Portland, OR, Nov. 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global dairy enzyme industry generated $574.2 million in 2021, and is projected to reach $1.1 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $574.2 million |
| Market Size in 2031 | $1.1 billion |
| CAGR | 6.4% |
| No. of Pages in Report | 330 |
| Segments Covered | Type, application, source, and region |
| Drivers | Increase in the standard of living |
| Increase in the availability of customized solutions to improve texture and flavors of dairy products | |
| Opportunities | Remarkable perks of immobilized enzyme technology such as high convenience, low cost, and high stability |
| Rise in demand for ice-cream and flavored milk-based products |
COVID-19 Scenario:
- The outbreak of COVID-19 pandemic had a negative impact in the growth of the global dairy enzyme market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in temporary closure of various hotels, restaurants, ice-cream parlours and businesses, which adversely impacted the growth of the market.
- In addition, shortage of workforce, strict transportation restrictions, and unfavourable disruption in the supply chain during the pandemic further aggravated the impact on the market.
- These stringent restrictions were imposed by the government to significantly curb the spread of the virus during the already unprecedented situations.
- However, despite growing influence of the pandemic or nearly every economic area the dairy enzyme market witnessed a remarkable growth in the recent period and is further predicted to grow in the post-pandemic era, once the restrictions are lifted off.
The report offers detailed segmentation of the global dairy enzyme market based on type, application, source, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on type, the carbohydrase segment held the dominating market share in 2021, holding around half of the global market, and is expected to maintain its leadership status during the forecast period. The lipase segment, on the other hand, is expected to cite the fastest CAGR of 8.2% during the forecast period.
Based on application, the cheese segment held the largest market share in 2021, holding around one-third of the global market, and is expected to maintain its leadership status during the forecast period. The whey segment, on the other hand, is expected to cite the fastest CAGR of 11.2% during the forecast period.
Based on source, the microorganisms segment held the dominating market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The animal segment, on the other hand, is expected to cite the fastest CAGR of 7.5% during the forecast period.
Based on region, the market across North America held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.2% during the forecast period.
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The key players analyzed in the global dairy enzyme market report include Associated British Foods plc, Advanced Enzyme Technologies, BASF SE, Chr. Hansen Holding A/S, DuPont de Nemours, Inc., Kerry Group Plc, Novozymes A/S, Koninklijke DSM N.V., Aumenzymes, Amano Enzyme Inc., Wilbur-Ellis Holdings, Inc., Biocatalysts, Stern-Wywiol Gruppe, Phythozymes, Infinita Biotech Private Limited.
The report analyzes these key players in the global dairy enzyme market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
