Yahoo Finance Food Enzymes Market Size [2022-2028] To Reach $3,257.57 Million at a CAGR of 5.32% | Vantage Market Research
WASHINGTON, Oct. 06, 2022 (GLOBE NEWSWIRE) -- A Comparative research study carry out by Vantage Market Research is database of 142 pages, titled as “Food Enzymes Market” with graphs & figures spread through pages, 122+ market data Tables, Pie Charts, and simple to understand comprehensive analysis. Food Enzymes Market research report is delivered with commitment depending upon the reader needs. With the defined historic year and the base year, assessments and calculations are performed in this market report. Market size and share analysis and key trend analysis are the prime accomplishing factors in this market research report. Such report helps to recognize how the market is going to perform over the forecast period by giving information about market definition, applications, segmentation and engagements. VMR team provides Food Enzymes industry document with loyalty and devotion that is promising and the way in which expected.
Vantage Market Research analyses that the Food Enzymes Market revenue was valued at USD 2,283.50 Million in 2021, would soar up to USD 3,257.57 Million by 2028, is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.10% during the forecast period 2022 to 2028.
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Synopsis:
Food Enzymes Market improves the quality and shelf life of food products. Food Enzymes Market are widely used in commercial products such as beverage, dairy, and bakery and pastry. These products in emerging economies have also been a major source of Food Enzymes Market, which will be a major factor in the growth of the global Food Enzymes Market during the forecast period. Nonetheless, strict guidelines for validation of safety and quality of these products are restraining growth in the global Food Enzymes Market. Because of the need for food security and safety, the demand for packaged and processed foods is growing; however, due to the complexity of the global food supply chain, food additives are required to preserve nutritional values and extend shelf life. The Food Enzymes Market is driven by an environmentally friendly production process, waste reduction, and energy savings in the food industry, as well as the rising popularity of organized retail in urban and rural areas around the world.
List of Prominent Players in the Food Enzymes Market
DuPont (US)
Associated British Foods plc (UK)
DSM (Netherlands)
Novozymes (US)
CHR. Hansen (Denmark)
Kerry Group (Ireland)
Jiangsu Boli Bioproducts Co.
Ltd. (China)
Biocatalysts Ltd. (UK)
Puratos Group (Belgium)
Advanced Enzyme Technologies Ltd (India)
Amano Enzyme Inc. (Japan)
Enzyme Development Corporation (US)
ENMEX
S.A. de C.V. (Mexico)
Enzyme Bioscience Private Limited
Creative Enzymes (US)
SUNSON Industry Group Co.
Ltd (China)
AUM Enzymes (India)
Xike Biotechnology Co. Ltd. (China)
Antozyme Biotech Pvt Ltd (India)
Key Industry Findings & Insights from the report:
The Global Food Enzymes Market was valued USD 2,283.50 Million in 2021 and is all set to surpass USD 3,257.57 Million by 2028, exhibiting a CAGR of 6.10% during the forecast period 2022-2028.
In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
Asia Pacific captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Food Enzymes industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
Market Dynamics:
Drivers:
Rising awareness regarding health benefits of food additives is expected to fuel market growth, wherein consumers are opting for better food safety. Consumers are opting for natural and organic foods, which in turn is expected to fuel the market growth of the food enzyme industry. The increasing demand for food additives is projected to contribute towards the expected growth of the market.
The increasing government support will influence the adoption of the technology, thereby, supporting the growth of the food enzyme market. The market is expected to witness growth due to the increasing use of food enzyme in various beverages, such as wine, vinegar, and beer production. Increasing regulations regarding food production, quality, and safety will help to drive the market.
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Challenges:
The reaction rate of Food Enzymes Market drops drastically when temperature is reduced, while thermal agitation denatures the food enzyme (disintegrates the food enzyme structure), rendering it unusable. Food enzyme manufacturers are making effort to develop enzymes that can be used across a wide temperature and pH range, but there is a long way to go if enzyme use must be universally implemented in all food & beverage manufacturing processes.
Regional Trends:
North America is the world's largest market for enzymes used in the food industry. The rise in food demand has led to a higher demand for food processing products in this region. The expected growth of the global food enzyme market during the forecast period is driven by the growing demand for food ingredients in developing countries, while Asia is also a major player in terms of raw materials and regulatory standards. During the forecast period, the Asia Pacific region is expected to grow at high CAGR. Japan is the largest market in the Asia Pacific region. The Asia-Pacific region has a rich tradition of food processing, particularly in China, India, and Thailand. The demand for fermented food and drinks in this region has created a large customer base for food processing and baking applications. These same countries also enjoy favorable food ingredient tariffs in comparison with other regions, which has created favorable conditions for the expansion of the food enzyme market in the Asia-Pacific region. India offers one of the key growth opportunities with its low import duties and abundant supply of raw materials.
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Recent Developments:
In April 2021, Biocatalysts Ltd. announced the product launch of a new dairy enzyme Promod™ 517MDP (P517MDP) expand its Kosher and Halal certified dairy protein enzymes.
In March 2021, Amano Enzyme Inc. launched a non-GMO enzyme known as Umamizyme Pulse, designed for usage in various plant protein products. The enzyme helps in improving the umami flavor in plant-based proteins.
In January 2021, DuPont Nutrition & Biosciences launched Nova GARD NR 100-G, a part of the DuPont Danisco range of antimicrobials, preserves meat products safe and high in quality throughout shelf life in the Middle East and Africa.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Food Enzymes Market Size, Share & Trends Analysis Report by Type (Carbohydrase, Amylase, Cellulase, Lactase), by Source (Microorganism, Plant, Animal), by Application (Food, Beverages), by Form (Lyophilized powder, Liquid, Other formulations), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
The report on the Food Enzymes Market highlights:
Assessment of the market
Premium Insights
Competitive Landscape
COVID Impact Analysis
Historic Data, Estimates, and Forecast
Company Profiles
Global and Regional Dynamics
Key Questions Answered in The Report:
Which region will show the fastest and highest growth in the near future?
Which are the top five players and their weakness and strength of the Market?
What will be the future innovation in the upcoming six years?
Which application and product will lead the largest share of the Market?
What are the growth drivers, restraints and challenges of the industry?
What will be the CAGR and size of the Food Enzymes Market for the base year and forecast period?
This market titled “Food Enzymes Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below:
Parameter | Details |
Market Size in 2021 | USD 2,283.50 Million |
Projected Market Size in 2028 | USD 3,257.57 Million |
CAGR Growth Rate | CAGR of 6.10% From 2022 – 2028 |
Market Size Provided for Years | 2016-2028 |
Base Year | 2021 |
Historic Years | 2016-2020 |
Forecast Years | 2022-2028 |
Segments Covered |
|
Region & Counties Covered |
|
Companies Covered |
|
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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