Global Food Enzymes Market was valued US$ 2.5 Bn in 2017 and is expected to reach US$ 4.9 Bn by 2026, at CAGR of 8.78 % during forecast period.
The global food enzymes market is majorly driven by factors such as awareness about nutritional requirements, which has increased rapidly in recent years. This nutritional awareness is associated with growing urbanization, pollution, health diseases, and changing dietary habits. Also, the government initiatives in educating rural people about nutrition, increasing the proportion of working women, educated people, and the availability of less time for food preparation has increased the demand for nutritional food. Furthermore, the people are ever changing towards more value-added food categories and their search for health is having a great effect on the nutritional products. Therefore, consumer gradually prefers nutritionally rich healthy food, which in turn, leads to its increased production by food processors.
Various end-users such as packaged food units and frozen food manufacturing industries are rapidly adopting these additional extracts for better product standardization and uniformity. The processing units make wide usage of speciality additives to carry out environment-friendly processes, resulting in less raw material wastage, further increasing the revenue generation. Food enzymes are used as biocatalysts to increase the production rate. Moreover, they are majorly required in alcoholic and non-alcoholic beverages to break down pectins present in the plant cell walls. These benefits will propel the industry growth until 2026. Also, the government initiatives in educating rural people about nutrition, increasing the percentage of working women, educated people, and the availability of less time for food preparation have improved the demand for nutritional food.
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At the same time, the lack of standardized regulatory guidelines may hinder the industry growth during the forecast period. Barriers in the developing industry are another factor that decreased product sales. Additionally, high costs associated with the R&D activities will further be limiting and challenge for the global market participants. Also, the key players are focusing on developing cost-effective methods for their production.
Based on application, the bakery segment led the global food enzymes market in 2017. Moreover, enzymes to the dough improve the bread baking process. Lipase is an enzyme that has recently found rise the usage of these enzymes in an application in bakery products, as compared to protease and amylase, which have always been used in this sector. While protease is useful for the dough mixing process and for reducing the processing time, lipase is preferable, as it raises the shelf life of bakery products.
Among the regions, North America is a dominating region in the market. It is expected to maintain its dominance in the food enzymes market throughout the forecast period because of technological advancements have made food enzymes available for an extensive range of applications in the food & beverage sector, which is projected to boost growth in this region. The Asia Pacific is estimated to hold the largest share in the global food enzymes market over the forecast period, due to the rising awareness, market potential for existing products, and unexplored application segments.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global food enzymes market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global food enzymes market.
Scope of Global Food Enzymes Market:
Global Food Enzymes Market, By Type:
• Processed foods
• Dairy products
• Bakery products
• Confectionery products
• South America
• Middle East & Africa
• Associated British Foods Plc.
• Chr. Hansen
• Brenntag Pte.
• Kerry Group
• Jiangsu BoliBioproducts
• Puratos Group
• Advanced Enzymes Technologies
• Amano Enzyme
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