Global Food Enzymes Market to be Driven by the changing consumer lifestyle and inflating disposable income in the Forecast Period of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 2 billion
- Forecast CAGR (2021-2026): 3%
- Forecast Market Size (2026): USD 2.7 billion
Changing consumer lifestyles and disposable income, especially in emerging economies, are driving the global food enzymes market. Manufacturers are focusing on the production of goods with high nutrition content and great taste as a result of increasing customer health awareness.
Because of its increased use in cheese and yoghurt fermentation, the lipase section, among others, is expected to rise at the fastest CAGR during the forecast period. It’s also used in the bakery, dairy, and fat and oil industries. The thriving food and beverage industry is assisting this segment’s development, which in turn is assisting the overall growth of the food enzymes industry.
Industry Definition and Major Segments
Food enzymes are enzymes that are found in raw foods and are responsible for beginning the digestive process when eaten. Food enzymes serve as a catalyst, breaking down nutrients such as vitamins, fats, and other compounds into simpler forms, facilitating good digestion even further. It may improve the flavour, texture, and scent of drinks, baked goods, and dairy products. It’s used to keep goods fresh, coagulate them, and tenderise them.
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The different sources of the product are:
- Microorganisms
- Bacteria
- Fungi
- Plants
- Animals
The various types of the product available in the market are:
- Carbohydrase
- Amylase
- Cellulase
- Lactase
- Pectinase
- Others
- Protease
- Lipase
- Others
On the basis of formulation, the industry is divided into:
- Powder
- Liquid
- Others
On the basis of application, the food enzymes market is divided into:
- Beverages
- Processed Foods
- Dairy Products
- Bakery Products
- Confectionery Products
- Others
The report also covers the regional food enzymes markets like:
- North America
- Europe
- the Asia Pacific
- Latin America
- the Middle East and Africa.
Market Trends
The growing use of food enzymes in processed foods and high-quality food items is driving the global demand for food enzymes. Inflationary income levels, changing consumer lifestyles, and an increasing preference for processed foods all help the industry. Over the forecast period, the market is expected to benefit from increasing urbanisation and the widespread availability of food enzymes and derived goods. Food enzymes are used in the manufacture of bakery products such as bread, biscuits, pastries, doughnuts, and rolls because they serve as a catalyst for biochemical reactions, enhancing product consistency. One of the most important markets for food enzymes is bakery products. Furthermore, the overall food enzymes market is experiencing increased demand as a result of the growing demand for environmentally friendly manufacturing processes.
Key Market Players
The major players in the market are Amway Corp., Kerry Inc., Puratos, BASF SE, Amano Enzyme Inc. and Bioseutica. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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