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Industrial V Belt Market: Projected Value to Hit US$ 221.3 Million by 2033

The Industrial V Belts Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Industrial V belts market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Industrial V belts. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
According to projections, the industrial V-speed belts market is poised to reach US$ 120.4 million in 2023 and is expected to further increase to US$ 221.3 million by 2033. The global expansion of the industrial V-belts market is being driven by the increasing mechanization of farming and agricultural activities, particularly in developing nations. The industrialization of agriculture in these regions is exerting a significant influence on the industrial V-belt market.
The surge in the adoption of agricultural equipment is a key factor contributing to the growth of the global industrial belt drives market during the forecasted period. Government initiatives, particularly in emerging economies such as China and India, play a pivotal role in promoting the utilization of industrial resources for enhancing agricultural operations. This trend is particularly noteworthy given the heavy reliance of developing countries on agriculture and their increasing embrace of industrial equipment for improved efficiency.
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One of the key reasons propelling the expansion of the worldwide market is the rise in replacement operations—belt drive installation and commissioning present key difficulties. While installing belt drives, installation tension is crucial. Low pressure causes belts to slide or harm the teeth of the belt. Excessive tension results in overloading, which breaks the cable, motor shafts, and bearings.
When it comes to producing the best performance, alignment is also crucial. Due to the expansion of oil refineries and the mining industry, the need for V-Belts rose throughout the Middle East, Africa, Asia Pacific, North America, and Eastern Europe.
Key Takeaways
● In 2023, North America's industrial V speed belts market is likely to expand, with a CAGR of 25%. The market in North America is anticipated to expand at a CAGR of 7.2% during the forecasted years.
● The industrial V speed belts market grew considerably to US$ 112.5 million in 2022.
● The industrial V speed belts market expanded with a CAGR of 6.7% between 2018 to 2022.
● By 2033, the APAC industrial V speed belts market is projected to develop with a share of 40%.
● By 2033, India's industrial V speed belts industry is projected to expand with a CAGR of 8%.
● The United Kingdom industrial V speed belts market is likely to develop with a CAGR of 6% by 2033.
● In 2022, based on application, the automotive industry dominated the market.
● Urbanization is accelerating, which has greatly benefited the mining and car sectors as well as the industrial v-belt industry.
●
Key Players' Strategies and Recent Developments:
● Optibelt GmbH released dual-sided v-belts for numerous pulleys, clutching drives, and serpentine implementations in July 2021. They are called Optibelt DK. Its high quality and designed structure guarantee superior efficiency and longevity.
● In September 2021, SKF launched a variety of high-performance Classical V-belts and SKF SKF-wrapped wedge Belts. For usage in various industries, SKF provides a full array of V-belts.
● In November 2019, ContiTech AG released CONTI®V MULTIBELT POWER V-belts, which include an improved compound and a low-stretch aramid tensile member for optimum power transfer under heavy loads.
Key Players
• ContiTech AG
• Gates Corporation
• Optibelt GmbH
• GoodYear Rubber Products Inc.
• Hi-Lo Manufacturing
• Lian Eng
• Lovejoy
• Megadyne
• Pix Transmissions Ltd.
• QPower, Inc.
• Rubena a.s.
Key Segments
By Type:
• Narrow Type
• Wide Type
By Application:
• Automotive
• Construction
• Packaging
• Oil & Gas
• Others
By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

High Density Racks Market: Riding the Wave of Technological Advancements

The high-density racks (>100Kw) Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the high-density racks (>100Kw) market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for high-density racks (>100Kw). It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
In a bold projection of market growth, the global high-density racks (>100Kw) market is poised to thrive, boasting an impressive Compound Annual Growth Rate (CAGR) of 3.8% between 2023 and 2033. This industry is on a trajectory towards commanding a substantial market share valued at US$ 48.35 billion by 2033, while we anticipate it to attain a substantial value of US$ 34.56 billion in 2023.
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The substantial expansion of the high-density racks market can be attributed to an array of driving factors, propelling it towards this remarkable growth trajectory. Several pivotal factors are propelling this market's ascent:
1. Surging Data Center Demand: The ever-increasing reliance on data centers across diverse sectors, including cloud computing, telecommunications, and financial services, is driving the demand for high-density racks. These racks are essential to accommodate the exponential data growth experienced globally.
2. Energy Efficiency Imperative: As sustainability gains paramount importance, businesses are seeking energy-efficient solutions. High-density racks, equipped with cutting-edge cooling and power management technologies, are becoming a crucial choice for enterprises aiming to reduce their carbon footprint.
3. Technological Advancements: Ongoing innovations in rack designs, materials, and integrated systems are revolutionizing the high-density rack market. The introduction of smart and modular racks, optimized for space and performance, is attracting substantial investments.
4. Rising Edge Computing: The proliferation of edge computing applications, driven by the Internet of Things (IoT) and 5G technology, is bolstering the need for high-density racks closer to end-users. This trend is igniting substantial growth prospects for the market.
However, as with any dynamic market, challenges also lie ahead, acting as potential restraints:
1. Cost Barriers: The adoption of high-density racks, though essential, can be capital-intensive. Smaller enterprises may encounter financial constraints when implementing these advanced solutions.
2. Technical Expertise: Deploying and managing high-density racks require specialized technical expertise. A shortage of skilled personnel in this field may impede market growth to some extent.
3. Regulatory Compliance: Evolving regulations and standards for data center operations and environmental sustainability may add complexity to market dynamics, impacting the ease of market entry for some players.
Key Takeaways:
• Increasing Demand for Efficiency: The primary driver for the adoption of high-density racks is the growing need for efficiency in various industries.
• Compact Equipment Demand: Compact equipment is in high demand, contributing significantly to the surge in high-density rack adoption.
• Data Center Operations: The global high-density racks market is benefiting from the rising demand for data center operations, driven by the ever-expanding digital landscape.
• Investment in Data Center Equipment: Increased investment in data center equipment is a key factor propelling the growth of this market.
• High-Performance Computing (HPC): High-density power racks are finding adoption in high-performance computing (HPC) environments, particularly in industries like Oil and Gas, where extreme computing levels are required for tasks like seismic processing.
Competitive Landscape
The High Density Racks (>100Kw) market boasts a roster of prominent industry players, including:
• Ridg-U-Rak
• Emerson Electric Co.
• Eaton
• AK Material Handling Systems
• VALERACK
• Hewlett Packard Enterprise Development LP
• HUAWEI Technologies CO LTD.
• Belden Inc.
• Redirack Storage Systems
• Storax Limited
In February 2020, at the prestigious Huawei Industrial Digital Transformation Conference 2020, Huawei made a significant global announcement. Huawei unveiled its groundbreaking UPS power module, a product designed to redefine industry standards. This cutting-edge module achieves an extraordinary power density of 100 kW/3 U, double the prevailing industry standards.
Furthermore, Huawei's innovative FusionPower 2.0 data center power supply and distribution solution, built upon the 100 kW module, sets a new benchmark with the '1MW, 1 Rack' standard. This revolutionary rack configuration can efficiently handle 1MW power requirements while significantly reducing footprint, thereby enhancing data center efficiency and revenue potential.
Key Segments Covered
By Type:
• Drive-in Rack
• Drive-through Rack
By Cooling:
• Refrigerant
• Water
• Direct Expansion
• Air Flow
By End Use:
• Distribution Centers
• Warehouses
• Food Processing Plants
• Big-box Retail Outlets
• Data Center

Market Projections Unveiled: Duct Fans Market Eyes US$ 162,788.1 Million Benchmark by 2033

The Duct Fans Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Duct Fans market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Duct Fans. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The Duct Fans market is poised for an extraordinary ascent in the coming decade. Projections indicate that the market will soar from its current valuation of US$ 96,354.0 million in 2023 to an impressive US$ 162,788.1 million by the year 2033. This robust growth is expected to be underpinned by a substantial Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.
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Several key driving factors are propelling the global duct fans market to unprecedented heights. The market's expansion is being fueled by a confluence of factors that underscore its immense potential:
1. Rising Industrialization and Infrastructure Development: The global surge in industrialization and infrastructure development projects, especially in emerging economies, demands efficient ventilation and HVAC systems. Duct fans play a pivotal role in ensuring optimal air circulation, making them indispensable in these endeavors.
2. Energy-Efficiency Mandates: The ever-increasing emphasis on energy efficiency and sustainability has propelled the demand for energy-efficient HVAC solutions. Duct fans, with their advanced technologies and eco-friendly designs, are positioned to cater to this demand effectively.
3. Technological Advancements: Continuous innovations in duct fan technologies, such as the integration of smart and IoT features, have enhanced their performance and ease of use. These innovations are driving adoption across various sectors.
4. Stringent Regulations: Stringent regulations and standards related to indoor air quality and ventilation are compelling industries to invest in state-of-the-art duct fan systems to maintain compliance.
Despite these compelling growth drivers, it is essential to acknowledge the presence of certain constraints that may hinder market growth:
1. Supply Chain Disruptions: The global supply chain has faced disruptions due to unforeseen events, such as the COVID-19 pandemic. These disruptions can impact the availability of raw materials and components for duct fan manufacturing.
2. Environmental Concerns: Increasing environmental concerns have led to stricter regulations related to emissions and energy efficiency. Complying with these regulations may pose challenges for some market players.
3. Competition: The global duct fans market is highly competitive, with numerous players vying for market share. Intense competition can exert pressure on pricing and profitability.
Key Takeaways:
• BRICS economies show substantial growth in construction and building industries, driving increased demand for duct fans.
• The rise in smart home projects is a significant contributing factor to the growth of the duct fans market trends.
• Developed regions are witnessing improvements and renovations in their construction sectors, necessitating the removal of harmful gases, bad odors, and impurities.
• Saudi Arabia, with approximately 5,000 ongoing construction projects valued at around US$ 800 billion, is expected to contribute significantly to the increased demand for duct fans in the market.
Competitive Landscape:
• Systemair AB,
• Acme Engineering & Manufacturing Corp.
• Air System Components Inc.
• Airmaster Fan Company Inc.
• Continental Blower LLC
• CECO Environmental
• Crompton Greaves Limited
• DongKun Industrial Co. Ltd.
Recent Noteworthy Events:
Midea Group's Innovative Showcase at CRH-2021 (April 2021): In April 2021, the Midea Group unveiled a series of cutting-edge high-efficiency precision cabinet-type industrial precision fan coil units during the China Refrigeration & Heating 21 (CRH-2021) event. This move exemplified their commitment to advancing HVAC technology.
Komfovent Introduces the VERSO CF 5000 V Air Handling Unit (February 2021): In February 2021, Komfovent introduced the VERSO CF 5000 V air handling unit as part of their VERSO standard series. This compact unit, featuring a vertical duct connection, not only optimizes space but also demonstrates Komfovent's dedication to space-efficient and innovative HVAC solutions.
ResMed's Groundbreaking Launch of AirSense 11 (August 2021): In August 2021, ResMed introduced AirSense 11, a state-of-the-art positive airway pressure (PAP) device. Designed to enhance the treatment and management of obstructive sleep apnea, this next-generation device reflects ResMed's commitment to improving the quality of life for individuals dealing with sleep apnea.
Key Segments Covered in the Market Report
By Product Type:
• Centrifugal Fans
• Axial Fans
• Cross-flow Fans
By Shape:
• Circular
• Rectangular
• Square
By End User:
• Residential
• Commercial
• Industrial
By Region:
• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan (APEJ)
• Japan
• The Middle East & Africa (MEA)

Navigating Market Challenges in the Dumbwaiter Lifts Industry

The dumbwaiter lifts Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the dumbwaiter lifts market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for dumbwaiter lifts. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The global dumbwaiter lifts market is poised for impressive growth, projected to achieve a robust Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period. Anticipated to reach a valuation of US$ 17,101.10 million by the year 2023, the market's trajectory is set to ascend even further, potentially reaching an astounding US$ 25,413.90 million by 2033.
Driving Factors Accelerating the Global Dumbwaiter Lifts Market:
1. Rapid Urbanization and Commercial Development: The relentless pace of urbanization, coupled with burgeoning commercial enterprises, is a primary driver fueling the demand for dumbwaiter lifts. As businesses expand, the need for efficient and space-saving vertical transportation solutions becomes paramount.
2. Stringent Regulations and Accessibility Standards: Governments across the globe are increasingly enforcing stringent regulations and accessibility standards. These mandates are compelling businesses and building owners to install dumbwaiter lifts, especially in structures where accessibility for all is paramount.
3. Growing Hospitality Industry: The hospitality industry, including hotels and restaurants, is recognizing the value of dumbwaiter lifts in streamlining food and beverage service. Enhancing operational efficiency and customer satisfaction, these lifts are fast becoming a standard in the industry.
4. E-commerce and Warehousing Boom: The exponential growth of e-commerce has led to an increased need for efficient warehousing solutions. Dumbwaiter lifts play a pivotal role in optimizing vertical space utilization within warehouses, contributing significantly to logistics efficiency.
5. Technological Advancements: Innovations in dumbwaiter lift technology, such as IoT integration, remote monitoring, and energy-efficient designs, are attracting businesses seeking state-of-the-art solutions for seamless vertical transportation.
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Challenges Restraining Market Growth:
1. High Initial Investment: Despite the long-term benefits, the initial capital outlay for dumbwaiter lifts can be substantial. This can deter small and medium-sized businesses from adopting these systems.
2. Maintenance Costs: While modern dumbwaiter lifts are designed for durability, ongoing maintenance and servicing can impose additional costs on businesses. Cost-effective maintenance solutions are imperative for market sustainability.
3. Regulatory Compliance: Adhering to evolving safety and accessibility standards can pose challenges for manufacturers and businesses, necessitating constant adaptation and investment in compliance measures.
Key Takeaways:

• Rising adoption of dumbwaiter lifts in hotels to enhance food service quality and efficiency.
• Modern residential complexes and hospitals are utilizing dumbwaiter lifts for laundry purposes, driving demand.
• Increased demand in the hotel and healthcare sectors is poised to fuel market growth.
• Key market trends include a focus on maintaining service quality and comfort in hotels.
• Dumbwaiter lift manufacturers are innovating to provide tailored solutions for various properties.
Competitive Landscape:
Dumbwaiter lift manufacturers employ a diverse array of marketing strategies, encompassing initiatives such as new product introductions, geographic expansion endeavors, mergers and acquisitions, partnerships, and collaborative ventures. These strategies are meticulously crafted to discern and cater to the evolving interests of potential buyers, ultimately facilitating the expansion of their customer base.
Established on September 12, 2013, Kdp Elevators Private Limited has recently exhibited a focused commitment towards the installation and maintenance of dumbwaiter lifts within the environs of Delhi and its adjacent suburbs.
Key Players:
• Otis Elevator Company
• Mitsubishi Electric Corporation
• Schindler
• Kone Corporation
• ThyssenKrupp AG
• Stannah
• LUTZ Elevators
• Elevation Innovation Inc.
Key Segments
By Type of Operation:
• Manually operated
• Mechanical
• Power Operated
• Hydraulic
• Electric
By Car Door Design:
• Roll Top
• Bi-parting
• Collapsible Gate
By Number of Halts:
• Limited Halts (Up to 7)
• Unlimited Halts
By Load Carrying Capacities:
• Small (Up to 100 lb)
• Medium (Up to 200 lb)
• High (Over 200 lb)
By Installation Type:
• Floor Type
• Window Type
By End User:
• Hotels
• Hospitals
• High Rising Residences
• Malls
• Cruises and Ships
• Offices
• Schools

Navigating Opportunities: Commercial Kitchen Ventilation System Market Landscape


The commercial kitchen ventilation system Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the commercial kitchen ventilation system market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for commercial kitchen ventilation system. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The global commercial kitchen ventilation system market is poised to achieve remarkable growth, with projections indicating a valuation of US$ 17.43 billion by 2033, as compared to US$ 11.73 billion in 2023. This substantial growth trajectory is attributed to a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period.
The exponential expansion of the global commercial kitchen ventilation system market is underpinned by a host of compelling driving factors:
1. Stringent Regulatory Norms: Governments across the world have implemented stringent regulations to ensure food safety and maintain air quality in commercial kitchens. Compliance with these regulations necessitates the installation and maintenance of advanced ventilation systems, driving market growth.
2. Rising Demand for Energy-Efficient Solutions: In an era of heightened environmental consciousness, commercial kitchens are increasingly adopting energy-efficient ventilation systems to reduce carbon footprint and operational costs.
3. Booming Foodservice Industry: The thriving foodservice industry, characterized by the proliferation of restaurants, cafes, and food delivery services, is bolstering the demand for efficient kitchen ventilation solutions.
4. Technological Advancements: Innovations in ventilation system technology, including smart and automated systems, are enhancing the efficiency and effectiveness of kitchen ventilation, further fueling market growth.
5. Health and Safety Concerns: Heightened awareness regarding indoor air quality and its impact on the health and well-being of kitchen staff is driving the adoption of advanced ventilation systems in commercial kitchens.
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Despite the promising growth prospects, the market is not without its challenges. The following factors serve as key restraints:
1. High Initial Investment: The installation of advanced commercial kitchen ventilation systems often requires a substantial upfront investment, which may deter smaller establishments.
2. Maintenance Costs: Ongoing maintenance and servicing costs can be significant, especially for complex ventilation systems, posing a financial burden to businesses.
3. Space Constraints: Commercial kitchens in urban areas frequently face space limitations, making the installation of ventilation systems a logistical challenge.
4. Competitive Landscape: The market is highly competitive, with numerous players vying for market share. This intensifies price competition and may impact profit margins.
Key Takeaways:
• Stringent Regulations Drive Growth: Implementation of strict regulations concerning Volatile Organic Compound (VOC) emissions is a significant catalyst for expanding the commercial kitchen ventilation system market during the forecast period.
• Global Awareness on Environmental Impact: Increasing global awareness about the greenhouse effect and escalating pollution levels worldwide is expected to contribute to the market's growth as businesses seek environmentally responsible solutions.
• Ongoing Trend: Demand Controlled Ventilation (DCV): The adoption of Demand Controlled Ventilation (DCV) systems is a noteworthy trend positively impacting the commercial kitchen ventilation system market's growth.
• Continuous Innovation: Manufacturers are actively innovating to create ventilation systems tailored to specific kitchen requirements, emphasizing efficiency, control, and aesthetics. This drive for innovation is creating diverse opportunities within the commercial kitchen ventilation system market.
Competitive Landscape:
The gradual emergence of start-ups in this industry is poised to significantly influence the trajectory of commercial kitchen ventilation system market trends in the coming years.
As an illustrative example, Halton stands as a prime exemplar in addressing the evolving landscape of Ghost Kitchens and their ventilation requirements. Beyond its commitment to energy efficiency, environmental stewardship, and fire safety, Halton's innovative Adaptive Hood System adeptly resolves the critical challenges associated with Ghost Kitchen ventilation.
Halton is well-prepared to engage with dedicated design teams, contractors, and tenants, offering comprehensive assessments of the system's capabilities right from the initial design concept phase.
Key Players:
• Munters AB
• Nortek Incorporated
• Flakt Woods Group
• Solar & Palau Group
• Centrotee Sustainable AG
• Britannia Kitchen Ventilation ltd
Key Segments Profiled in the Commercial Kitchen Ventilation System Market Survey
By Contact with Application Type:
• Restaurants
• Hospitals
• Corporate Offices
• Hotels
• Five Star Hotels
• Others
By Fan Type:
• High Volume Low Speed Fans
• Axial Fans
• Centrifugal Fan Sets
• Bifurcated Fan Sets
• Belt Driven Axial Fans
• In-Line Centrifugal
• Mixed Flow Impellers
• Roof Extract Fans
By Region:
• North America
• Latin America
• Asia Pacific
• The Middle East and Africa
• Europe

Feed Enzymes Market to see Booming Business Sentiments

The global feed enzymes market size is estimated to grow to US$ 1.2 billion in 2023 and is projected to reach US$ 1.8 billion by 2033. The market is expected to record a CAGR of 4.4% during the forecast period.

In the Face of Antibiotics Ban, Feed Enzymes Emerge as Lucrative Alternative

Several developed markets have banned the use of antibiotics for livestock. As a result, feed enzymes have emerged as an alternative. Since they pose few side effects when properly used, they aid in digestion and immune boosting. Hence, a significant segment has started preferring immune-boosting feed enzymes over conventional antibiotics.

Possible Side-Effects of Feed Enzymes, Major Hurdle to Market Growth

The vast array of benefits that can be reaped through feed enzymes is limited by physiological factors impeding enzyme action. Moreover, feeding enzymes to livestock over the prescribed limits could have undesirable consequences. The level of the enzyme to be administered to an animal depends on various factors such as age, size, breed, and such. The same can only be determined by an experienced professional such as a veterinarian. Certain enzymes when consumed improperly can cause blood thinness, diarrhea, and vomiting in animals

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Key Players Keen to Cater to Niche Markets

Since feed enzymes are increasingly being preferred over antibiotics, key players are aiming to boost production efficiency. Different livestock animals have different feed enzyme requirements depending on their characteristics. Hence, key players need to develop unique product variants to cater to the livestock market. The current forecast period is already witnessing the launch of diverse product lines, by top manufacturers such as DSM and ADM.

Key Takeaways from the Report:

In terms of revenue, the Feed enzymes market grew at a CAGR of around 4.8% during 2017 and 2022.
During the forecast period, the Chinese market is projected to grow at a CAGR of 4.3% to attain a valuation of US$ 178.4 million by 2033.
The Indian industry is projected to expand at a CAGR of 4.3% between 2023 and 2033 to attain a valuation of US$ 80.4 million.
The U.S. market is anticipated to grow at a CAGR of 4.5% during the forecast period.
The Carbohydrase segment is expected to grow at a CAGR of 3.8% between 2023 to 2033.
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Key Market Developments:

Danisco Animal Nutrition recently launched the Extra PHY GOLD, a new variant of phytase enzyme.
The second generation of ProAct 360, which is a protease enzyme, was released by the DSM in collaboration with Novozymes Feed Enzymes Alliance.
ADM is all geared up to launch new R&D labs in the United States. These focus on developing sustainable variants of feed enzymes.
CapriEnzymes is an Indian startup that harnesses biotechnology to produce innovative enzyme variants.
BRI is a startup primarily focusing on the research and development of sustainable feed enzyme additives.
Key Players:

BASF SE
DuPont
Associated British Foods Plc
BEHN MEYER
DSM
Azelis S.A.
Rossari
BIO-CAT
BEC Feed Solutions
Adisseo
Bioproton Pty Ltd.
Novus International
BioResource International, Inc.,
Alltech
Lesaffre
Karyotica Biologicals Pvt Ltd.
Aum Enzymes
Biovet
Chr. Hansen Holding A/S
CapriEnzymes
Advanced Enzyme Technologies

 

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Feed Phytogenic Market is Expanding Rapidly with Promising Growth Prospects

The feed phytogenic market is projected to be worth US$ 782.3 million in 2023. By 2033, the market is expected to surpass US$ 1,142.13 million. The demand for phytogenic feed is expected to expand at a CAGR of 3.5% during the forecast period.

The feed phytogenic industry is an emerging segment of the animal feed industry, which has witnessed significant growth over the past few years. Feed phytogenic products are plant-based additives. They are used in animal feed to enhance animal performance, gut health, immunity, and overall well-being. The increasing demand for animal protein and livestock production, along with the ban on antibiotic growth promoters in animal feed, has been driving the growth of the market.

Despite the growing demand for feed phytogenic products, the industry still faces certain challenges that act as restraints for market growth. The lack of awareness and knowledge regarding the usage and benefits of phytogenic feed additives. As well as the unavailability of standardized testing methods poses challenges for manufacturers in terms of product development and marketing.

The feed phytogenic industry offers several opportunities for market players to expand their business and increase their market share. The rising trend of natural and organic products is providing significant growth opportunities. Moreover, increasing awareness among consumers regarding the benefits of natural products is expected to drive the market.

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Key Takeaways from the Feed Phytogenic Market:

The United States feed phytogenic industry is expected to exceed US$ 175 million by 2033, owing to the industry’s increased demand for chicken meat.
Vietnam and Indonesia are two of the Asia Pacific region’s leading feed producers.
Rising animal health concerns and a taste for natural commodities are expected to propel the feed phytogenic business in Germany.
Brazil is expected to lead the feed phytogenic market because of the region’s enormous development potential.
Poultry is expected to continue to be the most appealing livestock propelling the sales of phytogenic feed.
The most popular type of plant-derived chemical utilized in cattle is essential oils.
Herbs and spices have recently attracted a lot of attention in the feed industry.
From Global Giants to Local Players: How Phytogenic Feed Industry is Standing Out with Unique Offerings

The feed phytogenic industry has a highly competitive landscape, with numerous global and local players operating in the market. Tier-1 and tier-2 players, including Biomin, Cargill, Delacon, DuPont, Kemin Industries, Adisseo, Pancosma, and Nutrex, dominate the global market. Due to their brand reputation, product differentiation, financial stability, strategic advances, and diverse regional presence. These companies have a global reach and varied product ranges, making it difficult for new players to enter the market and compete.

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In addition to these dominant players, there are also numerous local firms present in the phytogenic feed industry. These players have a strong understanding of the regional market and have built a loyal customer base. They often focus on producing low-cost products, which allows them to compete with the key players in the market.

The phytogenic feed industry is characterized by intense R&D activities, with companies continuously investing in the development of new and innovative products. This has led to several mergers, partnerships, and collaborations among players to leverage their collective strengths and expand their market presence.

Key Developments in the Feed Phytogenic Market:

Kemin Industries added VANNIXTM C4, an innovative phytogenic feed additive, to their range of chicken gut health products in January 2020 in North America.
In January 2020, Delacon Biotechnik GmbH launched BioStrong Comfort. A product designed to reduce the impact of heat stress during periods of high temperature and humidity. It contains antioxidants derived from plants in the United States and Canadian markets.
In 2017, Delacon and Cargill formed a partnership to provide better solutions for their customers. This included a minority stock investment from Cargill. After entering the Russian market in 2019, Delacon introduced its phytogenic products to China in March 2020.
In October 2020, Royal DSM, a multinational corporation specializing in nutrition and health acquired Erber Group for €980 million. To expand their phytogenic feed additive offerings.

 

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