Prominent players in pepsin market must variegate their product offerings, maintain competitive costs and expand in high growth regions to fortify their competitive advantage.
DUBAI, UAE / ACCESSWIRE / February 25, 2020 / Global sales of pepsin will exceed revenues of US$ 3.9 Bn in 2027. The market is poised for a steady growth outlook over the forecast period (2019-2027). Consumption of pepsin in protein supplements and digestive drugs is predominantly driving the sales. Pharmaceutical and food industries will continue to ascertain the growth of pepsin market, reveals Fact.MR in its new study.
"Use of pepsin as a food additive has gained traction, thereby generating significant demand from the food processing sector. Increasingly being favored by manufacturers to process gelatin and soy protein, pepsin continues to be a preferred substitute for rennin in cheese production as well," concludes the Fact.MR report.
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Pepsin Market - Key Takeaways
- Powdered pepsin accounts for over 60% market share.
- Pharmaceuticals industry will remain the leading end-use segment through 2029.
- Industrial end-use sector will generate a significant opportunity for pepsin manufacturers.
- Gains in pepsin market will be concentrated in Europe through 2029, with North America closing in.
Pepsin Market - Key Driving Factors
- Role of pepsin in treating anemic conditions is a significant market growth contributor.
- Pepsin's role as an appetite enhancer is garnering attention in food industry.
- Use of pepsin in cream novelties, meat alternatives and poultry is significant driving market growth.
- Pepsin is favored by manufacturers to recover silver from discarded photographic films, generating an upswing in demand.
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Pepsin Market - Key Constraints
- Lack of recent developments in inorganic growth strategies of market players is limiting market growth.
- Highly fragmented nature of competitive landscape makes it exceptionally onerous for players to outshine domestic and regional rivals.
Competition Landscape
The global pepsin market is highly fragmented. The leading players profiled in the report include, but are not limited to, Enzymology Research Center, Deyang Sinozyme, BIOZYM, Biolaxi Corporation, and Chongqing Jingkang Biotechnology. The key forte of market leaders is diverse product portfolio with pepsin production catering to various industries such as food and pharmaceuticals. Key players are channeling their efforts in maintaining competitive cost while offering broad range of pepsin variants. Asia Pacific except Japan will be the key regional focus of market players, as indicated by the Fact.MR report.
About the Report
This 170-page study offers readers with comprehensive market forecast on the pepsin market. Global, regional and country level analysis of the latest industry trends impacting the pepsin market are covered in this Fact.MR study. The report offers compelling insights on pepsin market on the basis of product form (liquid, powder), end-use sector (food and feed, industrial, pharmaceuticals), grade type (1:15,000, 1:10,000, 1:3,000) across seven regions (Asia Pacific Except Japan, Middle East & Africa, Japan, Europe, Latin America, North America).
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