VANCOUVER, BC, Sept. 9, 2021 /PRNewswire/ -- The global food enzymes market size was USD 2,058.0 Million in 2020. Rising demand for food enzymes from the food & beverage industry and increasing health awareness among an increasing number of consumers is driving global food enzymes market revenue growth to a significant extent. Also, market players are focusing on producing enzymes for which large scale production is not possible, thereby offering customers access to a wider variety of products. One such enzyme is amylase, which is used to extend the freshness of breads.
Drivers: Increasing demand for convenience food
Convenience foods are witnessing increasing demand due to benefits of saving time and energy. Products include frozen foods, ready-to-eat snacks, canned foods, and chilled foods. Increasing number of consumers who prefer eating on the go is driving demand for convenience foods is driving demand as these products offer convenience and ease of use and quick delivery, among various others advantages. Presently, consumers worldwide are indicating a shift in preference for products that are natural, customizable, and nutritious, without compromise on flavor and health benefits. This is driving rising use of food enzymes in convenience food to improve texture, flavor, and nutritional value, and to cater to rising requirements among consumers.
Click Here to Access Free sample PDF Copy of the Report@ https://www.emergenresearch.com/request-sample/780
Restraints: Limited operational range
Characteristics and functions of food enzymes are very much influenced by various conditions, especially temperature. Food enzymes are also highly sensitive to changes in physical and chemical conditions in the immediate surroundings. Limited operational temperature range is key restraint for market revenue growth. A dip in temperature results in extreme reduction in rate of reaction, whereas high temperature damages the structure of enzymes, thus rendering it ineffective. Furthermore, high cost to produce food enzymes and easy contamination possibility are some factors impacting market growth. Players in the market exploring more innovative methods to produce food enzymes that can stay functional in a wider temperature range.
Growth Projections
The global food enzymes market size is expected to reach USD 3,309.9 Million at a revenue CAGR of 6.1% in 2028, attributed to increasing advancements in technology to manufacture enzymes in a more efficient way and to decrease the amount of energy and raw materials required for the production process. Also, rising emphasis on enzyme customization to cater to changing customer demand is a key factor supporting market revenue growth.
COVID-19 Direct Impacts
COVID-19 pandemic has a significant influence on food enzymes market revenue growth, as the pandemic has brought to the fore the importance of eating nutritious food. Market players have increased production output to supply food enzymes to food & beverages companies to cater to burgeoning consumed demand for healthy food. However, disruptions in supply chain caused by COVID-19 are posing significant challenges to market players in terms of raw material procurement and supply of end products.
Make Payment [Buy your Exclusive copy]@https://www.emergenresearch.com/select-license/780
Current Trends and Innovations
Rising disposable income, especially in Asia Pacific, and increasing consumer inclination towards healthier lifestyle habits are some of the prevailing trends in the global food enzymes market. This coupled with rapid urbanization is spurring demand for diversified high nutritional value diets among consumers and in turn, driving market revenue growth.
Geographical Outlook
Food enzymes market in Asia Pacific is expected to register fastest revenue CAGR over forecast period, attributed to rising per capita income and growing use of enzymes in foods and beverages in countries such as China, India, South Korea, and Japan. In addition, presence of leading market players like Amano Enzyme Inc. are causative of robust market revenue growth.
Strategic Initiatives
In December 2020, Advanced Enzyme Technologies Ltd. made an announcement about purchase of majority share in SciTech Specialities. The acquisition is intended to aid in expansion of business-to-consumer segments of Advanced Enzyme Technologies Ltd. and offer significant application in human health and animal nutrition areas.
Some Key Highlights From the Report
- Among the source segments, plants segment revenue is expected to expand at faster rate over forecast period. Food enzymes derived from plants is beneficial for curing diseases, such as celiac disease, and are ideal for individuals who are intolerant to gluten. In combination with certain probiotics, food enzymes can enhance immune function, along with digestion improvement.
- Among the product type segments, lipase segment revenue is expected to expand at a significantly rapid rate over the forecast period. Lipase is beneficial in improving fat absorption and supplements containing this enzyme aids in reducing bloating and fullness after meals. Lipase is also beneficial to individuals with irritable bowel syndrome.
- Among the application segments, food segment accounted for largest revenue share in 2020. Food enzymes find extensive use in baking applications to produce bread, crackers, baked foods, and waffles. Use of these enzymes help to lessen time required for mixing, reducing dough consistency, and enhancing food flavor and texture.
- Some major companies operating in the market include Amano Enzyme Inc., Enzyme Bioscience Pvt. Ltd., DuPont, Royal DSM, Biocatalysts Ltd., Novozymes, Kerry Group, Associated British Foods PLC, Puratos Group, and Chr Hansen Holding A/S.
Have a look at Report Description and Table of Contents of Market Report@https://www.emergenresearch.com/industry-report/food-enzymes-market
Emergen Research has segmented the global food enzymes market on the basis of source, product type, application, and region:
- Source Outlook (Revenue, USD Million; 2018-2028)
- Microorganisms
- Animals
- Plants
- Product Type Outlook (Revenue, USD Million; 2018-2028)
- Carbohydrase
a. Amylase
b. Cellulase
c. Lactase
d. Others - Protease
- Lipase
- Polymerases
- Nucleases
- Others
- Application Outlook (Revenue, USD Million; 2018-2028)
- Food
a. Bakery & Confectionery Products
b. Meat Products
c. Dairy Products
d. Nutraceuticals
e. Others - Beverages
a. Brewing Products
b. Juices
c. Fortified Beverages
d. Others
Avail Limited Time Discount on Food Enzymes Market@ https://www.emergenresearch.com/request-discount/780
- Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
a. U.S.
b. Canada
c. Mexico - Europe
a. Germany
b. U.K.
c. France
d. Italy
e. Spain
f. Sweden
g. BENELUX
h. Rest of Europe - Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC - Latin America
a. Brazil
b. Rest of LATAM - Middle East & Africa
a. Saudi Arabia
b. UAE
c. South Africa
d. Israel
e. Rest of MEA
Explore Similar Reports offered by Emergen Research:
The global Artificial Intelligence (AI) in food and beverage market size was USD 3.33 Billion in 2020 and is expected to register a CAGR of 44.4% during the forecast period. Market revenue growth is primarily driven by increasing need to improve food safety standards. Increasing adoption of AI in the food & beverages industry to enhance food quality and safety are among some other key factors expected to drive market growth during the forecast period.
The global smart food market is expected to reach a market size of USD 940.98 Billion by 2028 and register a double-digit CAGR of 10.0% during the forecast period. Market revenue growth is primarily driven by increasing research and development activities for advancements in the global food industry.
The global synthetic food market is forecasted to grow at a rate of 5.2% from USD 15.37 billion in 2019 to USD 23.05 billion in 2027. The demand within the analyzed regions for synthetic food has been driven by the advancements in the worldwide food and beverages industry. The rising trend of eating out at restaurants as well as buying packaged food has played a major role in driving the growth of the market.
The global alternative proteins market was valued at USD 2.20 Billion in 2019 and is anticipated to reach USD 3.89 Billion by 2027 at a CAGR of 7.4%. The global demand for premium proteins is booming with socio-economic changes like rising incomes, increased urbanization, and aging population.
The Global Food Safety Testing System Market size was valued at USD 19.94 billion in 2019 and is expected to reach USD 33.78 billion by 2027 at a CAGR of 6.5%. Increased chemical pollution in food processing industries due to the inappropriate use of techniques for the production of ready-to-eat food is likely to increase the market demand for products over the forecast period.
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Custom Intelligence services | Growth Consulting Services
Facebook | LinkedIn | Twitter | Blogs
Read Full Press Release@ https://www.emergenresearch.com/press-release/global-food-enzymes-market
Logo: https://mma.prnewswire.com/media/1579538/Emergen_Research_Logo.jpg
