Market Research Report
Food Enzymes Market - Forecast (2020 - 2025)
|Published by||IndustryARC||Product code||385564|
|Published||Content info||113 Pages
Delivery time: 2-3 business days
|Food Enzymes Market - Forecast (2020 - 2025)|
|Published: March 11, 2020||Content info: 113 Pages||
To capitalize over the growing demand for convenience food, the F&B sector added an additional front into its product portfolio with the advent of frozen, packaged, and processed food. Packaged foods items are comprised of complex molecules, which are difficult to digest naturally. With the growth in uptake of packaged foods globally, application of food enzymes developed as an inevitability for F&B companies. Food enzymes are generally used as food additives to enrich digestibility, texture, and shelf life of food and beverages. Flourishing packaged food industry combined with increased awareness among consumers regarding nutritional and health benefits of natural food enzymes has boosted the global food enzymes market size to $1,610 million as of 2018.
The food enzymes market is bifurcated by type into variants such as carbohydrates, lipases, and proteases. Innovation has enabled the players to exploit several end-user industries such as bakery, dairy, beverages, meat products, and confectionery, consequently triggering the opportunities in the food enzymes market to be progressing at a compound annual growth rate (CAGR) of 5.90% during the forecast period 2019-2025.
Globally, top 50 groups made $92.66 billion in total confectionery products and bakery revenue in 2017 (+5.9% from 2016), 57% of which was generated by companies from America, Mexico, or Japan. An in-depth business analysis of various application in industry highlights bakery products to be holding the top rank progressing with an application CAGR of 5.70% through 2025.
A short description of operational properties of different food enzymes in bakery is-
Bakery product segment of food enzymes market is leveraging the trend of fast moving consumer goods (FMCG). According to India Brand Equity Foundation, food and beverages, including bakery, account for 19% of Indian FMCG industry valued at $52.75 billion in 2017-18, and is progressing with an impeccable CAGR of 27.86% towards the mark of $103.70 billion by 2020. Similar settings are prevailing across the globe with bakery products gaining traction owing to rising urban population with increasing disposable income.
After an acute analysis of the regional market insights, North America is calculated to be the leading hub in terms of food enzyme market demand with 34% global share in 2018. The sheer affluence is attributable to emerging economies including the U.S. and Canada, and their working population assimilating packaged, frozen and processed food as their staple diet.
The booming trend of fast-food in North America has augmented the trade of cheese, indirectly impacting the market of protease food enzyme. According to the Centers for Disease Control and Prevention, in 2016, one out of three Americans (36%) consumed a meal at fast-food eateries on any given day. Some of the leading fast-food chains across the U.S are McDonald's, KFC, Pizza Hut, Domino's Pizza and Burger Kings. Application of cheese in these F&B giants can be indicated by the fact that Leprino Foods, a leading market player, often rated as America's all-time monopolist, manages to converge an annual revenue of $3 billion by supplying mozzarella cheese to Pizza Hut, Domino's, and Papa John's.
Similarly, McDonald's for their buns claims to apply enzymes such as amylases. And KFC, the world's most popular chicken restaurant chain is now operating in 135 countries with more than 22,000 restaurants globally. Hence, the trend of processed food supplemented by retail outlets in North America is projecting the food enzyme market towards exponential growth.
The health associated adverse effects of certain enzymes is prevailing as a major challenge for the food enzymes market growth. The European Union recently enforced a guideline concerning about health risks linked with enzymes in F&B sector. However, with influx of investments into R&D, the manufacturing companies are focusing on developing products with regulated adverse effects.
Food Enzymes Market
Some of the key players operating in the global food enzyme market are Royal DSM N.V, EI DuPont DE Nemours & Co., Novozymes A/S, Chr Hansen A/S, Biocatalyst limited, AB enzymes GMBH, Kerry group PLCAum Enzymes, Amano Enzyme Inc., and Enmex SA DE CV.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the food enzyme market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of application industry in global food enzyme market, and their specific advantages.
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