Food Enzymes Market Global Industry- By Source ( Microorganisms, Fungi, Bacteria, Plants, Animals), Formulation ( Liquid, Lyophilized powder, Others), Type (Carbohydrase, Protease, Lipase, Others), Application ( Dairy products, Bakery products, Beverages, Starch Modification, Protein Modification, Meat Processing, Processed foods, Confectionery products, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Food Enzymes Market is expected to rise by a substantial CAGR of 6.96% and is expected to reach USD 4.84 billion by 2029 in the forecast period of 2020-2029. Major driver of the market includes high quality food along with growing demand of processed food.
Enzymes are proteins produced by live cells that help with chemical reactions without being changed. Enzymes are used in food processing for various purposes, such as the enhancement of nutritional value, the production of desirable aromas and flavourings, and in particular the control of food appearance and texture.
Food Enzymes Market Scope and Market Size
Food Enzymes Market has been segmented on the basis of source, formulation, type and application.
- On the basis of source segment, the food enzymes market is sub segmented into microorganisms, fungi, bacteria, plants and animals.
- Based upon the formulation segment, the food enzymes market is sub segmented into liquid, lyophilized powder and others. The others sub segment is further classified into gel and granular forms. The liquid segment is growing at highest CAGR because as it is easier to handle.
- On the basis of type segment, the food enzymes market is sub segmented into carbohydrase, protease, lipase and others. The carbohydrase sub segment is further categorised into amylase, cellulase, lactase, pectinase and others. The others section in carbohydrase sub segment is further categorised into pullulanase gluco-oxidase, xylanase and polygalacturonase. The others sub segment is further categorised into isomerases and transferases. The lipase segment is growing at highest CAGR because of the growth in food and beverage industry along with its application in dairy industry.
- The application segment in the food enzymes market is sub segmented into dairy products, bakery products, beverages, starch modification, protein modification, meat processing, processed foods, confectionery products and others. The others sub segment is further categorised into meat, poultry and fish tenderizing.
Country Level Analysis of Food Enzymes Market
- On the basis of region, the food enzymes market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
- Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
- North America is expected to hold largest market share which is due to rise in consumer demand for healthy processed food along with consumer demand for healthy processed food while Asia-Pacific region is expected to grow at the highest growth rate in the forecast period 2020 to 2029 because of the growth of China and India which are growing at a fast pace.
- The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
- Improvisation in food quality will drive the market growth.
- High reaction specificity is also going to boost the market growth.
- Growing necessity of processed food is also going to drive the market growth.
- Eco- friendly manufacturing process is also among the factor which is driving the market growth.
- Raising awareness about nutritional and healthy food is also going to drive the market growth.
- Energy savings and waste reduction is also among the factor which is driving the growth of the market.
- Lack of consistent safety regulations along with changing legislations is hampering the growth of the market.
- PH Operational range along with restricted temperature is also restraining the growth of the market.
Key Developments in the Market:
- In September 2019, DuPont launched POWERPasta Enzymes in order to help producers to earn more profit as local wheat is being used in it. POWERPastaTM helps to maintain the eating, cooking and serving quality and authentic color of durum pasta from pack to plate, while helping food companies realize the significant cost-saving potential of cheaper locally or regionally sourced wheat.
- In March 2019, AB Enzymes launched ROHALASE SEPARATION for starch processing. It provides many benefits, including reduced viscosity, optimized separation of starch and gluten phases, reduced freshwater consumption and reduced energy consumption.
Competitive Analysis and Food Enzymes Market Share Analysis:
Food enzymes market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of food enzymes market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Food Enzymes Market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated and global presence. Food Enzymes Market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Key Market Competitors:
Few of the major competitors currently working in global food enzymes market are Dow, DuPont, Associated British Foods plc, DSM, Novozymes, Chr. Hansen Holding A/S, Brenntag Pte. Ltd, Kerry Group plc, Jiangsu Boli Bioproducts Co.,Ltd. Biocatalysts, PURATOS, Advanced Enzyme Technologies, Amano Enzyme Inc., Enzyme Development Corporation, ENMEX, Aumgene Biosciences, BASF SE, Aum Enzymes, Sequence Biotech Pvt. Ltd, Infinita Biotech Private Limited, AB Enzymes, Dyadic International Inc., Creative Enzymes, Bioseutica, and many others.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved