NEW YORK, USA, Oct. 05, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Food Enzymes Market By Type (Carbohydrase, (Amylase, Cellulose, Lactase, Pectinase, Other Carbohydrates), Proteases, Lipases, Polymerase & Nuclease, and Other Types), By Source (Microorganisms, Plant, and Animals), By Application (Food, Meat Products, Bakery & Confectionery Products, Dairy Products, Nutraceuticals, Other Food Products, Beverages, Juices, Brewing, and Other Beverages), By Form (Lyophilized Powder, Liquid, and Other Formulations), and By Region – Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” in its research database.
What is the Food Enzymes Market Growth?
“According to the latest research study, the demand of global Food Enzymes Market size & share was witnessed a value of around US$ 2,164.2 million in 2021and it is expected to surpass around USD 3,104.8 million Mark, by 2028, at a compound annual growth rate (CAGR) of about 6.2% during the forecast period 2022 to 2028.”
The report analyzes the food enzymes Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the food enzymes market.
What are Food Enzymes? How big is the Food Enzymes Market?
In both humans and animals, food enzymes are protein molecules. They power natural and biological processes in humans and animals. Enzymes are essential for all chemical reactions in the body and thus life. They are deliberately added to processed foods to perform a technological function in food processing.
Food enzymes act as a biological catalyst, enhancing the quality of various processed foods. Demand for bakery and confectionery products has increased due to the penetration of organized retail sectors in both urban and rural areas.
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- Facts and Factors research methodology
|Market Size in 2021||USD 2,164.2 Million|
|Projected Market Size in 2028||USD 3,104.8 Million|
|CAGR Growth Rate||6.2% CAGR|
|Key Market Players||DuPont (US) Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen (Denmark), Kerry Group (Ireland), Jiangsu Boli Bioproducts Co., Ltd. (China), Biocatalysts Ltd. (UK), Puratos Group (Belgium), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan), Enzyme Development Corporation (US), ENMEX, S.A. de C.V. (Mexico), Enzyme Bioscience Private Limited, Aumgene Biosciences (India) Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), Antozyme Biotech Pvt Ltd (India)., and Others|
|Key Segment||By Type, Source, Application, Form, and Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
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What are the factors driving the Food Enzymes Market?
The increased consumer awareness regarding safe and healthy foods is driving the global food enzymes market in the forecast period. In addition, rising competition for processed foods and rising need for environmentally sustainable production techniques, and high enzyme reaction specificity and food quality are two macroeconomic factors boosting the global food enzymes market. The waste reduction and energy savings in food processing will drive the growth rate of the food enzymes market in the coming years.
Furthermore, an increase in the demand for nutraceutical products increased consumption of alcoholic and non-alcoholic beverages, and the replacement of old chemicals in many industries are major drivers that will accelerate the growth rate of the food enzymes market. Moreover, the increase in the number of emerging applications and innovative technological platforms will increase the potential for the food enzymes market to flourish. However, the market’s growth pace will be hampered by a limited temperature, pH operational range, and a stringent regulatory framework.
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Which segment accounted for the largest Food Enzymes Market share?
The Food Enzymes Market is segregated based on Type, Source, Application, and Form.
Based on Type, the global market is distinguished into Carbohydrase, Amylase, Cellulose, Lactase, Pectinase, Other carbohydrates, Proteases, Lipases, Polymerase & nuclease, and other types. The carbohydrates segment is anticipated to lead the market during the forecast period.
Based on Source, the global market is distinguished into Microorganisms, Plant, and animals. Microbial enzymes will continue to dominate the market because they are more cost-effective and stable than plant and animal enzymes.
Based on Application, the global market is distinguished into Food, Meat Products, Bakery & confectionery products, Dairy products, Nutraceuticals, Other food products, Beverages, Juices, Brewing, and Other Beverages. Based on Form, the global market is distinguished into Lyophilized Powder, Liquid, and Other formulations.
What is the Impact of COVID-19 on Food Enzymes Market?
The current pandemic has highlighted the importance of safe, healthy, and nutritious eating. The COVID-19 crisis should benefit the market for food enzymes due to their use in nutritional and immune products. While global ingredient sales grow, major players in the food enzymes industry are establishing regional production. R&D and sales departments are also optimizing raw material supply chains. However, the COVID-19 outbreak has made it difficult for food ingredient manufacturers to meet increased demand for food enzymes.
During the pandemic, manufacturers, suppliers, and retailers scrambled to keep up with demand for functional foods. During the COVID-19 lockdown, supply chain disruptions occurred across countries. The impact of COVID-19 on the food enzyme supply chain and the availability of raw materials will be a challenge throughout the forecast period. Changes in food enzyme safety regulations will limit market growth.
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Who are the key players in the Food Enzymes Market?
Some of the main competitors dominating the global food enzymes market include –
- DuPont (US) Associated British Foods plc (UK)
- DSM (Netherlands)
- Novozymes (US)
- CHR. Hansen (Denmark)
- Kerry Group (Ireland)
- Jiangsu Boli Bioproducts Co.Ltd. (China)
- Biocatalysts Ltd. (UK)
- Puratos Group (Belgium)
- Advanced Enzyme Technologies Ltd (India)
- Amano Enzyme Inc. (Japan)
- Enzyme Development Corporation (US)
- S.A. de C.V. (Mexico)
- Enzyme Bioscience Private Limited
- Aumgene Biosciences (India) Creative Enzymes (US)
- SUNSON Industry Group Co.Ltd (China)
- AUM Enzymes (India)
- Xike Biotechnology Co. Ltd. (China)
- Antozyme Biotech Pvt Ltd (India)
Key Insights from Primary Research:
- The Food Enzymes market is predicted to grow at a CAGR of over 6.2%, as per our market expert’s analysis.
- The Food Enzymes market size is estimated roughly USD 2,164.2 million in 2021, and it is predicted to be valued around USD 3,104.8 million by 2028.
- Many smaller companies competed with the industry leaders in terms of application specificity of food enzymes generated. Quality manufacturing strain generated by manufacturers influences this.
- By Application, Food segment is likely to dominate the market during the forecast period. Food enzymes are in high demand due to the increasing use of enzymes in the food and beverage industry.
- Microbiological enzymes are easier to mass synthesise than plant or animal enzymes. Many molecular and biochemical techniques can be used to boost their selectivity. In the forecast timeframe, microbial-derived food enzymes will remain dominant.
- On the basis of region, the North America accounted for the largest share of the global food enzymes market in the forecast period.
Key questions answered in this report:
- What are the top five global food enzymes players?
- How will the market look like in five years?
- What are the food enzymes market’s drivers and restraints?
- Which region’s market will increase the most?
- What will the food enzymes market’s CAGR and size is during the forecast period?
- Which area offers the greatest benefit to the global market?
- What are the business risks, and how will the current situation affect growth and market perception?
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Which region offers the best opportunity and growth for Food Enzymes Market?
North America is the most important market for enzyme uses in the food industry. The region’s high consumption of meat and animal products is one of the primary reasons driving the food enzymes industry. The United States is the regional and global market leader in enzyme production and consumption, owing to increased spending on premium grade products and consumer demand for processed meals including naturally sourced components.
During the forecast period, Asia Pacific is expected to grow at the fastest rate. Consumer spending power has increased as a result of economic development in APAC countries, leading to an increase in demand for high-quality processed food. As a result of their properties as vital healthy food additives, the market for enzymes in food and drinks is expected to rise. Changes in consumer preferences and trade liberalization have increased demand for goods such as beef and meat products in the country.
- In 2021, IFF (a DuPont company) announced the launch of Nurica enzyme in China, providing dairy producers with a new way to manufacture a premium product that meets consumer health needs while enhancing profitability. Nurica is IFF’s most recent product for the Chinese market, and it is sold under the Danisco brand of food additives.
- In 2021, DuPont Nutrition & Biosciences (DuPont) released NovaGARD NR 100-G, part of the DuPont Danisco line of antimicrobials, to preserve meat products safe and high in quality throughout their shelf life throughout the Middle East and Africa (MEA).
- In 2021, Biocatalysts Ltd, an enzyme expert, announces the release of their new enzyme PromodTM 517MDP (P517MDP), which expands their portfolio of Kosher and Halal certified enzymes specifically targeting the dairy protein industry. P517MDP is a highly efficient exopeptidase that hydrolyzes casein protein at a rate of more than 40%.
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The global food enzymes market is segmented as follows:
- Other Carbohydrases
- Polymerase & nuclease
- Other Types
- Meat Products
- Bakery & Confectionery Products
- Dairy Products
- Other Food Products
- Other Beverages
- Lyophilized powder
- Other Formulations
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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