The protease market is expected to grow at a compound annual growth rate of 6.90% over the forecast period to reach a market size of US$3.077 billion in 2027, up from US$1.929 billion in 2020. The growing demand for convenience foods such as bakery products, juices, and snacks in developing countries is leading to an increased demand for protease in the food and beverage industry. Proteases perform precise reactions important for the production processes but have hardly any technical function in the downstream food products. For example, it can be used to tenderize meat. Private investments by companies in food enzymes are increasing and gaining more consumer attention than ever, which in turn is supporting the rapid growth of the international proteas market. Furthermore, the enhancement of the product with technological advancements is considered to be one of the significant reasons for the increasing growth of the proteas market. According to the different types, proteases are segmented into trypsin, renin, pepsin, bromelain, papain, alkaline protease, and others. Among all, the renin segment dominated the market. After renin, comes alkaline owing to its vast use in the food and beverage industry, meat products, and dairy. Proteases come in different forms such as powder, liquid, and others, whereas the powder form enjoys a greater market share due to its use in food products. Geographically, it is segmented into North America, Europe, Asia Pacific, etc. where North America dominates the market but the market, in the Asia Pacific is the fastest growing due to the emerging markets of China and India.
THE MARKET GROWTH IS DRIVEN BY INCREASING APPLICATIONS IN FOOD AND BEVERAGE. Several food enzymes such as carbohydrase, protease, lipase, and others have significantly made their way into an increasing number of food and beverage industries across the globe, thus accelerating the growth of the market. Alkaline proteases are used in the preparation of protein hydrolysates of high nutritional value with a well-defined peptide profile. It also plays an important role in meat tenderization, especially beef. Food enzymes, particularly protease, are catalyzed in seafood products for a variety of benefits such as improved oil separation and higher yield, saving energy; increased protein value; and digestibility with improved functional properties such as fat- and water-binding.
Key Developments in the Market
The COVID-19 outbreak has affected global proteases in several ways. For instance, it directly affected production and demand and disrupted the supply chain and market while also impacting the financial markets and financial strongholds of large companies. COVID-19 has had effects in many aspects, like flight cancellations, bans on travel, and quarantines, which lead to closed restaurants and no outdoor dining or events.
The global protease market share is fairly fragmented. Some of the major importers of protease enzymes include the U.S., Germany, and the Netherlands. The key industrial players include Chr. Hansen, DuPont, Associated British Food, Amano, Advanced Enzymes Technologies, Dyadic International, DSM, and Novozymes. This major participant possesses a significant growth in product development along with production expansion, which drives the growth in the industry.
The key players have intensely embarked on industry consolidation by leveraging their distribution network and entering into partnerships with local distributors, especially in emerging economies. Various companies make strategic acquisitions based on consumer preferences and geographical demands; thus, mergers and acquisitions play an important role in the protease industry's consolidation.
|Market size value in 2020||US$1.929 billion|
|Market size value in 2027||US$3.077 billion|
|Growth Rate||CAGR of 6.90% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Source, Form, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||E.I. Du Pont De Nemours and Company, Novozymes A/S, Advanced Enzyme Technologies, DSM, Associated British Food, Neova Technologies Inc, Thermo Fisher Scientific, Kemin Industries, Promega Corporation, Merck|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the protease market size by 2027?
A1. The protease market is expected to reach a market size of US$3.077 billion by 2027.
Q2. What is the size of the global protease market?
A2. Protease Market was valued at US$1.929 billion in 2020.
Q3. What are the growth prospects for the protease market?
A3. The protease market is expected to grow at a CAGR of 6.90% over the forecast period.
Q4. Which region holds the maximum market share of the protease market?
A4. North America dominates the protease market but the market in the Asia Pacific is the fastest growing due to the emerging markets of China and India.
Q5. What factors are anticipated to drive the protease market growth?
A5. The growing demand for convenience food such as bakery products, juices, and snacks in developing countries is leading to an increased demand for protease in the food and beverage industry.
E.I. Du Pont De Nemours and Company
Advanced Enzyme Technologies
Associated British Food
Neova Technologies Inc
Thermo Fisher Scientific
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