Bakery Enzymes Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product Type (Carbohydrases, Proteases, Lipases), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061615247
- Pages : 138
Bakery enzymes are biocatalysts that break down the gluten proteins and mucilage while also converting the starch in the wheat into sugars that yeast can consume. They are added to the dough of various baked goods such as pastries, cakes etc to improve their taste, texture, smoothness, gas retention and crumbliness. Bakery enzymes are important ingredients in baked goods. A few examples of popular commercial bakery enzymes include fungal alpha Amylase, Hydrolase, Glucose Oxidase, Proteases, Xylanase, Maltogenic Amylase, Hemicellulases, Lipase, Catalase etc.
The use of enzymes in bakery products has grown tremendously in recent years. The highly specialised characteristics of enzymes in biological processes are one of the key factors driving the growth of the market. Due to limits on the use of chemical additives, notably in the production of bread and other fermented goods, enzymes have recently taken an even larger relevance in baking. Food safety is one of the numerous additional advantages of this natural ingredient. As a result, it is projected that the market for bakery enzymes would expand in tandem with the rising demand for organic food additives. Rising disposable income and shifting consumer preferences are also significant drivers of development in the bakery enzymes market. The general millennial population prefers processed meals as a result of lifestyle choices.
However, the implementation of strict rules and regulations by the government, and the high expenses associated with R&D activities coupled with the volatile & high cost are obstructing the growth of the global market for bakery enzymes during the analysis period.
The global market for bakery enzymes is categorized into various segments which include – the type of product, and geographical region.
During the anticipation period, the growing demand for baked goods will support the growth of the global bakery enzymes market.
Bakery enzymes are a crucial ingredient in baked goods. They are added to the dough to improve the taste, texture, shelf life, and smoothness of the product. It also improves the quality of the flour and helps in its proper baking. Bakery enzymes are used to manufacture a variety of products such as cakes, bread, muffins, pastries, biscuits, doughnuts, pies, cupcakes etc. Therefore, one of the primary factors driving the growth of the global market is the growing demand for bakery products by consumers. According to data from the Government of Canada, retail sales of baked products increased at a compound annual growth rate of 4.6 per cent from 2017 to 2021, reaching a total value of US$407.2 billion globally. Canada sold US$6.6 billion worth of bakery products in 2021 or 1.6 per cent of all global sales. From 2017 to 2021, retail sales of baked products in Canada expanded at a CAGR of 3.3 per cent, and from 2022 to 2026, they are predicted to grow at a CAGR of 3.5 per cent, reaching US$7.8 billion.
As a result of the high demand for baked goods, various companies are launching new products to capitalise on this trend which is positively impacting the market prospects. For instance, in March 2023, American supermarket chain Sprouts Farmers Market announced that they were rolling out ten new bakery products in their stores. Moreover, in March 2023, Milk Bar, the legendary dessert brand founded by award-winning chef Christina Tosi, announced the launch of two new cookie varieties: bite-sized crunchy cookies and ready-to-bake cookie dough in grocery stores all over the United States.
The rising quantity and diversity of food applications, changing consumer tastes, and consumer inclination towards improved food quality are driving up demand for a wide range of food ingredients. Therefore, rising demand for such food ingredients will propel market growth as they add bakery enzymes because they improve the texture, extends shelf life and improves the gas retention properties of the dough making the product fluffy and delicious.
Asia Pacific is anticipated to hold a significant bakery enzyme market share during the forecast period.
Asia Pacific region is anticipated to hold a significant market share in bakery enzymes. This region will witness high growth during the forecast period owing to the growing demand for Western-style diets, increased urbanisation, and rising disposable income. Bakery enzymes are in increasing demand in emerging economies like China and India. The market is expanding in this region due to factors such as changing eating patterns, traditional snacking behaviours, and rising consumption of processed baked food items. An increase in the participation of women in the workforce along with the flourishing HoReCa & food service industry are all contributing to the market's expansion. Also, the rise of new companies with fresh and cutting-edge products along with the existence of key market players in Asia Pacific countries is fueling demand. Furthermore, it is anticipated, demand for organic and natural food additives would fuel regional market expansion. Prime markets in the Asia Pacific region are India, China, Japan, South Korea, Thailand, Taiwan and Indonesia.
Market Key Developments
- In September 2022, BASF agreed to sell the BASF Nutrilife® baking enzymes portfolio and business to Lallemand Inc's affiliate, Danstar Ferment AG. Nutrilife® enables food suppliers to manufacture economical, healthful, and appealing food items while also contributing to resource efficiency.
- In February 2020, DuPont Nutrition & Biosciences announced the launch of the DuPontTM POWERBake® 6000 and 7000 enzyme family, designed specifically for European bakery recipes. The enzymes provide improver houses and bakeries with a one-of-a-kind emulsification solution that protects the taste and quality of white bread and buns while addressing customer requests for cleaner labelling.
- In March 2021, IFF is introducing a new line of baking enzymes for the Chinese market. The initiative comes amid a surge in demand for sweet-baked items in China, and it is billed as increasing production and lowering product returns. Improver houses and bakeries in China are attempting to improve the dining experiences of their customers. To fulfil this demand, IFF's recent launch extends the company's current line of freshness solutions in Asia-Pacific.
- By Product Type
- By Geography
- North America
- United States
- South America
- United Kingdom
- The Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL BAKERY ENZYMES MARKET, BY PRODUCT TYPE
6. GLOBAL BAKERY ENZYMES MARKET, BY GEOGRAPHY
6.2. North America
6.2.1. United States
6.3. South America
6.4.1. United Kingdom
6.5. The Middle East and Africa
6.5.1. Saudi Arabia
6.6. Asia Pacific
6.6.4. South Korea
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. COMPANY PROFILES
8.1. DSM N.V.
8.3. AB Enzymes
8.4. Aum Enzymes
8.5. International Flavors and Fragrances
8.6. Amano Enzyme Inc
8.7. Maps Enzymes Ltd.
8.8. Lallemand Inc
8.9. SternEnzym GmbH & Co. KG
International Flavors and Fragrances
Amano Enzyme Inc
Maps Enzymes Ltd.
SternEnzym GmbH & Co. KG
|Report Name||Published Month||Get Sample PDF|
|Food Enzymes Market Size & Share: Industry Report, 2022-2027||Mar 2022|
|Brewing Enzymes Market Size & Share: Report, 2023-2028||Mar 2023|
|Digestive Enzymes Market Size & Share: Industry Report, 2019-2024||May 2021|
|Bakery Premix Market Size & Share: Industry Report, 2022–2027||Sep 2022|
|Edible Fungi Market Size & Share: Industry Reports, 2021-2026||Jun 2021|