosphatases (HAPs), B propeller Phytases, Purple Acid Phosphatases, Protein Tyrosine Phosphatase like Phytases, and Others), By Animal (Swine, Poultry, Ruminants, Aquatic Animals, and Others), and Geography    

Feed Phytase Market Size is estimated to be valued at USD 592.5 million in 2022 and is poised to grow at a significant CAGR of 6.3% over 2023-2029 owing to the growing population, the demand for meat products increases in developing countries as well as developed countries, increasing demand of animal feed enzymes because increases number of poultry farms and another livestock husbandry are the factors driving the growth of the market. The global feed enzyme industry is expected to be impacted by the recent COVID-19 pandemic. Because of a scarcity of enzymes, the entire supply chain is thrown off. Despite relatively stable feed demand, the COVID-19 pandemic has had a significant impact on feed supply. Phytase is an enzyme that enhances the digestion of phytate phosphorus, hence increasing dietary phosphorus availability. Phosphorus is a key component in animal metabolism and in the growth and production of cattle. Phosphorus is generally stored in diverse feedstocks as phytic acid, which is mostly unavailable to swine and poultry animals. As a result, typically inorganic phosphates are added to suit these animals' phosphorous requirements, at an extra cost. Adding phytase-based enzymes to swine and poultry feed eliminates this problem by allowing them to digest the phytate-bound phosphorus in plants. Furthermore, as worries about the environmental effect of inorganic phosphorous gain traction, phytase-based enzymes are becoming more popular.

The Feed Phytase Market Key Market Developments :

• In March 2022 - AB Enzymes expanded its animal feed additive portfolio. They have added ruminant products Optipartum C and Axcelera C, along with Axcelera P for piglets, to our already extensive feed additive range.
• On July 15, 2021 - Danisco Animal Nutrition, a business unit of IFF's Health & Biosciences division, announced the launch expansion of the industry-leading novel phytase enzyme, Axtra PHY GOLD in Malaysia, Thailand, and Australia