Acumen Research and Consulting, a global provider of market research studies, in a most recent published report titled “Phytase Market (Type: Granular , Powder, Liquid, Thermostable; Application: Food, Feed, Pharmaceuticals) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, estimates that global phytase market is projected to achieve the market worth of over $1 billion by 2025 and is anticipated to grow at a CAGR of around 6.3% in terms of revenue during the forecasting period 2018 – 2025.
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In 2017, animal feed application accounted for more than 70% share of the market in terms of sales and revenue and is projected to hold their position over the next six years. Globally, phytase is the most widely used feed enzymes, included 90% of poultry and 70% of pigs diets. Phosphorus is a key nutrient that is crucial for maintenance, growth, and tissue and cell repair. Corn, which is a main part of the regular poultry diet, contains momentous amounts of phytase. Mixing phytase to poultry food allows animal to soak up more of the phosphorus in the feed. Earlier, feed phytase were used to control phosphorus pollution and improve nutrient uptake.
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Phytase are also being used in various food applications. It may find application in production of functional foods or food supplements with health benefits. Moreover, technological enhancements are projected to occur due to the phytase degradation through processing as shown for bread making, corn wet milling, production of plant protein isolates, and the fractionation of cereal bran.
Type Segment Analysis
By type, powder and granular type collectively accounted for more than 60% share of the global market. These two types are also projected to be the fastest growing segment over the next six years. The powder formulations are predominantly recommended for all mash feeds and can be used for pelleting temperatures. In 2016, the new phytase launched by BASF i.e. Natuphos E, shows unprecedented overall constancy in challenging environments whether it be in the animal gut, in base-mixes, premixes, during pelleting processes, or in feeding. Natuphos is available in, liquid, powder and grind form. These formulations cover all typical areas of feed applications.
The North America, China and Europe play significant roles in the global phytase market. In 2017, the U.S. accounted for over 28% of the market share in terms of value as well as volume and is anticipated to maintain its dominance in the coming years. The U.S. is the largest market for phytase, as it is the largest producers of animal feed. Strong existence of a livestock production along with severe food security norms over the usage of supplements is propelling the phytase market demand. The North American phytase market is closely followed by Asia-Pacific and Europe. Furthermore, the clean label drift regarding elements and additives joint during the fodder processing will boost the product demand. The Asia-Pacific region is expected to be the fastest-growing market in near future owing to the growing meat & milk consumption in this region. Europe, led by Spain, Germany and France animal feed phytase market, is foreseen to witness a significant gain. Presence of large end-use market along with the strong distribution channel network has driven the industry growth.
Insights on Market Segment
Global phytase market is segmented by type, application and geography. Based on different types, the market is segmented into granular, powder, liquid, thermostable. Also, by application phytase is further bifurcated into food, feed, pharmaceuticals. Based on geography market is further classified into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Key Players and Their Strategic Stance
The major players profiled in the report include BASF, DuPont, DSM, AB Enzymes, Guangdong VTR Bio-Tech Co., Ltd, Beijing Smistyle, Jinan Tiantianxiang (TTX), and Others.
Companies are also engaging in new product launch, thus providing opportunity for increased product penetration. The companies have put in huge efforts for retaining its industry share through continuous innovation. Firms are also investing heavily for improving their distribution channel by strengthening their research & development, marketing & sales, and supply chain & logistics activities.
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