MeticulousResearch®–leadingglobalmarketresearchcompanypublishedaresearchreporttitled“Food Enzymes Marketby Source (Microorganisms, Animals, Plant), Type (Carbohydrase, Protease, Lipase), Form (Liquid, Solid), Application (Bakery, Dairy, Beverage, Meat Processing), and Geography-GlobalForecastto2024”.
According to this latest publication from Meticulous Research®, 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. The growth of this market is driven by factors such as growing awareness about nutritional requirements, demand for high performance and environment friendly manufacturing process, increasing demand for processed food products, and innovative developments in biotechnology. Moreover, emergence of developing countries as strong consumers for nutritional products provides growth opportunities in food enzssymes market. However, impact of temperature and pH on enzymes and excessive cost associated with research and developmentactivitieshindersthegrowthofmarketto someextent.
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ScopeoftheReport:
MarketbySource
• Microorganisms
o Fungi
o Bacteria
o Yeast
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• Animal
• Plant
MarketbyType
• Carbohydarse
o Amylase
o Lactase
o Pectinase
o Cellulase
o Hemicellulase
o Others
• Protease
• Lipase
• Others
MarketbyForm
• Liquid
• Solid
MarketbyApplication
• Bakery
• Dairy
• Beverage
• Meat,Fish,andEggProcessing
• GrainandOilseedProcessing
• Others
MarketbyGeography
• NorthAmerica
o U.S.
o Canada
• Europe
o Germany
o France
o Italy
o U.K.
o Spain
o RoE
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• Asia-Pacific(APAC)
o China
o Japan
o India
o Australia
o RoAPAC
• RestofWorld
o LatinAmerica
▪ Brazil
▪ Mexico
▪ Argentina
▪ RoLATAM
o MiddleEastandAfrica
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Theglobalfoodenzymesmarketstudypresentshistoricalmarketdata(2017and2018),estimatedcurrent data (2019), and forecasts for 2024-by source (microorganisms, animals, plant), type (carbohydrase, protease,lipase),form(liquid,solid),application(bakery,dairy,beverage,meatprocessing).Thestudyalso evaluatesindustrycompetitorsandanalyzesthemarket atregionalandcountrylevel.
Onthebasisofsource,microorganismscommandedthelargestshareoftheglobalfoodenzymesmarket in 2018, mainly due to their lower production costs; possibility of large-scale production in industrial fermenters;widerangeofapplicationinthebeverage,bakery,dairy,andmeatindustry;andapprovalfrom leadingorganizationsfortheiruseinvariousfoodproducts.Thedemandformicroorganismsourcedfood enzymes is further expected to increase significantly during the forecast period mainly because of food industry’sgrowingfocusonimprovingthequalityandquantityoftheproductsproducedbythegenetically modifiedfoodenzymes,reducingtimeoffoodprocessing,anddevelopingeco-friendlyfoodprocess.
On thebasisof type, carbohydrasemarketdominated the global food enzymes market in 2018dueto its increasedapplicationsinbeverageanddairyindustryandadvancesintechnologicalcapabilities.However, lipaseisexpected to growatafastestCAGR duringtheforecastperiodowingtovariousfactorsincluding its low extraction cost; growing demand from dairy manufacturers; ease of handling, and properties such ashighstabilitytowardstemperaturesandsolvents,widepH range,andbroadsubstratetolerance.
Onthebasisofapplication,dairyindustryisexpectedtogrowatafastestCAGRduringtheforecastperiod intheglobalmarket,whichismainlyattributedtoincreasingmilkoutput,growingtrendofeatinghealthier foodproducts,highawarenessabouthealthcondition,andgrowinglactose-intolerancepopulation.
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This research report analyzes major geographies and provides comprehensive analysis ofNorth America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, and RoE), Asia-Pacific (China, India, Japan, Australia,andRoAPAC),LatinAmerica(Brazil,Mexico,Argentina,andRoLATAM),andMiddleEast&Africa. TheNorthAmericaregiondominatedthefoodenzymesmarketin2018andisalsoexpectedtodominate this market for the next five years. The large share of this market is mainly attributed to increased
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consumptionofproteaseandlipaseduetohugedemandforhealthyandhighlynutritionaldietproducts. This increased consumption in the region is providing new opportunities for vendors to expand their productportfoliointhemarket.However,Asiancountriesareslatedtoregisterafastestgrowthduringthe forecastperiod,primarilyduetoglobalshiftofmanufacturingfromNorthAmerica&EuropetoAsia-Pacific region and related rise in the demand for food enzymes from the food manufacturers. In addition, rising industrialization and significant growth in food processing industry, growing government initiatives to improvethefoodprocessingsector,andhugeavailabilityofrawmaterialarethekeyfactorspropellingthe growthoftheAsia-Pacificfoodenzymesmarket.
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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)amongothers.
Keyquestionsansweredinthereport-
• Which are the high growth market segments in terms of source, type, form, application, and region/countries?
• Whatwasthehistoricalmarketforfoodenzymesacrosstheglobe?
• Whatarethemarketforecastsandestimatesfortheperiodof2018-2024?
• What are the major drivers, restraints, opportunities, and challenges in the global food enzymes market?
• Whoarethemajorplayersintheglobalfoodenzymesmarket?
• How is the competitive landscape and who are the market leaders in the global food enzymes market?
• Whataretherecentdevelopmentsintheglobalfoodenzymesmarket?
• Whatarethedifferentstrategiesadoptedbythemajorplayersintheglobalfoodenzymesmarket?
• Whatarethegeographicaltrendsandhighgrowthregions/countries?
• Whoarethelocalemergingplayersintheglobalfoodenzymesmarketandhowdotheycompete withtheglobalplayers?
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