What Will The Microorganism Feed Carbohydrase Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s microorganism feed carbohydrase market report forecasts the microorganism feed carbohydrase market size to grow to $2.16 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.
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Microorganism Feed Carbohydrase Market Size Forecast
The global microorganism feed carbohydrase market is expected to grow from $1.42 billion in 2022 to $1.55 billion in 2023 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global microorganisms feed carbohydrase market size is expected to reach $2.16 billion in 2027 at a CAGR of 8.6%.
North America held the largest microorganism feed carbohydrase market share.
Key Microorganism Feed Carbohydrase Market Driver – Rise In demand for animal protein such as meat
According to the Organisation for Economic Co-operation and Development (OECD), a France-based intergovernmental trade organisation, global meat consumption per capita would rise by 0.3% per year to 35.4 kg in retail weight equivalent by 2030, with poultry meat accounting for 41% of all protein from meat sources, with a 2% increase in 2030 due to its healthier food choice, low cost, and ease of preparation. As a result, the microorganisms feed carbohydrase market is driven by increased demand for animal protein such as meat.
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Key Microorganism Feed Carbohydrase Market Trend – Product Innovations
To maintain their market position, major businesses in the microorganism feed carbohydrase market are focusing on introducing innovative products. For example, Novozymes, a Denmark-based biotechnology firm that develops microorganism feed carbohydrase in partnership with the Royal Dutch DSM Group, a Netherlands-based company that offers microbial enzymes, produced the Ronozyme feed enzymes in February 2022. These enzymes would boost feed utilisation and efficacy while also lowering feed prices and negative environmental repercussions, promoting the industry’s long-term development.
Microorganism Feed Carbohydrase Market Segment
1) By Type: Amylases, Cellulases, Pectinases, Lactase, Other Types
2) By Form: Dry, Liquid
3) By Livestock: Poultry, Swine, Ruminants, Aquatic Animals, Other Livestock
4) By Application: Food And Beverage, Animal Feed, Pharmaceuticals, Other Applications
Microorganism Feed Carbohydrase Market Major Players and Strategies
Major players in the microorganism feed carbohydrase market are BASF SE, Novozymes A/S, Adama Ltd., Cargill Incorporated, Kerry Group PLC, International Flavors & Fragrances Inc., K+S Group, Sumitomo Chemicals, Associated British Foods PLC, Royal DSM N.V., Corbion N.V, Syngenta Group, Bayer AG, and Amano Enzymes Inc.
Novozymes A/S, a Danish global biotechnology corporation, bought Novo Nordisk Pharmatech A/S for an undisclosed sum in November 2021. Novozymes A/S hopes to capitalise on its track record of delivering exceptional goods with this acquisition, hence increasing customer satisfaction and generating high-quality biopharmaceuticals. Novo Nordisk Pharmatech A/S is a biopharmaceutical firm established in Denmark that creates microorganisms that feed enzymes.
The Microorganism Feed Carbohydrase Global Market Report 2023 covers regional data on microorganism feed carbohydrase market size, microorganism feed carbohydrase market trends and drivers, opportunities, strategies, and microorganism feed carbohydrase market competitor analysis. The countries covered in the microorganism feed carbohydrase market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Microorganism feed carbohydrase is a large family of glycosidase enzymes that catalyse five different forms of carbohydrase activities. Carbohydrases are polysaccharide-degrading enzymes found in the pancreas, salivary glands, and small intestine. They help to break down meal components that the digestive tract cannot break down adequately on its own.
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