Food Enzymes Industry Size | Global Market Trends, Industry Share Growth, Opportunities, and Market Forecast to 2023
Food Enzymes Market Information: By Type (Carbohydrases, Protease, Lipase), Source (Plant, Animal, Microorganism), Application (Bakery & Confectionery, Snacks, Dairy & Frozen Desserts, Oils, Fats & Spreads, Beverages), And Region Forecast Till 2023
Food Enzymes Market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR will be attained by the market over the forecast period of 2018 to 2023. The valuation of the food enzymes market was further stated to surpass its previous valuation with the revenue pool getting wider.
Key Players:
Chr. Hansen A/S (Denmark), E. I. du Pont de Nemours and Company (U.S.), Koninklijke DSM N.V. (the Netherlands), Advanced Enzymes (India), Puratos Group (Belgium), Associated British Foods PLC (U.K), Novozymes A/S (Denmark), Dyadic International, Inc. (U.S.), and Amano Enzyme Inc. (Japan).
Market Overview:
Food enzymes are used for improving the quality and the nutritional properties of food & beverage items. Enzymes are referred to as natural proteins that are derived from animals, plants, and microbial sources. These enzymes aid in simplifying the food processing steps, one which directly enhances the food quality. Food enzymes are also seen added to enhance the flavors, texture, and organoleptic properties of foods & beverages.
There are many driving factors behind the growth of the food enzymes market. This includes factors like increasing use for fermentation, reduced carbon emissions, softening and digestive, shift to healthy food products, environment benefit, upgradation and technological innovation, high performance, higher productivity, rise in per capita income, product penetration, and health problems linked with digestive care. However, factors like limitations related to pH range and temperature, constraints in brewing industry, counterfeiting of food packaging, inconsistent and unclear regulatory processes, and high pricing associated with research and development activities can hamper the growth of the food enzymes market over the forecast period.
Key Findings:
- Global food enzyme manufacturers find massive opportunity in China, owing to the huge demand for enzymes in processing food & beverage products.
- Application of food enzymes in dairy & frozen desserts is witnessed to be the fastest growing segment over the forecast period.
Market Segmentation:
The global food enzymes market has been segmented in terms of type, source, and application.
By type, the market is narrowed down into lipase, carbohydrase, protease, and others. Among these, the lipase segment will have the maximum share of the market and is reported to be followed by the protease segment, which is showing considerable growth due to the growing use of protease in beverage as well as food items.
By source, the market is segmented into microorganism, plant, animal, and others. The plant-based food enzymes segment is anticipated to dominate the market over the forecast period.
By application, the market is segmented into ready meals, fats and spreads, beverages, oils, sweets and savory snacks, dairy and frozen desserts, bakery and confectionery, and others. The dairy and frozen desserts segment is reported to have the highest share in the market due to increasing demand for food enzymes especially in dairy products, the booming expansion of the dairy segment, and the rising per capita disposable income.
Regional Analysis:
The global food enzymes market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
North America is most likely to spearhead the global market due to the rising consumption of food enzymes by the food manufacturers of the region. The food enzymes market in the Asia Pacific region is slated to enjoy a promising share with China standing out as the largest contributor. Increasing rate of urbanization and globalization and the adoption of western food culture in countries like China and India are expected to boost the market growth in this region.
In Europe, the food enzymes market is forecasted to register significant growth due to the presence of various food processing and confectionary companies in countries like Germany and the UK. On the other hand, the food enzymes market in Latin America is expected to showcase steady growth rate due to the growing middle-class population and increasing level of disposable income.