Food Enzymes Market Rising Investments and Innovation to Foster Market Growth

Global Food Enzymes Market Overview:

The Global Food Enzymes Market, valued at approximately USD 2.2 billion in 2021, is poised to witness a healthy growth rate of more than 6.4% over the forecast period from 2022 to 2029. Food enzymes, derived from microbial sources, play a crucial role in enhancing the range, diversity, and quality of food processing. These enzymes, acting as catalysts, offer various benefits such as flavor enhancement, coagulation, preservation, and texture improvement.

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Key Market Drivers:

1. Increased Preference for Processed Food: Growing consumer preference for tasty and processed food, coupled with higher disposable income, drives the demand for food enzymes.
2. End-Use Industry Demand: The dairy, confectionery, and bakery industries are increasingly adopting food enzymes due to properties like improved shelf life and dough stability.
3. Global Confectionery Production: The rising demand for confectionery products globally, with an estimated 129,916.9 million kilograms produced in 2022, is a significant market driver.

Market Challenges:

1. Operational Constraints: Limited temperature and pH operational range of food enzymes, coupled with a stringent regulatory framework, pose challenges for market growth.

Global Market Insights:

1. North America: Dominates the market in terms of revenue, driven by a growing trend towards naturally sourced ingredients and increased use of enzymes in various food systems.
2. Asia Pacific: Expected to witness the highest CAGR during the forecast period, driven by increased consumption of high-quality processed food and growing concerns for sustainability and food safety.

Major Market Players:

• DuPont de Nemours, Inc.
• Associated British Foods plc
• Koninklijke DSM N.V.
• Novozymes
• Chr. Hansen A/S
• Brenntag Asia Pacific Pte Ltd
• Kerry Group PLC
• Jiangsu Boli Bioproducts Co Ltd.
• Biocatalysts Ltd.
• Puratos Group

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Recent Developments:

• In June 2021, International Flavors & Fragrances, Inc. introduced Nurica, a dairy enzyme enhancing prebiotic fiber production.
• In April 2021, Biocatalysts Ltd. launched PromodTM 517MDP to strengthen its Kosher and Halal-certified dairy protein enzymes.

Market Report Scope:

• Historical Data: 2019-2020-2021
• Base Year for Estimation: 2021
• Forecast Period: 2022-2029
• Report Coverage: Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
• Segments Covered: Type, Formulation, Application, Source, Region
• Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Note: The report offers free customization (equivalent to up to 8 analyst’s working hours) with purchase, allowing addition or alteration to country, regional & segment scope.

Detailed Segments and Sub-Segment of the Market:

By Type:

• Carbohydrase
• Protease
• Lipases
• Others

By Formulation:

• Lyophilized Powder
• Liquid
• Others

By Application:

• Beverages
• Confectionery Products
• Dairy Products
• Bakery Products
• Meat Processing
• Others

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By Source:

• Microorganisms
• Plants
• Animals

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • ROE (Rest of Europe)
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • RoAPAC (Rest of Asia Pacific)
• Latin America
  • Brazil
  • Mexico
• Rest of the World

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