Market Research Report
Food Enzymes Market by Source (Microorganisms, Animals, Plant), Type (Carbohydrase, Protease, Lipase), Form (Liquid, Solid), Application (Bakery, Dairy, Beverage, Meat Processing), and Geography- Global Forecast to 2024
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|Published||Content info||228 Pages
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|Food Enzymes Market by Source (Microorganisms, Animals, Plant), Type (Carbohydrase, Protease, Lipase), Form (Liquid, Solid), Application (Bakery, Dairy, Beverage, Meat Processing), and Geography- Global Forecast to 2024|
|Published: May 7, 2019||Content info: 228 Pages||
The global food enzymes market is expected to grow at a CAGR of 7.5% from 2019 to reach $3,125.1 million by 2024 from $2,176.9 million in 2019. The global food enzymes market is majorly driven by growing awareness about nutritional requirements, which has increased rapidly in recent decades. This nutritional awareness is associated with increasing urbanization, pollution, health diseases, and changing dietary habits. Also, the government initiatives in educating rural people about nutrition, increasing proportion of working women, educated people, and availability of less time for food preparation have increased the demand for nutritional food. The population is ever changing towards more value-added food categories and their hunt for health is having a great impact on the nutritional products. As a result, consumer increasingly prefers nutritionally rich healthy food, which in turn, leads to its increased production by food processors. Hence, due to growing need to meet nutritional requirement of population, nutritional food manufacturers are increasingly incorporating enzymes into their products, thus driving the growth of the global food enzymes market. Further, demand for high performance and environment friendly manufacturing process, increasing demand for processed food products, and innovative development in biotechnology are also bolstering the growth of this market. Furthermore, emergence of developing countries as a strong consumer for the nutritional products is expected to create significant opportunities for the global food enzymes market vendors. However, impact of temperature and pH on enzymes and excessive cost associated with research and development activities are inhibiting the growth of food enzymes market.
The global food enzymes market is mainly segmented by source (microorganisms, animals, plant), type (carbohydrase, protease, lipase), forms (liquid, solid), application (bakery, dairy, beverage, meat processing), and geography.
Based on source, food enzymes market is categorized into microorganisms, plant, and animal. Microorganism sourced enzymes accounted for the largest share of the global food enzymes market in 2018. The large share of microorganism sourced food enzymes is mainly attributed to their lower production costs; possibility of large-scale production in industrial fermenters; wide range of application in the beverage, bakery, dairy, and meat industry; and approval from leading organizations for their use in various food products. The use of microorganisms to produce food enzymes is further expected to increase significantly during the forecast period mainly because of the growing demand to meet the needs of the food industry such as improvement in quality and quantity of the product produced by the genetically modified food enzymes, reduction in time of food processing, and eco-friendly food process.
Based on type, global food enzymes market is categorized into carbohydrase, protease, lipase, and others. Lipase is expected to grow at the highest CAGR during the forecast period owing to various factors including its low extraction cost; growing demand from dairy manufacturers; ease of handling, and properties such as high stability towards temperatures and solvents, wide pH range, and broad substrate tolerance.
Based on application, global food enzymes market is divided into bakery; dairy; beverage; meat, fish, and egg processing; grain and oilseed processing; and others. Bakery processing industry dominated the global market in 2018, mainly due to presence of large bakery product manufacturers and increasing demand for the healthier fortified baked products and product innovations.
Geographically, the global food enzymes market is segmented into North America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, and RoE), Asia Pacific (China, India, Japan, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and Middle East & Africa. An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies along with the coverage of major countries in each region. North America commanded the largest share of the global food enzymes market in 2018, followed by Europe and Asia-Pacific. The large share of this region is mainly attributed to increased consumption of protease and lipase due to huge demand for healthy and highly nutritional diet products. This increased consumption in the region is providing new opportunities for vendors to expand their product portfolio in the market.
The key players operating in the global food enzymes market are AB Enzymes GmbH (Germany), Novozymes A/S (Denmark), Koninklijke DSM N.V. (The Netherlands), Dupont Industrial Bioscience (U.S.), Biocatalysts Limited (U.K.), Kerry Group (Ireland), Amano enzyme Inc. (Japan), Chr. Hansen Holding A/S (Denmark), Aum Enzymes (India), Advance Enzyme Technologies Ltd.(India), Enzyme Development Corporation (U.S.), Enmex S.A. de C.V. (Mexico), Jiangsu Boli Bioproducts Co., Ltd. (China), and Leveking (China).