MARKET REPORT FEED & ADDITIVE MAGAZINE February 2024 77 the intestines and promote the maintenance of the animal’s overall health. They improve growth and development in young animals by assisting the transition from breast milk to solid feed. They improve weight gain and performance by increasing feed utilisation. They reduce the amount of undigested feed produced as waste by enabling animals to utilise feedstuffs at a much higher rate, thereby reducing the impact of animal production on the environment. And also, they contribute to the reduction of feed costs by improving feed quality. They can protect intestinal health and prevent the growth of pathogenic microorganisms. All this means higher profit margins for businesses. SOME ENZYMES USED IN ANIMAL NUTRITION Animals utilise different enzymes for different functions. Therefore, there are a variety of feed enzymes used in animal nutrition, each serving a unique purpose. For example, digestive enzymes are the most commonly used enzymes in animals. Enzymes in this group, which include lipases, proteases and amylases, help digestion by contributing to the breakdown of fats, proteins and carbohydrates. Carbohydrases release more of the energy contained in rations, allowing higher performance from the same amount of feed. Proteases contribute to the reduction of feed costs by increasing protein digestion in various feed ingredients. Phytases are used to break down phytate, a molecule not usually found in livestock. This process releases additional phosphorus in feed for pigs and poultry, thereby increasing natural phosphorus availability, improving performance and reducing feed costs and environmental impact. Other enzymes used in animal feed include xylanases, β-glucanases, pectinases, galactosidases, cellulases and β-mannanase. These enzymes improve the uptake of ration components such as protein, amino acids, starch, lipids and energy. FEED ENZYMES MARKET AND FORECASTS According to a report by Mordor Intelligence, the global feed enzymes market size will be around USD 1.38 billion in 2023. Explaining that the market grew at a compound annual growth rate (CAGR) of 5.3% during the 2017-2023 period, the company predicts that this rate will decline to 4.98% during the forecast period 2024-2029, and the market size will reach USD 1.76 billion by 2029. According to Verified Market Research's (VMR) September 2023 report, the global feed enzymes market, which was valued at USD 1.36 billion in 2022, will grow at a CAGR of 6.2% to reach USD 2.2 billion by 2030. The report prepared by Future Market Insights (FMI) also provides similar forecasts. According to FMR's report on the feed enzymes market, the market size will be around USD 1.2 billion in 2023. The report forecasts that the market will grow at a CAGR of 4.4% and reach USD 1.8 billion by 2033. Another research company pointing to similar data is Stratview Research. According to the company's report, the size of the global feed enzymes market was USD 1.56 billion in 2022. The company forecasts that the market will grow at a CAGR of 7.95% between 2023 and 2028 and reach a size of USD 2.47 billion in 2028. The report prepared by Global Market Insights also reveals that the current size of the market has USD 1.77 billion in 2022. Forecasting that the market will
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