Press release
Food Enzymes Market 2019-2024; Growth Forecast & Industry Share Report
Food Enzymes Market
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.
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Key players in this industry:
• Royal DSM
• Danisco
• BASF
• Lumis
• Aumgene Biosciences
• Enmex
• Advanced Enzymes
• AB Group
• Chr. Hansen
• Enzyme Innovation
• Thermo Fisher Scientific
• Hayashibara Co.
• Enzymes Solutions
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.
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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.
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.
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.
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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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