The global animal feed phytase market is anticipated to depict considerable growth, driven by increasing consumption of animal-based products, awareness about animal nutrition, and government spending to bring viable animal feed alternatives to the sector.
Growing focus towards optimum livestock performance has compelled the animal feed industry to turn towards healthier feed alternatives. Subsequently, growing preference for feed options with phosphorous digestibility for monogastric and ruminants has popularized animal feed phytases
According to the National Library of Medicine, phytase as a feed additive is well tolerated by broiler pigs and chickens. When used as one of the key aspects of animal feed, phytase holds the ability to improve the overall growth performance of both pigs and broiler chickens with high efficacy.
Some of the other factors shaping the market landscape are increasing experiments in the field of food technologies and the cost-effective nature of phytases, which are fostering the product’s incorporation inside animal feeds.
These factors, when paired with the increasing demand for convenience food across the world, are largely responsible for fueling the use of animal feed phytase in the global livestock sector.
A recent Global Market Insights Inc. report expects the global animal feed phytase market to register a valuation of $905.48 Mn by 2030.
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While growth opportunities are abundant, the market is likely to be hindered due to a lack of knowledge about the dosage of animal feed phytase.
Below are some key advancements in this field that will drive animal feed phytase market revenues through 2030:
1. Rising product innovations to nurture industry landscape
When it comes to industry growth, product innovations are outright expected to become the engine that powers the market revenues. The global livestock sector is regarded as one of the key contributors of carbon emissions in the world, contributing to about 14.5% of all anthropogenic GHG emissions, as per the FAO. Yet, global economic conditions are such that meat and meat-product consumption is growing at a remarkable rate.
Although the meat-alternatives sector has started to emerge in face of these environmentally conflicting trends, its development up until this point has not allowed it to compete with the latter in terms of scale.
At the same time, advancements in feed phytases have started to allow for quicker, more sustainable rearing, questioning the appeal of meat-alternatives with respect to their ‘ecological friendliness’.
Recently, the DSM-Novozymes alliance introduced its next-generation phytase named ‘HiPhorius’, which is a phytase solution that can facilitate sustainable protein production for poultry producers. The product elevates the industry standard of phytase technology, facilitating consistent enhancements to animal performance with efficient use of phosphorous.
Citing another instance, in 2019, BASF introduced a next generation phytase called Natuphos E that delivers superior stability in premix and harsh pelleting processes with maximum shelf-life stability. The new product will help poultries utilize the nutrients like phosphorous better to promote better animal growth and lead to decreased phosphorus emissions from livestock.
2. Tightening regulatory landscape to majorly shape market outlook
The market landscape is likely to be majorly shaped out by the tightening regulatory landscape, which is calling for increased product testing to bring healthier animal feed alternatives to the livestock sector.
The subsequent emphasis on R&D efforts by market players to back their initiatives to launch compliant, safe product formulations will augment the industry outlook further.
Back in 2020, the European Food Safety Authority’s Panel on Additives and Products or Substances tested a new feed additive from Huvepharma, called OptiPhos PLUS, which contains the active 6-phytase, and found that it is safe for egg-laying hens and other poultry, when used with a safety margin.
3. Surging small-scale animal husbandry
The evolving food-safety regulations and a recent global shift towards small-scale animal husbandry have increased the reachability of high-quality animal feed phytases to smallholder farmers and feed mills.
As a result, small-scale animal husbandry is undergoing a monumental transformation, with modern animal feed options for maximum livestock performance becoming more widely adopted. Leading market players are also investing in high-quality feed rations to support small farmers.
Citing an instance, Danisco Animal Nutrition & Health, a IFF Health & Biosciences division business unit, inked a collaboration agreement with Single Spark, the creators of FeedCalculator app, which supports small farmers by helping them produce high-quality feed rations with locally sourced ingredients, to ease phytase availability.
Furthermore, the firm also unveiled, Axtra Phy Gold, a phytase enzyme to deliver accessible animal feed options to smallholder farmers and feed mills. The high quality phytase facilitates the production of phosphate-free high-phytate diets, offering stability in diverse pelleting situations.
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Summing it up
Overall, driven by increasing consumption of meat and meat-derived products, the demand for animal feed phytases is set to increase at a considerable rate. While market players are coming up with enhanced methodologies to improve the existing feed options, government support through effective regulations are most notably shaping revenue growth. Meanwhile, surge in new product developments and increasing stability of animal feed phytase are expected to present new pathways to the market.
About Global Market Insights Inc.
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