Food Enzymes Market to Reach $3.1 Billion by 2026

September 20 01:11 2022
Food Enzymes Market to Reach $3.1 Billion by 2026
The increasing purchasing power of consumers due to the economic development in APAC countries has led to an increase in the demand for high-quality processed food.

According to MarketsandMarkets, the food enzymes market is estimated to be valued at USD 2.2 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 6.4%, in terms of value. The robust growth of the food enzymes market stems from its indispensable role in the processing aspects related to bakery and confectionery, dairy, meat products, and beverages, to name but a few. The specificity of enzymes to their substrates and subsequently facilitating the rate of biochemical reactions in the processing of food products is primarily responsible for the growth of the global food enzymes market.

Food Enzymes Market

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On the basis of type, food enzymes are classified into five types; Carbohydrase, Protease, Lipase, Polymerase & nuclease, and other types. Carbohydrase segment has shown significant growth in the market due to its wide range of usage across various applications. Due to its wide applicability, food industries use this food enzyme in several recipes to intensify the flavour, texture, and taste profiles. R&D activities help the industry to innovate products and meet the demand of industries by increasing production.

Based on application, the food enzymes market is segmented into Food (Meat products, Bakery & confectionery products, Dairy products, Nutraceuticals, and other food products) and Beverage (Juices, Brewing/beer, and Other beverages). The growth of bakery products is mainly because of their easily availability, rich flavor profiles, and affordable. With the growing awareness for nutritional foods, protein-based substances, such as nut products are incorporated into bakery to fulfill the demand of the health-conscious consumers. Enzymes have helped in improving quality while decreasing processing time and production costs. Therefore, food industries are largely adopting this technology in tenderizing meat and facilitating the fermentation process for making beer, yogurt, and cheese.

Asia Pacific is projected to witness the fastest growth in the food enzymes market during the forecast period due to the increase in urbanization, middle-income population, and growth in FMCG industry. The demand for food products like bread, biscuits, and cakes has encouraged food industries to opt for food enzymes that improve the overall performance of the product.

The North American region is projected to grow at the fastest rate in the food enzymes market during the forecast period. The growth is witnessed tremendous growth in the food enzymes market, mainly attributed to the growing demand from food manufacturers to preserve the freshness, appearance, texture, taste, and safety of processed and packaged foods. Furthermore, the demand for processed foods, owing to food retail chains and convenience, will aid in increasing demand for food enzyme applications in this region.

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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen Holdings A/S(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), Aumgene Biosciences (India), Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), and Antozyme Biotech Pvt Ltd (India).

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