The global food enzymes market is expected to grow at a CAGR of 5.89% during the forecast period of 2017-2023. Food enzymes are the chemical catalysts that initiate metabolic reaction within food materials to uplift their quality. The enzymes help in simplifying the food processing steps, thus, uplifting the quality of food products. Food enzymes such as protease and lipase are added during food processing to enhance the flavours, texture and organoleptic properties of the food and beverages. Rise in the demand for processed food is expected to drive the food enzymes market during the forecast period. Furthermore, shifting trends towards healthy food coupled with the rising focus on the quality is also boosting the market for food enzymes. Technological innovation along with environment friendly manufacturing processes will further bolster the market during the given time frame. Emerging applications of the food enzymes such as protein fortification is expected to further augment the growth of the market. However, restricted temperature and pH operational range might restrain the market growth during the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global food enzymes value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global food enzymes market.
Major industry players profiled as part of the report are Kerry Inc., Megazyme and Novozymes among others.
Middle East and Africa