Meticulous Research®—leading global market research company, published a research report titled, ‘Food Enzymes Market by Type (Carbohydrases [Amylases, Cellulases], Proteases, Lipases), Form (Solid, Liquid), Source (Microorganisms, Plants, Animals), Application (Bakery, Dairy, Beverages, Grain & Oilseed Processing) - Global Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the food enzymes market is projected to reach $3.66 billion by 2030, at a CAGR of 7.3% from 2023 to 2030. The growth of the food enzymes market is mainly driven by the growing demand for fermented food & beverage products, nutraceuticals, and fortified food, coupled with technological innovations in the enzymatic food processing industry. However, stringent regulations and restrictive temperatures and pH levels of enzymes are expected to restrain the growth of this market.
The food enzymes market is segmented by type (carbohydrases [amylases, cellulases, and other carbohydrases], proteases, lipases, and other food enzymes), form (liquid and solid), source (microorganisms [fungi, bacteria, and yeast], animals, and plants), application (bakery, dairy, beverages [non-alcoholic beverages, brewing and alcohol production], fruit and vegetable processing, starch processing, meat, fish and egg processing, grain & oilseed processing, and other food applications), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the proteases segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the multiple and growing applications of proteases in the food industry. Proteases are eco-friendly, non-toxic, and non-pathogenic. These attributes contribute to the growth of this segment.
Based on form, the solid segment is slated to register the higher CAGR during the forecast period. The rising demand for solid enzymes is attributed to their benefits, such as ease of handling, high gravity fermentation & stability, easy transportation & storage, and longer shelf life.
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Based on source, in 2023, the microorganisms segment is expected to account for the largest share of the food enzymes market. The segment’s large share is attributed to the high stability, cost-effectiveness, lower time & space requirements, and high consistency of microorganism-derived food enzymes and their increasing utilization in the manufacture of food & beverage products, pharmaceuticals, animal feed, glucose syrups, crystalline glucose, high-fructose corn syrups, and maltose syrups.
Based on application, in 2023, the bakery segment is expected to account for the largest share of the food enzymes market. The segment’s large share is attributed to the high utilization of food enzymes in the manufacture of bakery products, the rising consumption of bakery products, growing urbanization, and innovations in the bakery industry.
Based on geography, in 2023, North America is expected to account for the largest share of the food enzymes market, mainly due to technological advancements, the increasing diversity of enzyme applications, the high availability of novel and innovative products, rapid industrialization, the rising demand for alcoholic beverages and processed foods, and growing awareness regarding green technologies in the region.
Key Players
The food enzymes market is characterized by moderate competition due to the presence of many large and small-sized global, regional, and local players. The key players operating in the food enzymes market are Novozymes A/S (Denmark), International Flavors & Fragrances Inc. (IFF) (U.S.), Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), AB Enzymes GmbH (Germany), Amano Enzyme Inc. (Japan), Chr. Hansen Holding A/S (Denmark), Kemin Industries, Inc. (U.S.), Advanced Enzyme Technologies Limited (India), AEB Africa (Pty) Ltd (South Africa), Biocatalysts Limited (U.K.), Enzyme Development Corporation (U.S.), Qingdao Vland Biotech INC. (China),
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Key Questions Answered in the Report-
• What is the current value of revenue generated by the global food enzymes market?
• At what rate is the global demand for food enzymes projected to grow for the next 5–7 years?
• What are the historical market sizes and growth rates of the global food enzymes market?
• What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
• Which segments in terms of type, form, source, and application are expected to provide major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the food enzymes market?
• Who are the major players in the global food enzymes market? What are their specific product offerings in this market?
• What are the recent strategic developments in the global food enzymes market? What are the impacts of these strategic developments on the market?
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