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Carbohydrases Market Size, Latest Trends, Growth Rate, Key Drivers And Forecast To 2033
Carbohydrases Market Size
As per the report, the carbohydrases market size hasgrown strongly in recent years. It will grow from $3.30 billion in 2023 to $3.60 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The carbohydrases market size is expected to see strong growth in the next few years. It will grow to $5.12 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
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Growth In Food And Beverage Industry Drives Carbohydrases Market Expansion
The expanding food and beverage industry is expected to propel the growth of the carbohydrases market going forward. The food and beverage industry encompasses businesses involved in producing, processing, distributing, and selling edible goods and drinks for consumption. The expansion of the food and beverage industry is due to growing consumer demand for diverse and convenient food options, driving innovation and investment in production, distribution, and marketing. The food and beverage industry utilizes carbohydrates as essential ingredients for texture, flavor, and energy in various products, including bread, pasta, beverages, and confectionery items. For instance, in October 2023, according to the Agriculture and Agri-Food Canada (AAFC), a department of the Government of Canada responsible for the federal regulation of agriculture, with sales of manufactured goods valued at $156.5 billion in 2022, the food and beverage processing sector was Canada's largest manufacturing sector in terms of production value. Further, in 2022, processed food and beverage exports reached a record $54.3 billion, a 14.1% rise from 2021. Therefore, expanding the food and beverage industry is driving the carbohydrases market.
Innovative Solutions In Carbohydrase Market Enhancing Digestion Efficiency And Nutritional Profiles
Major companies operating in the carbohydrases market are focused on developing innovative products, such as enzymatic digestibility enhancers, to improve the digestion and absorption of carbohydrates in animal feed. An enzymatic digestibility enhancer is a feed additive designed to enhance the digestion and absorption of carbohydrates in animal feed. These products are used in livestock nutrition to break down complex carbohydrates into more straightforward, more absorbable sugars, thereby enhancing feed utilization efficiency and supporting better animal growth and health. For instance, in September 2023, Huvepharma, a Bulgaria-based pharmaceutical company, launched Huvezym neXo, an enzymatic complex designed to enhance digestibility in monogastric species such as poultry and pigs. It is a combination of enzymes, including xylanase, cellulase, and xyloglucanase, which work together to break down complex fiber structures in the animal's diet, leading to improved animal performance and health. It typically contains a blend of carbohydrases and other enzymes that help break down complex carbohydrates in animal feed, enhancing nutrient absorption and improving overall animal health and growth performance.
The carbohydrases market covered in this report is segmented -
1) By Type: Amylases, Cellulases, Pectinases, Lactase, Other Types
2) By Source: Animal, Plant, Microbial, Other Sources
3) By Distribution Channel: Online, Offline
4) By End-Use: Dairy, Baking And Confectionery, Pharmaceuticals, Animal Feed, Other End-Users
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Major companies operating in the carbohydrases market are BASF SE, Merck KGaA, International Flavors & Fragrances Inc., Koninklijke DSM N.V., Kerry Group, Nagase & Co Ltd, Novozymes A/S, Kemin Industries Inc, Amano Enzyme, Advanced Enzyme Technologies, AB Enzymes, BIO-CAT Inc., Tex Biosciences, Enzyme Development Corporation, Aumgene Biosciences, Jinan Bestzyme Bio-Engineering, Lumis Biotech, Antozyme Biotech, Shandong Longda Bio-Products, Sunson Industry Group
Contents of the report:
1. Executive Summary
2. Carbohydrases Market Report Structure
3. Carbohydrases Market Trends And Strategies
4. Carbohydrases Market - Macro Economic Scenario
5. Carbohydrases Market Size And Growth
…..
27. Carbohydrases Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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