Report Predicts Food Enzymes Market May Reach USD 3.6 billion by 2024
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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19. Thermo Fisher Scientific
20. Chr. Hansen Holding A/S
22. Codexis, Inc.
23. AB Enzymes
24. Enmex SA de CV
25. Advanced Enzymes
26. Aumgene Biosciences Pvt Ltd
27. Danisco Foods B.V.
28. BioResource International, Inc.
29. Specialty Enzymes & Probiotics
30. Lumis Biotech
32. Enzyme Solutions Inc
33. Enzymes Inc
34. Enzyme Innovation
Browse key industry insights spread across 500 pages with 1891 market data tables & 9 figures & charts from the report, “Food Enzymes Market” Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
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.
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.
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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