Brazil Feed Enzymes Market Growth, Analysis, Report 2022-2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Brazil feed enzymes market size at USD 57.2 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Brazil feed enzymes market size to grow at a significant CAGR of 5.45% reaching a value of USD 82.93 million by 2029. Major growth factors of Brazil feed enzymes market include increasing demand for processed food, growing population's health concerns and numerous applications of enzymes in the processed food industry. Likewise, the country's food technology innovations and increased awareness regarding higher-quality products created with enzymes are propelling the market. The supply of feed expense effectiveness and the increase in the requirement for animal-based products, like meat products, dairy products, and eggs. Also, improved meat quality or egg production, as well as better animal health, are expected to boost the consumption of animal-based food products, propelling the growth of the feed enzymes market. Likewise, the surging demand for naturally generated feed and feed additives is expected to cushion the expansion of the feed enzymes market. However, high addition of enzymes has adverse impacts is anticipated to restrain the growth of overall market.
Brazil Feed Enzymes Market – Overview
Feed enzymes are known to be employed to increase the quality of animal nutrition and the nutritional properties of animal fodder. Enzymes are natural proteins that are released by animals as part of the feed digesting process. Feed enzymes improve feed performance when added because they supply nutrients such as vitamins and minerals to animal feed. A normal animal feed comprises indigestible components such as complex nutrients, which make it difficult for Swine and poultry to digest the feed material entirely. Feed enzyme is an exogenously introduced animal feed additive that improves feed digestion and animal performance. The use of enzymes in feed increases the nutritional value of the meal for the animals. Phytase, carbohydrase, and protease are the most often utilized enzymes in the animal feed industry.
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Impact of COVID-19 on Brazil Feed Enzymes Market
COVID-19 had a detrimental impact on Brazil feed enzymes market that led to supply chain disruption, resulting in a shortage. Likewise, the governments globally enforced stay-at-home orders, many farmers resorted to panic buying animal feed in anticipation of possible shortages. Several worries, including truck shortages, limited delivery, and staff infected with COVID-19, pushed farmers to stock up on animal feed.
Brazil Feed Enzymes Market – By Application
Based on application, Brazil feed enzyme is segmented into Bakery, Confectionery, Dairy & Frozen Desserts, Meat, Poultry & Seafood Products, and Beverages. The bakery segment held the highest market share. The enzyme is a critical element in the manufacturing of food products, particularly baked foods. These food enzymes work as a catalyst for biological reactions, resulting in improved baked goods quality. It is also utilized as a dough improver because it is responsible for the breakdown of some dough components such as starch, fiber, protein, or lipids, as well as controlling water movement during bread dough processing and providing crumb softness throughout the shelf life. Enzymes, such as asparaginase, aid in the reduction of harmful acrylamide concentration in bakery items, and other enzymes work as anti-staling agents in bread and cakes, extending the product's shelf life. As a result, enzymes are regarded as critical processing aids.
Competitive Landscape
Major players operating in Brazil feed enzymes market include DuPont de Nemours Inc., Koninklijke DSM NV, Chr. Hansen Holding AS, ABF Ingredients, Novozymes AS, Biogenoci Co. Ltd, Cargill Incorporated, Royal DSM, and BASF SE. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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