The non-starch polysaccharide (NSP) enzyme market has shown robust growth, expanding from $0.97 billion in 2023 to $1.02 billion in 2024, with a CAGR of 5.7%. This growth is attributed to enhanced animal nutrition, benefits for human health, agricultural waste utilization, supportive regulations, and plant-based product demand. The market is expected to reach $1.29 billion by 2028, growing at a CAGR of 5.9%. Key drivers include plant-based diet popularity, biofuel production expansion, global population growth, climate change mitigation, and cost efficiency. Trends include plant-based diet expansion, increased biofuel production, rising population, climate change efforts, and economic factors.
Major Driver In The Non starch Polysaccharide NSP Enzyme Market
The non-starch polysaccharide (NSP) enzyme market is likely to see growth due to the rising demand in the animal feed industry. The demand for animal feed is increasing due to higher global meat consumption and expanded livestock farming. NSP enzymes improve nutrient digestibility in animal feed, promoting better growth and health. The Department of Agriculture, Environment, and Rural Affairs reported a 15.5% increase in animal feed deliveries in Q4 2023 compared to Q3 2023. This rising demand for animal feed is expected to boost the NSP enzyme market.
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Non starch Polysaccharide NSP Enzyme Market Competitive Landscape
Archer Daniels Midland Company, BASF SE, AB Enzymes GmbH, Koninklijke DSM N.V., Trouw Nutrition USA LLC, Alltech Inc, Bluestar Adisseo, Kemin Industries Inc., Qingdao Vland Biotech Inc., Genscript Biotech Corporation, Novus International Inc., Nofima Marin AS, EW Nutrition GmbH, Rossari Biotech, Nutrex, The Aumgene Biosciences Pvt Ltd, Leveking Biotech Co. Ltd., VEMO 99 Ltd, Glamac International Pvt. Ltd., Engormix
Key Non starch Polysaccharide NSP Enzyme Market Trend
Companies in the non-starch polysaccharide (NSP) enzyme market are developing new enzyme products to improve nutrient digestion and make animal feed more efficient and sustainable. In December 2021, BASF SE launched Natupulse TS, an enzyme with enhanced thermal stability for use in animal feed. This product ensures consistent enzyme activity across a wider range of temperatures, optimizing nutrient digestion and absorption in livestock, which leads to better feed efficiency and overall animal performance.
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Non starch Polysaccharide NSP Enzyme Market Segmentation
The non-starch polysaccharide (NSP) enzyme market covered in this report is segmented –
1) By Type: Soluble, Insoluble
2) By Source: Plant, Microbial, Animal
3) By Application: Food And Beverages, Chemical, Pharmaceutical, Animal Feed, Biofuel, Textile, Other Applications
By Geography:The regions covered in the non-starch polysaccharide (NSP) enzyme market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the non-starch polysaccharide (NSP) enzyme market in 2023.
The Non starch Polysaccharide NSP Enzyme Global Market Report 2024 furnishes information about the global non starch polysaccharide nsp enzyme market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
