Global Market Insights, Inc. provides a detailed overview of Food Enzymes Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Food enzymes Market size will surpass USD 3.6 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing consumer awareness regarding nutritional benefits offered by enzymes has resulted in increased product demand, thus driving the food enzymes market penetration. The strong application outlook for the food & beverage industry for product quality enhancement along with high acceptance from the bakery and confectionery applications to bread quality standardization and flour reduction level will escalate demand.

Numerous food processing units are extensively using these additives to attain environment-friendly processes, as these extracts are used as biocatalysts to increase the production rate. This leads to a considerable reduction in raw material wastage, resulting in shifting preference of the end-users. Several applications such as bakery, dairy, and confectionary are witnessing high adoption of protease, lactase, and carbohydrase owing to rising demand for extended product shelf-life and uniformity.

F&B industry has witnessed various trends, significantly impacting the global market growth. Fermentation of food is an emerging trend, that has gained traction among the industry participants. These products are fermented, that results in creation of a number of enzymes, intensifying their strength. Moreover, high usage of these additives for stabilizing the beverages and minimizing the off-odors will instigate immense growth potential in the coming years. However, excessive R&D costs and strict and critical guidelines to handle enzymes production and usage may hamper the industry growth over the next eight years.

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Carbohydrases will acquire a major share in the industry crossing USD 1.8 billion sales by 2024. Growing demand for prominent carbohydrases type such as amylase, pectinase, lactase, and cellulase will remain a key factor driving demand. These ingredients are significant in F&B industry and witness high consumption regularly. Phytase will exhibit over 7% CAGR till 2024 owing to its benefits in absorption of vital materials including magnesium and calcium, as well as and reduction of phytic acid.

Beverages applications of food enzymes market are likely to dominate the industry, registering over 50 kilotons demand by 2024. Rising consumption of beverages among different class of societies across the globe will result in increased product penetration. Provision of benefits such as increased processing capacity and economy enhancement in beverage industry will further propel the industry growth. The bakery will grow significantly owing to high product usage for enhancing dough stability, maintaining bread quality, and ensuring proper browning of bread.

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North America is expected to capture highest share in the global market and witness over 6.1% CAGR up to 2024. Rising trend for nutritional diet patterns, especially in U.S. will essentially support the regional growth. Increasing consumption of fortified meat, processed and canned products across the region has resulted in proliferating enzymes demand among the food manufacturer.

Asia Pacific food enzymes market will grow rapidly, witnessing over 7.5% CAGR from 2017 to 2024. Rising acceptance from various applications such as beverages, dairy, and RTE items along with high demand for convenience products will primarily drive the regional industry growth.

Royal DSM, Danisco, BASF, Lumis, Aumgene Biosciences, Enmex, Advanced Enzymes, and AB Group are among the noticeable participants in the food enzymes market. Other prominent industry players include Chr. Hansen, Enzyme Innovation, Thermo Fisher Scientific, Hayashibara Co., and Enzymes Solutions. Competitors are indulging in partnerships to strengthen their position in the industry.

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Market Analysis

Food Enzymes Market gains considerably by improving the quality of the nutritional properties of food and beverage products. The global food enzymes market is expecting growth with impressive CAGR during the forecast period (2017-2023), asserts Market Research Future (MRFR). Their report includes several drivers and segmental analysis for a better understanding of the food enzymes market in coming years. Simplifying food processing steps, enhancing quality, bettering flavors and texture are properties of food enzymes that have assisted in creating a niche in the food and beverages sector. By reducing the risk of microbial spoilage, food enzymes are also helping in the expansion of convenience food. In addition, rising health awareness among the consumers is also positively helping the food enzymes market. Governments are also investing much, alongside the private players, in research and development which can boost the market food enzymes market in coming years.

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Key Players and Industry Buzz

Some of the key players profiled in the Global Food Enzymes Market are

• KONINKLIJKE DSM N.V. (the Netherlands),
• PURATOS Group (Belgium),
• I. du Pont de Nemours and Company (U.S.),
• Novozymes A/S (Denmark) and
• Amano Enzyme Inc. (Japan),
• Associated British Foods plc (U.K),
• Advanced Enzymes (India),
• Hansen A/S (Denmark),
• Dyadic International, Inc. (U.S.)

Strategic developments play crucial in food enzymes market. These tactics often help in the expansion of the business as well as in upliftment of the company’s market value. For instance, Associated British Foods plc acquired Leicester-based sports nutrition company to expand their market reach. Among others, Chr. Hansen A/S is all set to buy Nutrition Physiology Company to help in the regional food enzymes market growth.

c-Lecta, a Leipzig-based company, has found investments from Belgium’s Capricorn Venture Partners and German company bm ∣ t. The company is aiming for innovations and upgradation of their existing batch of food enzymes.

Chemists from Julius-Maximilians-Universität Würzburg (JMU) in Bavaria, Germany, has found a new way to redesign enzymes. In the process, they first redesigned the surface of the enzyme levansucrase which helps the enzyme convert the table sugar into the polymer of fructose building blocks. What makes it more attractive for the food industry is that it doesn’t leave any by-products.

Segmentation

The global food enzymes market can be segmented by type, source, and application.

By type, the Food Enzymes Market can be segmented into Carbohydrase, Protease, Lipase and others. The lipase segment accounts for the maximum market share. Protease segment is also recording substantial growth in food & beverage products.

By source, the food enzymes market includes plant, animal, microorganism, and others. Plant-based food enzymes are anticipated to dominate throughout the forecast period.

By application, the Food Enzymes Market comprises Bakery & Confectionery, Sweet & Savory Snacks, Dairy & Frozen Desserts, Oils, Fats & Spreads, Beverages, Ready Meals and others. The dairy & frozen desserts segment is helming the market due to the increasing demand for food enzymes in dairy products.

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Regional Analysis

Region-specific analysis of the Food Enzymes Market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). 

North America is attributed to the maximum revenue share of the global market, and its dominance will remain the same during the forecast period. Food manufacturers base out of this region consumes a huge portion of the produced food enzymes which gives the regional market an unprecedented advantage.

The AAPC market is touted to grow with the highest CAGR during the forecast period with China playing a singular role in the growth of the regional market. Currently, the country generates the maximum market share in the region and is also opening up business opportunities for other countries and by inviting more business proposal can remain lucrative during the forecast period.