WASHINGTON, June 27, 2023 (GLOBE NEWSWIRE) -- Global Food Enzymes Market is valued at USD 2.3 Million in 2022 and is projected to reach a value of USD 3.5 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 6.60% over the forecast period 2023-2030.
One of the most significant economic areas is the Food Enzymes business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Food Enzymes, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Food Enzymes market growth over the forecast period. One of the main factors favorably affecting the demand for Food Enzymes is the rising prevalence of diabetes due to bad eating habits, sedentary lifestyles, and high-stress levels.
We forecast that the carbohydrates category in Food Enzymes market sales will account for more than 34% of total sales by 2030 due to its extensive use in various food industry. Carbohydrases catalyze the carbohydreates breakdown into sugar. An extensive use of carbohydrates in food industry is driving this segment.
North America dominates the market, and this trend of dominance will continue throughout the projection period. Factors like consuming clean labeled Products, rising demand for natural ingredients and ongoing biotechnical advancements drive increased demand for Food Enzymes in this region.
Market Dynamics
Growing Demand for Bio-based Additives in Processed Foods and Beverages to Drive the Market:
Processed foods now contain more bio-based ingredients as a result of rising consumer demand for chemical-free, all-natural goods. In comparison to manufactured chemicals, enzymes offer a number of advantages in product processing and for human ingestion. They are created by different microbes, plants, and animals. Numerous benefits that cannot be attained by a conventional chemical therapy are produced by the ongoing use of enzymes. Higher product quality, cheaper production, fewer waste, and less energy use are a few of them. Traditional synthetic chemical treatments tend to be generic, difficult to manage, and may lead to unequal conditions..
Increased Biotechnological advancements to Promote Market Growth:
The market growing significantly due to biotechnology developments that have improved the production method for enzymes. Modern biotechnology has already developed methods that make it possible to create microbial hosts that are reliable and effective in being used to produce different enzymes. The major food enzyme producers are concentrating on technical development to take advantage of the rising demand from various areas of the food business. In July 2019, AB Enzymes announced a collaboration with Genedata, a renowned provider of sophisticated software solutions for life science R&D, to digitalize strain creation and improve the efficiency of the discovery process for new enzymes.
Top Players in the Global Food Enzymes Market
- Novozymes A/S
- DuPont de Nemours, Inc.
- Koninklijke DSM N.V.
- Kerry Group PLC
- Chr. Hansen Holding A/S
- Amano Enzyme Inc.
- Biocatalysts Ltd.
- Jiangsu Boli Bioproducts Co., Ltd.
- Tate & Lyle PLC
- Advanced Enzyme Technologies Ltd.
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Top Trends in Global Food Enzymes Market
- One trend that Vantage Market Research (VMR) expects to see in the Food Enzymes industry is the rising incidence of processed food. The increasing demand for processed food has led to a rise in the consumption of food enzymes to enhance the quality, flavor, and texture of the processed food.
- Another trend that VMR predicts will continue in the Food Enzymes industry is increasing popularity of clean label products. The trend towards clean label products is driving the demand for natural food enzymes, thereby promoting the growth of the food enzymes market.
Top Report Findings
- Based on sourse, most of the Food Enzymes market's revenue is controlled by the Microbial enzymes category.As they are more table and cost effective than other catagories.
- Based on type, the carbohydrates category dominated the Food Enzymes market. This trend is anticipated to continue because of vast application of carbohydrates in food industry.
- Based on application, the bakery category dominated the Food Enzymes market, and it is anticipated that this trend will continue because growing demand for clean label, organic and high quality bakery products.
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Top 10 Players Generates More Than 45% of the Global Food Enzymes Market Revenue
The report also found that the largest players in the Food Enzymes market are technology providers such as Novozymes A/S, DuPont de Nemours, Inc., Koninklijke DSM N.V. and Kerry Group PLC. These companies are expected to benefit from increased demand for their products and services, as well as growing investments in new products. Other major players include Novozymes A/S, DuPont de Nemours, Inc., Koninklijke DSM N.V., Kerry Group PLC, Chr. Hansen Holding A/S, Amano Enzyme Inc., Biocatalysts Ltd., Jiangsu Boli Bioproducts Co., Ltd., Tate & Lyle PLC, Advanced Enzyme Technologies Ltd. and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 42% revenue of the market.
Bakery Category in Food Enzymes Market to Generate Over 36% Revenue
The category that is likely to develop the highest revenue in the food enzymes market is bakery products. This is because bakery products such as bread, cakes, and pastries are consumed on a large scale globally, and enzymes such as amylases, proteases, and lipases are used extensively in their production. The increasing demand for bakery products due to changing lifestyle patterns, rising disposable incomes, and urbanization is expected to drive the growth of the food enzymes market in the bakery segment. Additionally, the growing trend of clean label and natural food ingredients is also boosting the demand for food enzymes in the bakery sector as they are used as natural processing aids to improve the quality and texture of the baked products.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Food Enzymes Market Forecast Report (2023-2030).
Global Food Enzymes Market Segmentation
By Source
- Microbes
- Plants
- Animals
By Type
- Carbohydrates
- Proteases
- Lipases
- Others
By Application
- Bakery
- Dairy
- Beverages
- Neutraceuticals
- Other Processed Foods
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 2.3 Million |
| Revenue Forecast by 2030 | USD 3.5 Million |
| CAGR | 6.60% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Novozymes A/S, DuPont de Nemours, Inc., Koninklijke DSM N.V., Kerry Group PLC, Chr. Hansen Holding A/S, Amano Enzyme Inc., Biocatalysts Ltd., Jiangsu Boli Bioproducts Co., Ltd., Tate & Lyle PLC, Advanced Enzyme Technologies Ltd. |
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