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Food Enzymes Market is expected to reach from USD 2.4 billion in 2021 to USD 3.9 billion in 2029, expanding at a CAGR of 6.2% | Global Report Share

11-11-2022 02:50 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Food Enzymes Market

Food Enzymes Market

Food Enzymes Market reached USD 2.4 billion in 2021 and is forecast to reach USD 3.9 billion in 2029, and the market is exhibiting a CAGR of 6.2% from 2022-2029.

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/food-enzymes-market/

The factors driving the growth of Food Enzymes Market includes strict regulations regarding the use of chemical additives in bakery products, growing consumers preference for clean labelled food products, increasing application of Carbohydrase enzymes in the brewing industry and improvements in the living standards. According to the report published by Statista, the market size of clean labeled ingredients in the Latin American region was calculated around USD 1 billion in 2018 and is expected to reach USD 1.3 billion by the end of 2023, which will accelerate the Food Enzymes Market share in the approaching years. In addition, growing adoption of advanced technologies by manufacturers to enhance the production of enzymes, rising demand for safe and nutritious food products, and increasing use of enzymes for preparing cheese, cooking win and leavened bread, are some of the additional factors supplementing the Global Food Enzymes Market. In addition, the increasing investments by leading players on research and development, rise in the launch of innovative products and rapid urbanization, are further contributing towards the market growth.

However, growth of the Food Enzymes Market is hindered due to low stability of enzymes in organic solvents.

The leading players operating in the market are Bioseutica, Biocatalysts, Puratos Group, DowDuPont, Amway, Novozymes, Advanced Enzyme Tech, Kerry Group, Amano Enzyme and Aum Enzymes, among other.

Based on Type, the Carbohydrase segment is predicted to grow at a robust CAGR during the forecast period

Increasing application of carbohydrase in bakery & confectionery and processed food products owing to its cost-effectiveness and it requires less space and time, are some of the factors propelling segment's growth.

Based on Application, the Dairy & Frozen Products segment is projected to capture the largest market share over the forecast period

Growing demand for cheese, ice cream processing & other dairy products across the globe, are pushing growth of the segment.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

As per the Food Enzymes Market Trends, rising awareness about the benefits of natural food enzymes, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Development

In April 2021, Amano Enzymes developed a new plant-based enzyme called Umamizyme Pulse for use by manufacturers looking to amplify the savoury and umami flavour profiles of plant-based protein applications.

Market Segmentation

Segmentation by Type

Carbohydrase
Protease
Lipase
Others

Segmentation by Application

Bakery
Confectionery
Dairy & Frozen Products
Meat, Poultry & Sea Food Products
Beverages
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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