Newark, Sept. 28, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global dairy enzymes market is expected to grow from USD 695.46 million in 2021 to USD 1321.13 million by 2030, at a CAGR of 7.39% during the forecast period 2022-2030.
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The increased consumption of dairy products associated with healthy eating is anticipated to expand the demand for dairy enzymes during the projection period. Moreover, the increasing demand for low-lactose & lactose-free dairy products, the changing lifestyles and food consumption, and the environmental advantages associated with enzymes are also helping to propel market growth. However, the controlled operating conditions, associated dairy allergy, and strict & critical guidelines to handle enzyme production and usage restrain the market growth. Furthermore, the emerging applications of dairy by-products are opportunities for market growth.
Competitive Strategy
To enhance their market position in the global dairy enzymes market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 695.46 million |
| Revenue Forecast by 2030 | USD 1321.13 million |
| CAGR | 7.39% from 2022 to 2030 |
| North America Market Share | 45.38% in 2021 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Chr. Hansen A/S, Kerry Group., Dow, Novozymes, Cargill, SternEnzym GmbH & Co. KG, Advanced Enzyme Technologies Limited, Fytozimus Biotech, Biocon, Danisco A/S, DuPont, ENMEX, Wilbur-Ellis Holdings, Inc., Genencor International, Inc., FrieslandCampina, Biocatalysts, Roquette Frères, DUMOCO, Amano Enzyme Inc., Fonterra Co-operative Group Limited |
Market Growth & Trends
The growth of the dairy enzymes market is driven by the increasing prevalence of lactose intolerance and raised demand for processed & ready-to-use food products. Moreover, the expanding usage of microbial rennet is the market growth trend. Further, the rennet is a set of enzymes that help coagulate milk, splitting the curd from whey in the cheesemaking procedure. Rennet cheese is made with only three other elements: salt, milk, and a starter culture of bacteria or mold. In addition, the growing customer preference for digestive health-related items has kept probiotic food products, and the proliferation in the consumption of dairy products related to healthy eating habits is also helping to drive the market growth during the forecast period. Also, the surge in the number of fast food chains and food & beverage MNCs, the high youth population, changing customer preferences, and the advent of improved methods of production of inexpensive rennet are boosting the market growth.
Key Findings
• In 2021, the cheese segment dominated the market with the largest market share of 21.13% and market revenue of 146.95 million.
The application segment is divided into ice cream and desserts, infant formula, whey, cheese, yogurt, milk, and others. In 2021, the cheese segment dominated the market with the largest market share of 21.13% and market revenue of 146.95 million. This growth is attributed to the growing consumer preference for low-lactose milk products.
• In 2021, the microbial rennet segment dominated the market with the largest market share of 28.17% and market revenue of 195.91 million.
The product type segment is divided into microbial rennet, chymosin, lipase, lactase, and others. In 2021, the microbial rennet segment dominated the market with the largest market share of 28.17% and market revenue of 195.91 million. This growth is attributed to the increase in the vegan population across the world.
• In 2021, the animal & microorganism segment dominated the market with the largest market share of 55.23% and market revenue of 384.10 million.
The source segment is divided into animals & microorganisms, and plants. In 2021, the animal & microorganism segment dominated the market with the largest market share of 55.23% and market revenue of 384.10 million. This growth is attributed to the increasing awareness about antibiotic-free animal-derived products for animal health and wellbeing.
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Regional Segment Analysis of the Dairy Enzymes Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global dairy enzymes industry, with a market share of 45.38% and a market value of around 315.59 million in 2021. North America dominates the dairy enzymes market due to the new applications of dairy enzymes in sectors such as protein fortification. Moreover, the escalating consumption of dairy products & penetration of milk in the food & beverage industry is also helping to drive the region's market growth. Further, the Asia Pacific region is expected to show the fastest CAGR of 9.14% over the projection period. This growth is attributed to the economic growth of the region, along with the increasing demand for nutritious dairy products. In addition, growing product demand from the dairy & brewing sectors and the rising diet trends comprising hydration habits & healthy snacking are also propelling market growth in this region.
Key players operating in the global dairy enzymes market are:
• Chr. Hansen A/S
• Kerry Group.
• Dow
• Novozymes
• Cargill
• SternEnzym GmbH & Co. KG
• Advanced Enzyme Technologies Limited
• Fytozimus Biotech
• Biocon
• Danisco A/S
• DuPont
• ENMEX
• Wilbur-Ellis Holdings, Inc.
• Genencor International, Inc.
• FrieslandCampina
• Biocatalysts
• Roquette Frères
• DUMOCO
• Amano Enzyme Inc.
• Fonterra Co-operative Group Limited
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This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global dairy enzymes market based on below mentioned segments:
Global Dairy Enzymes Market by Application:
• Ice Cream and Desserts
• Infant Formula
• Whey
• Cheese
• Yogurt
• Milk
• Others
Global Dairy Enzymes Market by Product Type:
• Microbial Rennet
• Chymosin
• Lipase
• Lactase
• Others
Global Dairy Enzymes Market by Source:
• Animal & Microorganism
• Plant
About the report:
The global dairy enzymes market is analysed based on value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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