Dublin, Feb. 02, 2022 (GLOBE NEWSWIRE) -- The "Global Bakery Enzymes Market By Product Type (Lipase, Protease and Other Types), By Application (Breads, Cookies & Biscuits, Cakes & Pastries and Other Applications), By Form (Powder and Liquid), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Bakery Enzymes Market size is expected to reach $868.1 million by 2027, rising at a market growth of 9.3% CAGR during the forecast period.
In the past, Bakery products could only be afforded by few people and regarded as expensive. However, with the change in time and increase in disposable income of people, many households around the world consists of some or other bakery product. Bakery products owe their popularity to their ingredients and most important among them is the enzyme. Enzyme is a protein catalyst that acts up upon the dough to enhance the process of the making of the final product.
The most common bakery enzyme in amylase, this enzyme catalyzes the hydrolysis of starch into the sugars which produce softness in the process of cake making and reduces the acrylamide formation in the bakery products. Moreover, the consumption of bakery products has increased remarkably due to the shifting lifestyle patterns.
COVID-19 Impact Analysis
The outbreak of COVID-19 pandemic created an unparalleled uncertainty in the business activities, governments' planning and lives of the millions. The food and beverage industry could not remain secure from the effects caused by the pandemic. The closure of supermarkets/hypermarkets, increased preference of people to consume home-made food, and less accessibility to packaged foods due to the restrictions are some of the effects witnessed by food & beverage industry.
As bakery falls under the food & beverage industry, it had seen similar trend during the pandemic, especially the second and third quarter of 2020. The shortage of raw material and labor caused a significant decline in the production of bakery product. Thus, small bakers in an unorganized sector were badly hit by the pandemic.
Market Growth Factors:
Growing demand of baked goods and confectionery
Baked products are accepted as staple food across many countries. The surge in demand for convenience food and consumer inclination towards appealing, tasty, healthy & textured products is expected to increase the demand for bakery enzymes. Producers in the business spend more money on higher-priced components in order to make goods that are lower in fat and calories. As a result, the number of product lines available has grown. Bakeries have begun to provide gluten-free and entirely organic desserts. Considering the demand of consumers, many companies have launched healthy bakery products which are loaded with whole grain, multi-grain, and natural flavors and are trans-fat free.
Rise in adoption of vegetarianism and demand for ready-to-eat products
In the modern age, many consumers are getting highly cautious of the different aspects like sustainability, health, and social impact while buying any product. Hence, the consumption of animal-based products has significantly decreased due to the large-scale adoption of vegetarianism around the world. In addition, the gradual transition from non-vegetarianism to vegetarianism is due to the rising number of environmental concerns. Hence, several bakers are introducing products that are free from egg and other non-vegetarian ingredients to fulfill the demands in the market.
Market Restraining Factor:
Excessive consumption may cause ill-effects
The excess of anything can cause the harmful effects. The overconsumption of bakery products that consist of baking enzymes can take a toll on the health of a person who is already suffering from allergies, ulcers, and headaches. Moreover, Genetically Modified Organisms enzymes that are used in bakery products cause adverse hepatic, pancreatic, and reproductive effects. Observing these ill-effects, many people resist themselves to consumer bakery product. Moreover, a majority of people prefer to consume fruits and vegetables rather than baked goods, for better health. Further, the excessive consumption of baking products can lead to bloating which may be painful for many people.
Product Type Outlook
Based on Product Type, the market is segmented into Lipase, Protease and Other Types. The lipase has a superior effect in high speed mixing and no-time dough processes. These enzymes can improve strength and stability of dough, enhance dough rheology, hence enhancing dough machinability.
Application Outlook
Based on Application, the market is segmented into Breads, Cookies & Biscuits, Cakes & Pastries and Other Applications. Biscuits are a type of baked flour-based dish that is usually hard, flat, and unleavened. The demand for biscuits and cookies is being pushed by customer demand for convenient snacking combined with healthy components.
Form Outlook
Based on Form, the market is segmented into Powder and Liquid. Bakery enzymes in the powder form are highly preferred by the end-users of enzymes such as bakery industry and food service industry. The demand for powder form bakery enzymes is high as liquid state is not easy to handle & sensitive, and mostly causes spillage.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific is expected to showcase the fastest growth rate during the forecasting period. In addition, the region is home to countries like India and China which have massive population base demanding baked products due to their taste.
Cardinal Matrix - Bakery Enzymes Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Koninklijke DSM N.V. , Novozymes A/S, Kerry Group PLC , Associated British Foods PLC are the forerunners in the Bakery Enzymes Market. Companies such as Lallemand, Inc., DuPont de Nemours, Inc., and Advanced Enzyme Technologies Limited are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Koninklijke DSM N.V., Kerry Group PLC, DuPont de Nemours, Inc., Associated British Foods PLC (Wittington Investments Limited), Novozymes A/S, Advanced Enzyme Technologies Limited, Amano Enzyme, Inc., Sternenzym GMBH & CO. KG, and Lallemand, Inc.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun - 2020, Dec) Leading Players
Chapter 4. Global Bakery Enzymes Market by Product Type
4.1 Global Lipase Market by Region
4.2 Global Protease Market by Region
4.3 Global Other Types Market by Region
Chapter 5. Global Bakery Enzymes Market by Application
5.1 Global Breads Market by Region
5.2 Global Cookies & Biscuits Market by Region
5.3 Global Cakes & Pastries Market by Region
5.4 Global Other Applications Market by Region
Chapter 6. Global Bakery Enzymes Market by Form
6.1 Global Powder Market by Region
6.2 Global Liquid Market by Region
Chapter 7. Global Bakery Enzymes Market by Region
Chapter 8. Company Profiles
8.1 BASF SE
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.2 Koninklijke DSM N.V.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.1 Recent strategies and developments:
8.2.1.1 Acquisition and Mergers:
8.2.1.2 Product Launches and Product Expansions:
8.3 Kerry Group PLC
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.4 DuPont de Nemours, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Product Launches and Product Expansions:
8.5 Associated British Foods PLC (Wittington Investments Limited)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.6 Novozymes A/S
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Product Launches and Product Expansions:
8.7 Advanced Enzyme Technologies Limited
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Recent strategies and developments:
8.7.4.1 Partnerships, Collaborations, and Agreements:
8.7.4.2 Acquisition and Mergers:
8.8 Amano Enzyme, Inc.
8.8.1 Company Overview
8.9 Sternenzym GmbH & CO. KG
8.9.1 Company Overview
8.10. Lallemand, Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Acquisition and Mergers:
8.10.2.2 Product Launches and Product Expansions:
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