Press release
World Papain Industry Analysis, Future Growth, Business Prospects and Forecast to 2023
Papain is a naturally extracted cysteine proteolytic enzyme, mostly found in papaya. It is also known as papaya proteinase. Papain is widely used in meat industry to tenderize the meat fibers. It is mostly found in powdered form which is biologically active in nature. It is also used in food & beverage, textile & leather industry.
Naturally derived proteolytic enzymes such as papain have shown an increase in the market as compared to the chemically synthesized enzymes because of the health benefits associated with them. Increasing population & urbanization has opened the market for production of natural enzyme such as papain.
Furthermore, the market is projected to propel with a high CAGR during the forecast period based on its diverse and potential application in food industry.
Increasing consumer needs for soft textured meat products for use is anticipated to escalate the market demand for papain on a global level. Papain in powdered or liquids forms are extensively used in the meat industry. Increasing health awareness among consumers have a positive impact on natural proteolytic enzyme such as papain. These proteolytic enzymes are widely used in meat industry to tenderize or soften the meat fibres.
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Competitive Analysis
• Senthil Papain and Food Products Pvt Ltd (India)
• Fruzyme Bio Tech India Pvt Ltd (India)
• Shri Ganesh Industrial Enzymes (India)
• Aumgene Biosciences (India)
• Enzybel International (Belgium)
• Mitsubishi Kagaku Media (Japan)
• Ultra Bio-Logics Inc (Canada)
Advancement in the production process, extraction techniques to obtain more purified form which makes papain to be used in different forms and industry for increasing the shelf life of food products has ballooned the market demand for natural proteolytic enzyme papain. Population shift towards plant based naturally extracted enzymes will bring a dramatic change in the consumption pattern among the consumers. In North America, the U.S. and Canada dominates papain market and exports the product to various other countries, which include Denmark, Germany & others.
Downstream Analysis
On the basis of form, powdered papain dominates the market because of its low processing cost and wide product range applicability in food and pharmaceutical industry. However, focus on pure and consistent natural enzymes is projected to rise during the given forecast period. Furthermore, based on the application, meat industry dominates the market due to high demand of meat products, reasonable cost and wide range applicability. However, focus on pharmaceutical industry is projected to rise during the given forecast period.
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Regional Analysis
Global Papain Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America holds the major share of the global market followed by Europe. Increase in health conscious population and urbanization are driving the growth of this region. The U.S., Denmark, Japan, France & Germany are the major importers of papain.
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