Latin America's animal feed enzymes market is expected to reach USD 1.78 million in 2024 and reach USD 2.56 million by 2029, growing at a CAGR of 7.60% from 2024 to 2029.
Enzymes generally refer to chemicals or catalysts released by cells that speed up specific chemical reactions. They include enzymes released in the digestive tract which help in the digestion of food. These enzymes are now added to animal feed also. There are mainly three types of enzymes: phytase, carbohydrase, and protease. They speed up different chemical and biochemical reactions in animal bodies, thereby making them physically fit. These enzymes can withstand acidic pH conditions and pelleting temperatures during feed processing operations. In addition, feed enzymes lower the viscosity of non-starch polysaccharides in animal fodder, which helps in the digestion rate of animals.
The significant drivers are rising awareness about feed quality to improve animal health and increasing health consciousness along with growing population. Also Indigestion due to lack of essential enzymes affects the livestock health and creates a demand for fodder additives, which is expected to boost the industry. However fluctuating prices of raw materials due to seasonal nature of crops and government regulations are a major constraint.
This research report on the Latin American animal feed enzymes market is segmented and sub-segmented into the following categories:
Latin America Animal Feed Enzymes Market – By Product:
Phytase had nearly two-fifths of the market share and is expected to further increase owing to improved metabolism and reproduction processes among livestock due to high phosphorus content.
Latin America Animal Feed Enzymes Market – By Form:
The dry segment dominates the market and has around three-fourths of the market share. This is largely due to properties like better thermal stability in food processing as compared to liquid form and easy handling.
Latin America Animal Feed Enzymes Market – By Livestock:
Latin America Animal Feed Enzymes Market – By Country:
The rising focus of key players on enhancing their market presence across the globe is estimated to encourage the growth of the market in the Latin America region.
KEY MARKET PLAYERS:
Foodchem International, Novozymes, ENMEX, Duo Point, Chr Hansen Holding A/S, DSM N.V., Flavorchem Corporation, DD Williamson & Co., BioExtract and Nutralliance are some of the key players in the Latin America Animal Feed Enzymes market.
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