Rockville, June 07, 2023 (GLOBE NEWSWIRE) -- The recent research analysis by Fact.MR on the global market global food fungal enzyme provides a thorough overview of the industry’s product, end-user, and region categories. It also offers comprehensive details on important players and the crucial tactics they are turning to for gaining an upper hand over their competitors.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR, a market research and competitive intelligence provider, the global food fungal enzyme market is estimated at US$ 390 Million in 2023 and is expected to expand at an impressive CAGR of 7.6% during the forecast years of 2023-2033.
The major trend in the market development of food fungal enzymes is the shift towards natural and organic food products. Consumers are becoming increasingly health-conscious, and there is a growing demand for food products that are free from artificial ingredients and preservatives. Fungal enzymes are natural and safe to use, and they are widely accepted as a natural alternative to synthetic chemicals in the food industry.
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Fungal enzymes are widely used in the production of plant-based protein products such as tofu, soy milk, and plant based meat substitutes. As the demand for plant-based food products continues to grow, the demand for fungal enzymes is expected to increase.
Furthermore, the growing demand for convenience food products and the need for cost-effective food production processes have also contributed to the market of food fungal enzymes. Fungal enzymes are highly efficient and cost-effective, and they can improve the quality and consistency of food products while reducing the production time and costs.
Moreover, Fact.MR suggests that the investment in R&D to increase problem-based innovative product launches would transform the overall industry in the future forecast years.
Key Takeaways from Market Study
- The global food fungal enzyme market is projected to expand at an impressive CAGR of 7.6% and be valued at US$ 810 billion by 2033.
- The market witnessed a CAGR of 10.1% for the period of 2018-2022.
- The global food fungal enzyme market is poised to create absolute dollar opportunity of around US$ 420 million during the forecast period.
- By enzyme type, fungal enzyme is poised to grow with a CAGR of 7.1% during the forecast period.
- Europe dominated the market with 29.8% market share in 2023.
- Based on region, the food fungal enzyme market is expected to increase at CAGRs of 7.6% and 7.7%, respectively, in United States and China.
“Research and development activities in the food industry is expected to drive the market growth,” says a Fact.MR analyst.
Market Development
The food fungal enzyme market has seen significant market development in recent years due to the growing demand for processed food and the adoption of enzymes in the food industry. Fungal enzymes are widely used in the food industry for various applications such as baking, brewing, cheese making, and fruit juice processing.
In conclusion, the market development of food fungal enzymes is driven by various factors, including the demand for natural and organic food products, the increasing demand for plant-based food products, and the need for cost-effective food production processes. As the food industry continues to evolve, the demand for fungal enzymes is expected to grow, and new applications for fungal enzymes in the food industry are likely to emerge.
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Key Companies Profiled
- AB Enzymes GmbH
- Amano Enzyme Inc.
- Biocatalysts Limited
- Chr. Hansen Holding A/S
- DSM NV
- DuPont de Nemours, Inc.
- Jiangsu Boli Bioproducts Co., Ltd.
- Kerry Group plc
- Novozymes A/S
- Specialty Enzymes & Probiotics
Segmentation of Food Fungal Enzyme Industry Research
- By Enzyme Type :
- Fungal Amylase
- Fungal Xylanase
- Fungal Lipase
- Fungal Protease
- Fungal Proteanase
- Fungal Pectinases
- By Application :
- Baking
- Bread Production
- Cheese Production
- Fruit Juice Production
- Beer & Wine Production
- Meat Tendarization
- Flavour Production
- Protein Hydrolysis
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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What differences can the food fungal enzyme report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the food fungal enzyme and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
- Attractiveness quotient of emerging product/technology types in various products in the food fungal enzyme
- Micro-economics factors that may hamper the prospects of some of the key segments
- Recent spate of research and development (R&D) funding on key food fungal enzymes
- New business models paving way for disruptions in demand dynamic of key segments
- Regional markets that will be future engine of growth and the industry trends that will support these markets
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global food fungal enzyme, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of enzyme type (fungal amylase, fungal xylanase, fungal lipase, fungal protease, fungal proteanase, fungal pectinases), application (baking, bread production, cheese production, fruit juice production, Beer & Wine Production, meat tendarization, flavour production, protein hydrolysis) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Check out more related studies published by Fact.MR Research:
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Dairy Enzymes Market: The global market for dairy enzymes is poised to witness strong growth until 2031, expanding more than 2x. Applications for cheese production is slated to emerge dominant, resulting in sales worth US$ 150 Mn in the previous year and expanding at a CAGR of 7% until 2031.
Bacterial Amylase Market: The Bacterial Amylase market is predicted to grow at 7.2% CAGR during the forecast period. The Bacterial Amylase market has high growth potential due to growing food processing and functional food industries.
Coenzyme Q10 Market: The global coenzyme market is estimated to be valued at US$ 689.5 million in 2023 and it is expected to grow at a CAGR of 7.2% to reach US$ 1,381.9 million by the end of 2033.
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