North America held the second-largest share, followed by Asia Pacific. Existence of a well-established end-user industry and a channelized distribution network, are the major supporting factors of the industry in North America. Eastern European countries, including Russia, are likely to witness a fast-paced growth on account of rising pork consumption and livestock production.
Asia Pacific is likely to illustrate fastest growth, owing to the socio-economic factors such as increasing meat consumption in India, China and other Southeast Asian countries. Moreover, there is a rising awareness of livestock diseases, which has led to the implementation of harmless animal nutrition practices in these countries. This in turn is expected to drive the demand for various animal feed products in the region.
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Competitive Insights
The key participants in the industry are Danisco A/S, Novozymes, BASF SE, ENMEX S.A. de C.V., Royal DSM N.V., Advanced Enzymes, Elanco, Adisseo, Beldem S.A., AB Vista and BioResource International. Companies are strengthening their presence by focusing on research & development, production capacity expansion, new product launches, acquisitions and joint ventures. For example, BASF SE introduced Natuphos E, a new enzyme in India to serve the growing product requirements from the livestock fodder market in the country.
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