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The $3.12Bn Global Food Enzymes Market by Source, Type, Form, Application and Geography – Forecast to 2024

BusinessWire

DUBLIN–(BUSINESS WIRE)–The “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” report has been added to ResearchAndMarkets.com’s
offering.

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 the proportion of working women, educated people,
and the 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 the growing need to meet the nutritional
requirements of the 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 environmentally friendly
manufacturing process, increasing demand for processed food products,
and innovative development in biotechnology are also bolstering the
growth of this market. Furthermore, the emergence of developing
countries as a strong consumer for nutritional products is expected to
create significant opportunities for the global food enzymes market
vendors.

However, the impact of temperature and pH on enzymes and excessive cost
associated with research and development activities are inhibiting the
growth of food enzymes market.

Segment Analysis

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; the 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, the 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 the presence of a large number of
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 a large 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).

Market Insights

Drivers

Restraints

Opportunities

Trends

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Insights

5 Global Food Enzyme Market, by Source

6 Global Food Enzyme Market, by Type

7 Global Food Enzyme Market, by Formulation

8 Global Food Enzyme Market, by Application

9 Global Food Enzyme Market, by Geography

10 Competitive Landscape

11 Company Profiles (includes Business Overview, Financial Overview,
Product Portfolio, Strategic Developments)

For more information about this report visit https://www.researchandmarkets.com/r/3koreb

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Related
Topics: Food
and Beverage, Dairy
Products, Food
Processing, Baked
Goods, Enzymes
, Feed
Additives , Food
Additives

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