Food Enzymes Market is segmented by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Source, Application (Food & Beverages), Formulation, and Region (North America, Europe, Asia Pacific, and South America).
The Food Enzymes Market is approximated to have a market value size of USD 2.2 billion in 2021 and is estimated to reach USD 3.61 billion by 2028 at 6.4% CAGR.
Food Enzymes can be found in raw food. The process of digestion begins when food enzymes become present in one’s diet. Presence of food enzymes are important because it digest protein, fat, carbohydrates and fiber. The growth of Food Enzymes Market is mainly contributed to factors such as, rising environmental issues, urbanization, higher disposable income, innovations in research and development. Other factors like technological advancements in enzyme engineering as well as genetically engineered enzymes caused the spike in growth of this market. Additionally, food enzymes’ multifunctional benefits in many applications along with the innovations in technology in reducing consumption of chemicals are other factors contributing to the growth of the market.
Challenges in the Market
Temperature plays a big role in food enzymes condition. A sudden drop in the temperature can considerable change reaction rate while a rise in the temperature can change the nature of the enzyme structure or worst, deteriorate it making it unusable. Denaturation of food enzymes can happen when there is a varying pH outside the operational range. Until now, manufacturers are trying to create food enzymes that can withstand different temperature and pH range but to no avail, there are still hindrances and issues towards developing a flexible-natured food enzymes.
Another threat in the food enzymes market is the scrutiny it receives in the European region in terms of its application in the food and beverage industry. This is due to the introduction of large-scale production of food enzymes having genetically modified microorganism.
Impact of COVID-19 in the Food Enzymes Market
Many industries adapted to and adopted the changes that are imposed upon them by their governments. A major set back on the growth of the food enzymes market is the disruption of supply chain since manufacturing and distribution of key players or companies are being limited, if not, controlled by governments by imposing lock downs and halting travels across borders.
The market is facing a challenge of disruption in raw material supplies because it is negatively affecting manufacturers since travel, transport of raw materials, facility operations, and non-essential trade has been put off in many countries. This in turn affected production, causing fewer volume of product sales. Export and import sales are affected as well since border restrictions and flights are banned.
Positively, the pandemic caused a spike in the growth of the market of food enzymes since consumers are now highly aware of the health benefits and significance of consuming food products with enzymes. Nutritious eating plays a big part in the promotion of the market considering that the virus targets immune systems causing respiratory ailments. Functional foods are in demand seeing that there are various health benefits proven from consuming it.
Key Findings in the Market
In terms of type, the carbohydrases segment is expected to have the largest share accounted for in 2021. This segment is further classified into amylases, cellulases, and other carbohydrases like pectinases, lactases, mannanases, and pullulanases are also included. Carbohydrases are commonly utilized in the bakery, confectionery, dairy and processed foods industries.
In terms of application, during the forecast period, the food segment is expected to have the largest share in the market accounted for. The growth of this segment is mainly attributed to the increasing demand for enzymes application in the food and beverage industry. The food and beverage segment is further segmented into, meat processing, dairy products, bakery products, nutraceuticals, and other food products like processed fruits & vegetables, processed food, and vegetable oil processing.
Regional Market Analysis
In terms of region segment, Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2021-2028. The increased in growth is mainly attributed to factors like high purchasing capacity of consumers because of economic development in said region, demand for better quality processed food, consumers’ preference has changed and trade liberalization.
Key Players: Share and Competition
The major key players in this market who have a strong product portfolio and an extensive assessment of the market landscape are, DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), and Kerry Group (Ireland), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan) and CHR. Hansen Holdings A/S (Denmark).
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Other carbohydrases
• Polymerase & nuclease
• Other types
Source Analysis (Revenue, USD Million, 2021 - 2028)
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Meat products
• Bakery & confectionery products
• Dairy products
• Other food products
• Other Beverages
Form Analysis (Revenue, USD Million, 2021 - 2028)
• Lyophilized powder
• Other formulations
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Food Enzymes Industry Research Report
• Europe Food Enzymes Industry Research Report
• Asia Pacific Food Enzymes Industry Research Report
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