Global Food Enzymes Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Amylase, Protease, Lipase), By Source (Microorganisms, Plants, Animals), By Applications (Beverages, Processed Food, Dairy Products, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Mar 2022
- Report Code : KSI061611591
- Pages : 132
The global food enzymes market is projected to grow at a CAGR of 7.41% to reach US$3.438 billion by 2027, from US$2.085 billion in 2020. Food enzymes are enzymes that are suitable for human consumption and are utilized by the food industry throughout food manufacturing to assist in enhancing food safety and quality, as well as process efficiency. They are widely used in the manufacture, processing, preparation, and treatment of a wide range of food products. Baking, fruit juice, cheese production, and brewing are among the industries that use enzymes.
The rise in demand for processed foods is likely to boost the food enzyme industry. Furthermore, technological developments such as enzyme engineering and the introduction of genetically modified enzymes have helped the expansion of the food industry.
Food enzymes are crucial in all aspects of food processing, from protein to starch. Furthermore, they are utilized to enhance raw material processing for dairy and alcohol fermentation. Baking is another notable sector in which enzymes play an essential role. Thus, factors such as the multifunctional advantages of food enzymes in a variety of applications and technological advances to minimize chemical usage all contribute to the market’s growth. However, a limited temperature and pH operational range may limit market expansion.
North America holds the dominant share of the food enzyme market. During the projected period, however, Asia-Pacific is expected to earn a considerable market share in the global food enzyme market. The immobilized enzyme technology for food applications has gained significant popularity in recent years. Immobilized enzyme technology improves food enzyme properties such as slow reaction rate, short shelf life, and operational stability.
A rise in the demand of processed foods Global demand for processed foods is increasing, owing primarily to expanding economies in Asia. China and India are primarily responsible for the significant expansion of the processed food sector. The Indian food and grocery market is the world's sixth-largest, according to the Indian Brand Equity Foundation, and its production is anticipated to reach US$535 billion by 2025-26. The Indian food processing sector accounts for 32% of the total food market, is a major industry, and ranks fifth in terms of output, consumption, exports, and anticipated growth. Foreign direct investment in the Indian food sector totaled $4.18 billion between April 2014 and March 2020. Indian annual household consumption is predicted to triple by 2030, making the country the world's fifth-largest consumer. Furthermore, according to food exports, China is the fifth-largest market for US processed food exports, totaling about US$1.7 billion in 2020, a 12 % rise over the previous year. The middle-class population is growing, and rising disposable incomes, along with a hectic schedule, contribute to the market expansion. Food enzyme applications increase the freshness of end goods, extending the shelf life of convenience foods while retaining flavor, color, and texture.
- Temperature and pH operational range restrictions
The activity of food enzymes is heavily affected by environmental factors. A reduction in temperature dramatically reduces the reaction rate, whereas thermal agitation degrades the food enzyme structure, rendering it non-functional. Varying the pH outside of the food enzyme's operating range decreases enzyme activity and can eventually lead to irreversible denaturation.
COVID-19's Impact on the Food Enzyme Market:
The COVID-19 pandemic put unforeseen strains on food systems, posing a slew of critical challenges. COVID-19 is expected to have a considerable influence on the food enzyme market since the current pandemic has highlighted the need for safe, healthy, and nutritious eating. The pandemic had put enormous strains on food supply systems, causing bottlenecks in farm labor, processing, transportation, and logistics, as well as significant swings in demand. The majority of these interruptions are the consequence of regulations put in place to slow the spread of the virus. In the face of these challenges, food supply systems have shown extraordinary resilience. While ingredient sales are distributed across nations, prominent players in the food enzyme industry have begun to develop regional production. R&D and sales departments are also improving supply chains for raw material distribution.
- June 2021 - International Flavors & Fragrances Inc. (IFF) introduced Nurica, a new enzyme for dairy products.
- December 2020 - Biocatalysts Ltd, a provider of enzymes to the food, flavour and fragrance, life science, chemical, and pharmaceutical sectors, introduced a new enzyme for use in pet food, Promod 971MDP (P971MDP).
- May 2019 - DowDuPont Specialty Products Division merged the Nutrition & Health and Industrial Biosciences divisions to form Nutrition & Biosciences, a $6.2 billion business division to benefit from the joint expertise and skills in food enzymes, human and animal microbiome science, bioprocess engineering, and R & D.
Global Food Enzymes Market Scope:
|Market size value in 2020||US$2.085 billion|
|Market size value in 2027||US$3.438 billion|
|Growth Rate||CAGR of 7.41% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Source, Applications, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Amway, AB Enzymes, Advanced Enzyme Technologies, DSM, Novozymes, Megazyme, Biocatalysts, Dupont, Amano Enzyme Inc., Kerry Inc.|
|Customization scope||Free report customization with purchase|
- By Type
- By Source
- By Application
- Processed Food
- Dairy Products
- By Geography
- North America
- United States
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- North America
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the food enzymes market?
A1. The food enzymes market is projected to grow at a CAGR of 7.41% during the forecast period.
Q2. What is the size of the global food enzymes market?
A2. Food Enzymes Market was valued at US$2.085 billion in 2020.
Q3. What will be the food enzymes market size by 2027?
A3. The global food enzymes market is projected to reach a total market size of US$3.438 billion by 2027.
Q4. Which region holds the largest market share in the food enzymes market?
A4. Geographically, North America and the Asia Pacific region are expected to show prominent growth during the forecast period owing to the increasing demand for food enzymes in the food and beverage industry.
Q5. What factors are anticipated to drive the food enzymes market growth?
A5. One of the major reasons for the food enzymes market growth is the increasing demand for processed food around the globe owing to the growing economies.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
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. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The 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 Food Enzymes Market Analysis, By Type
6. Global Food Enzymes Market Analysis, By Source
7. Global Food Enzymes Market Analysis, By Application
7.3. Processed Food
7.4. Dairy Products
8. Global Food Enzymes Market Analysis, By Geography
8.2. North America
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.2. AB Enzymes
10.3. Advanced Enzyme Technologies
10.9. Amano Enzyme Inc.
10.10. Kerry Inc.
Advanced Enzyme Technologies
Amano Enzyme Inc.
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