The global food enzymes market size is expected to reach USD 3,309.9 Million at a revenue CAGR of 6.1% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising demand for food enzymes from food & beverage industry. Enzymes are used in various applications such as in cheese making, bakery items, production of fruit, starch processing, and beverages and drinks. These ingredients enhance texture, nutritional value, appearance, and generate desirable aroma and flavor. Enzymes are used as an alternative to existing chemical-based technologies and are replacing synthetic chemicals in various processes. Enzymes also help in enabling eco-friendly production processes, through biodegradability and lower energy consumption during production.
The report is refurbished with the impact of the COVID-19 pandemic on the global Food Enzymes market. The pandemic and subsequent social restrictions have dynamically changed the market and impacted the economic scenario of the market through disruptions in the supply chains, financial difficulties, and changes in the demands and trends of the industry. Moreover, a shift in consumer behavior has also affected the Food Enzymes industry. The report provides an in-depth impact analysis of the pandemic on the market to better understand the latest changes in the market and gain a futuristic outlook on a post-COVID-19 scenario.
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Food Enzymes Market Competitive Terrain:
The global Food Enzymes market is highly consolidated due to the presence of numerous companies operating across this industry. The report depicts the current market standing of these companies, their past performances, demand and supply graphs, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market. The leading market contenders listed in the report are: Amano Enzyme Inc., Enzyme Bioscience Pvt. Ltd., DuPont, Royal DSM, Biocatalysts Ltd., Novozymes, Kerry Group, Associated British Foods PLC, Puratos Group, and Chr Hansen Holding A/S.
Food Enzymes Market Key Highlights
In June 2019, North American business unit of The Brenntag Food & Nutrition made an announcement about signing a new distribution contract with AB Enzymes, Inc. to distribute its enzymes in Canada and US.
Among the source segments, microorganisms segment accounted for largest revenue share in 2020. Enzymes produced from microorganisms, including bacteria, fungi, and yeast, find extensive use in various food preparations to enhance texture and flavor. These are the favored enzyme sources owing to offering of various benefits, including cost-effectiveness, ease and consistent production. Also, these enzymes are more stable as compared to animal and plant sources.
Among the type segments, protease segment accounted for significantly large revenue share in 2020. Protease helps in several vital body functions, such as aiding food breakdown for energy. These enzymes help in reducing inflammation and ease body pain, including joint pain.
Among the application segments, beverages segment revenue is expected to register faster CAGR over forecast period. Rising demand for beverages such as juices due to increasing health consciousness among consumers is driving demand. Juice extraction using enzymes aids in higher yield. Also, addition of enzymes promotes release of several phenolic and nutritional ingredients in juice.
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Food Enzymes Market Market Segmentation:-
Emergen Research has segmented the global food enzymes market on the basis of source, product type, application, and region:
Source Outlook (Revenue, USD Million; 2018–2028)
Microorganisms
Animals
Plants
Product Type Outlook (Revenue, USD Million; 2018–2028)
Carbohydrase
Amylase
Cellulase
Lactase
Others
Protease
Lipase
Polymerases
Nucleases
Others
Application Outlook (Revenue, USD Million; 2018–2028)
Food
Bakery & Confectionery Products
Meat Products
Dairy Products
Nutraceuticals
Others
Beverages
Brewing Products
Juices
Fortified Beverages
Others
Key Regional Markets Analyzed in the Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Food Enzymes market, including the global and regional analysis of the market. The study covers critical information and factual data about the Food Enzymes industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Food Enzymes market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Food Enzymes industry.
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