Food Enzymes Market Outlook: Projected Growth to $3.66 Billion by 2030


Posted August 20, 2024 by Harshal

According to the 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.
 
According to a recent report by Meticulous Research®, the global food enzymes market is projected to reach $3.66 billion by 2030, growing at a CAGR of 7.3% from 2023 to 2030. The market's growth is primarily fueled by increasing demand for fermented food and beverage products, nutraceuticals, and fortified foods, alongside significant technological advancements in enzymatic food processing. However, market expansion may be restrained by stringent regulations and the sensitivity of enzymes to specific temperature and pH conditions.

Market Segmentation
The food enzymes market is segmented based on type, form, source, application, and geography:
• Type: The market is categorized into carbohydrases (including amylases, cellulases, and others), proteases, lipases, and other food enzymes. The proteases segment is expected to witness the highest growth rate during the forecast period, driven by their eco-friendly, non-toxic, and non-pathogenic nature, which enhances their applicability in the food industry.

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• Form: Enzymes are available in both liquid and solid forms. The solid form segment is projected to grow at a higher CAGR due to benefits such as ease of handling, stability, ease of transportation and storage, and longer shelf life.

• Source: Enzymes are derived from microorganisms (fungi, bacteria, and yeast), animals, and plants. In 2023, the microorganisms segment is anticipated to hold the largest market share due to their high stability, cost-effectiveness, and increasing use in various industries, including food & beverage, pharmaceuticals, and animal feed.

• Application: Food enzymes are widely used across various applications, including bakery, dairy, beverages (non-alcoholic, brewing, and alcohol production), fruit and vegetable processing, starch processing, meat, fish, and egg processing, and grain & oilseed processing. The bakery segment is expected to dominate the market in 2023, driven by the rising consumption of bakery products, growing urbanization, and innovations in the bakery industry.

• Geography: North America is expected to lead the global food enzymes market in 2023, thanks to technological advancements, diverse enzyme applications, rapid industrialization, increasing demand for alcoholic beverages and processed foods, and growing awareness of green technologies.
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Key Market Players
The food enzymes market is moderately competitive, with numerous global, regional, and local players. Leading companies in the market include 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), Aum Enzymes (India), and Nature BioScience Pvt. L.T.D. (India).

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Issued By Harshal
Country United States
Categories Business , Food , Nutrition
Tags food enzymes market , food enzymes market size , food enzymes market share , food enzymes market growth
Last Updated August 20, 2024