Food Enzymes Market to reach $4,124.70 million by 2031, growing at a CAGR of 6.2%

The food enzymes market was valued at $1,906.70 million in 2020, and is estimated to reach $4,124.70 million by 2031, growing at a CAGR of 6.2% from 2022 to 2031.

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.

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The number of food and beverage processors in the globe has increased at an exponential rate. The rise of the connected food and beverage industry has been equally spectacular. The shifting landscape, together with forthcoming trends and the world's growing appetite for food enzymes, propels the food and beverage industry forward, which includes cheese manufacturing industries and meat product industries . This rate of food enzymes market growth is projected to continue for the foreseeable future, with consumer and food service businesses driving the majority of it. 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 globally; however, food enzymes are also sourced from animals and plants.

In the last few years, the global market for food enzymes has seen an increase in innovation. The introduction of technology, such as cold-adapted enzymes has transformed the market's growth. Food enzymes that operate at very low temperatures, as well as enzymes, have been developed as a result of novel enzyme discovery. These cold-adapted enzymes have the distinct property of becoming inactive after completing their task at low temperatures. Cold-adapt has a wide range of applications. Cheese manufacturing, juice processing, and the meat and meat products business all use cold-adapted enzymes. 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.

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The application of enzymes in food processing is governed by various national and international agencies across the globe. 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.

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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