Major companies are using advanced technologies and gadgets to produce the product by saving water and energy. Besides, these products are reducing the waste thereby making the product more sustainable. To encourage further growth in this area, many key players in this market are considering stepping into mergers and acquisitions for promoting R&D.
Fruit and Vegetable Processing Enzymes Market was worth USD 2.63 billion in 2018 and is deemed to be growing at a CAGR of 7.7%, to reach USD 3.830 billion by 2023.
DRIVERS AND RESTRAINTS:
The key factors contributing to market growth are listed as follows:
- Increased demand for convenience foods which are readily available for consumption.
- The growing importance of enzymes in various biochemical reactions that enhance the quality of products in the food and beverage industries.
The factors acting as hurdles for this market are:
- Strict regulations on packaging conditions such as pH and temperature.
- High R&D costs.
REPORT SEGMENTED AS:
Based on enzymes type:
- Other enzymes
Based on the application:
Based on product type:
- Wines and ciders
- Pastes and purees
Based on the form:
- Powder forms
Based on the source:
Geographically, the market is segmented into the Middle East and Africa. The market is steadily growing in this region due to the investments of several private multinational companies of developed nations owing to increase the market growth rate of this region.
KEY MARKET PLAYERS:
- I. du Pont de Nemours and Company
- Associated British Foods Plc.
- Novozymes A/S, Group Soufflet
- Koninklijke DSM N.V.
- Amano Enzyme Inc.
- Sunson Industry Group
- Advanced Enzymes
THE SCOPE OF THE REPORT:
The report offers an extensive overview of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with huge growth potential debated and identified.
The key players in this market sector are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis of prime strategical activities about the market players who are delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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