Market Research Report
Australia Food Enzymes Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||613154|
|Published||Content info||80 Pages
Delivery time: 2-3 business days
|Australia Food Enzymes Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: May 1, 2020||Content info: 80 Pages||
The Australian food enzymes market is projected to register a CAGR of 6.8% during the forecast period (2020-2025).
Carbohydrases Holds the Largest Market Share
Carbohydrases can be classified into amylase, cellulase, xylanase, and pectinase, based on the specific class of carbohydrase that is required to break down the cell walls of different plants, made up of different structural carbohydrates. Therefore, the players operating in the market studied are intensively producing carbohydrase to satiate the consumer demand for a better enzyme. Additionally, manufacturers are engaged in the development of a cocktail of carbohydrase enzymes to produce healthier foods and enhance the value of food processing byproducts. The ingredient caters to the market studied with its extensive benefits, including increasing the energy value of cereals and cereal byproducts, improving nutrient release in full-fat vegetable protein seeds and in vegetable protein meals, and enhancing the digestibility of starch in corn-based diets, among others.
Beverage Segment is Likely to Drive the Market
Enzymes are a boon to the beverage industry, as the reactions they catalyze are indispensable for the latter. The beverage segment comprises food enzyme application in alcoholic and non-alcoholic beverages, with carbohydrase and lipase as the major categories of enzymes. Additionally, enzymes provide three major functions, namely, the formation of sugar that is used during fermentation, viscosity control, and chill-proofing for beer. In the brewing industry, the major enzymes used include cellulose, alpha-amylase, and beta-glucanase for the liquefaction, clarification, and supplementing of malt enzymes. Some of the key benefits of brewing enzymes include better malt separation, extraction yield, and beer filtration and stabilization.
The Australian food enzymes market is concentrated among major international players, while the domestic players continue to face tough competition to gain market share. Novozyme, DSM, DuPont, and Kerry Group are the dominant players in the market studied. Obtaining approvals for the use of enzymes in food products is the major factor affecting the companies. Most of the players in the market studied are opting for new product launches as a key strategy to gain market share.