The globalfood enzymesmarketsize is expected to rise considerably owing to extensive adoption of clean-labeled and natural ingredients in food and beverage industry. Fortune Business Insights, in its latest report, titled“Food Enzymes Market Size, Share and Industry Analysis, By Source (Microbes, Plants, and Animals), Type (Carbohydrases, Proteases, Lipases and Others), Application (Bakery, Dairy, Beverages, Nutraceuticals and Other Processed Foods), and Regional Forecast, 2020 2027.”,further observes that the market value stood at USD 1,695.65 million in 2019, which is likely to hit USD 2,393.64 million by 2027, while exhibiting a 4.70% CAGR during the forecast period.
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List of the Key Companies Operating in the Food Enzymes Market are:
- Novozymes (Denmark)
- DuPont (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- AB Enzymes (Germany)
- Koninklijke DSM N.V. (Netherlands)
- Chr. Hansen Holding A/S (Denmark)
- BASF SE (Germany)
- Nutritech Enzymes (Finland)
- Amano Enzymes, Inc. (China)
- Biocatalysts (UK)
What does the Market Report Include?
The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Food enzymes play an important role in sustaining life as all the biological reactions occurring within the human cells depend on them. In addition to this, they break down large molecules of proteins, fats, and proteins into a smaller fragment of molecules that can be easily absorbed by the small intestine within the human body. It is to note that without enzymes, the body would find it difficult to digest food while leading to food intolerance. Therefore, enzymes are vital and promote proper food digestion and work well to relieve certain stomach disorders such as irritable bowel syndrome (IBS).
Drivers and Restraints:
Increasing Consumption of Clean-Labeled Food to Surge Demand
According to the European Food Safety Authority (EFSA), long-term exposure of chemicals at high concentrated levels through food may have a toxicological effect on humans. Though they are essential building blocks, synthetic chemicals as additives have an adverse effect on health when consumed. Increasing awareness among people regarding the health concerns associated with the consumption of synthetic ingredients is expected to surge demand for clean-labeled food across the globe. The gradual shift of the consumers from chemical ingredients to naturally processed food products that are safe and healthy will boost the demand for food enzymes in the forthcoming years. For instance, in October 2019, Tiny Organics, a U.S.-based direct to consumer brand, announced its launch of organic plant-based recipes that are healthy for toddlers. The recipes include baby burrito bowls, pumpkin spice oatmeal, and coconut curry induced dishes.
Increasing Demand for High-quality Processed Food to Augur Growth in North America
Among the regions, North America is anticipated to remain dominant and register high global food enzymes market revenue in the forthcoming years. This is ascribable to factors such as growing demand for naturally occurring ingredients. Additionally, increasing demand for high quality processed food and rising investment s from manufacturers to develop innovative products is likely to drive the market growth in the region. Asia-Pacific, on the other hand is likely to register steady growth for the market during the forecast period. This is attributable to factors such as growing demand for bakery and dairy products.
Joint Ventures Among Companies to Spur Demand for Food Enzymes
In November 2019, Cargill along with DSM announced its plan to enter into a joint venture. Avansya, the joint venture between the two giants is about constructing a commercial facility to manufacture stevia sweeteners through the fermentation process. The companies are likely to consolidate their position with their collaboration by setting up the 10,000 sq. ft. plant that costs around USD 50 million, located at Blair, Nebraska. Adoption of strategies such as joint ventures, product launches, and expansion of product offerings by the companies to cater to the increasing consumer demand is likely to favor the global food enzymes market growth between 2020 and 2027.
- Other Processed Foods
- North America (U.S., Canada, and Mexico)
- Europe (U.K., France, Italy, Spain, Germany, Russia, and the Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, and the Rest of Asia- Pacific)
- South America (Brazil, Argentina, and the Rest of South America)
- The Middle East and Africa (South Africa, UAE, and the Rest of the MEA)
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- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
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- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
- In March 2020, Novozymes launched Saphera Fibre which is a lactase enzyme and aids in increase of the content of fibers. It also reduces sugar content in fermented and non-fermented dairy products.
- In February 2020, DuPont Nutrition and Biosciences has launched POWERBake 6000 and 7000 enzyme series created for European recipes of white breads and buns to meet the increasing demand for clean-label products.
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