Press release
Dairy Enzymes Market Expand At The Fastest CAGR Of 7% During Forecast Period 2022 to 2031 : FactMR
A recently published report by Fact.MR reveals that the global dairy enzymes market is projected to grow at a CAGR of 8% during the forecast period 2021-2031, surpassing nearly US$ 1.5 Bn in value terms. The market continues to be influenced by ever-evolving consumer preferences and tectonic shifts in the prevailing status quo.According to Fact.MR’s report, the industry experienced strong growth across the 2016-2020 historical period, clocking a CAGR worth 7% and surpassed US$ 650 Mn. As of 2021, it is expected to be valued at nearly 700 Mn. Prospects have further widened during the pandemic crisis, as demand for ready-to-eat dairy products experienced a tremendous incline throughout 2020.
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Key Segments Covered
• Product Type
o Carbohydrate Dairy Enzymes
o Protease Dairy Enzymes
o Polymerase & Nuclease Dairy Enzymes
o Lipase Dairy Enzymes
o Phytase Dairy Enzymes
o Other Dairy Enzymes
• Source
o Plant-based Dairy Enzymes
o Animals & Micro-organisms-based Dairy Enzymes
• Application
o Dairy Enzymes for Milk
o Dairy Enzymes for Cheese
o Dairy Enzymes for Ice Creams & Desserts
o Dairy Enzymes for Yogurt
o Dairy Enzymes for Whey
o Dairy Enzymes for Infant formula
o Dairy Enzymes for Other Applications
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Key Takeaways from the Market Study
Animals & micro-organisms sourced dairy enzymes to account for 45% of the market
Cheese production emerged as main application area in 2020, generating US$ 150 Mn in sales, growing at 7% CAGR by 2031
North America to contribute significantly, surging at a value CAGR worth 7%
Prospects appear equally bright across Europe, growing at nearly 7% CAGR through 2031
Asia to emerge as the fastest growing market, clocking an expansion rate worth 8% from 2021-2031
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More Insights Available
In its latest report, Fact.MR offers an unbiased analysis of the dairy enzymes market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
Market statistics have been presented on the basis of product type (carbohydrates, proteases, polymerases & nucleases, lipases, phytases and other enzymes), source (plants and animals & micro-organisms) and application (milk, cheese, ice-creams & desserts, yogurts, whey infant formula and others) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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