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Food Enzymes Market To See Strong Growth of $3,056.9 million by 2026

03-12-2020 06:08 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Food Enzymes Market

Food Enzymes Market

The food enzymes market size was valued at $1,944.8 million in 2018 and is expected to reach $3,056.9 million by 2026, registering a CAGR of 5.6% from 2019 to 2026.

Food enzymes are complex ingredients, which act as catalyzers and are extensively used for increasing the diversity, variety, and quality during processing of food. Food enzymes are often used for food processing owing to its multiple benefits, which include enhancement of texture, flavor & fragrance, preservation, coagulation, and tenderization. Food enzymes are generally produced through fermentation process. Both fed-batch and continuous fermentation processes are commonly used for the commercial production of food enzymes across the world; however, food enzymes are also sourced from animals and plants.

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Developments in protein and genetic engineering have resulted in the improvement of economy, specificity, stability, and overall application potential of food enzymes. Food enzymes find application on plethora of platforms such as starch modification, sweetener production, sugar processing, baking, flour supplementation, dough conditioning, cheesemaking, brewing, flavor enhancement, meat tenderizing, and juice processing.

The application of enzymes in food processing is governed by various national and international agencies across the world. For general purposes, the Food Chemicals Codex (FCC) and FAO/WHO Joint Expert Committee on Food Additives (JECFA) have framed guidelines for the usage of enzymes as food additives. AMFEP of Europe and Enzyme Technical Association (ETA) of the U.S. region also provide regulatory guidelines for the safe usage of food enzymes in the food & beverage industry

It is pertinent to note that millennials are now more concerned about food transparency than any earlier generation. They demand food products with little or no artificial ingredients and synthetic chemicals. They also demand food products that undergo less processing. As a result, leading manufacturers focus on introducing clean label products that cater to such growing demands from millennials.

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The food enzymes market analysis is based on type, application, source, and region. Based on type, the market is divided into carbohydrase, lipase, protease, and others. Based on application, the market is analyzed across bakery products, beverages, dairy products, and others. Based on source, it is classified into microorganisms, animals, and plants. Based on region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The global food enzymes market is expected to remain influenced by growing demand for processed food across the world. Growth in trend of immobilized enzyme technology have further augmented market growth. Furthermore, introduction of clean label food enzymes, owing to increase in concern of millennials toward food transparency have been striking a chord for the leading market players of the food enzymes market

Key Findings of the Food Enzymes Market:
The carbohydrase segment was the highest contributor to the global food enzymes market in 2018 and is projected to grow at a moderate CAGR during the forecast period.
There is an increase in demand for food enzymes from bakery segment. As a result, the bakery segment is poised to grow with lucrative CAGR of 7.2% during the forecast period.
Clean labels, immobilized enzyme technology, and sustainability are the some of the emerging food enzymes market trends around the world.
Microorganisms segment accounted for about three-fourths of the food enzymes market share for 2019 and is projected to grow with highest the CAGR during the forecast period.
Dairy product segment is projected to exhibit rapid growth in the market, in the estimated forecast.
In terms of food enzymes market growth, the Asia-Pacific region is poised to grow with highest CAGR during the forecast period followed by LAMEA.

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The key players studied across food enzymes industry includes Associated British Foods Plc. (ABF), Advanced Enzyme Technologies, Amano Enzyme Co., Ltd., BASF, Chr. Hansen Holding A/S, DowDuPont, Kerry Group PLC, Novozymes, Royal DSM N.V., and Aum Enzymes.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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