Food enzymes Market to Witness Significant Growth During Forecast Period
According to a new report published by KD
Market Insights, titled, "Food
Enzymes Market by
Type, Application and Source: Global Opportunity Analysis and Industry
Forecast, 2019 - 2026," the global food enzymes market size was $1,944.8
million in 2018, and is projected to reach $3,056.9 million by 2026,
registering a CAGR of 5.6% from 2019 to 2026. In terms of
volume, North America occupied more than one-third of the global market share
for 2018 and is expected to maintain its dominance during the forecast period.
Food enzymes are complex ingredients, which
act as catalyzers and are extensively used for increasing the diversity,
variety, and quality during processing of food. Food enzymes are often used for
food processing owing to its multiple benefits, which include enhancement of
texture, flavor & fragrance, preservation, coagulation, and tenderization.
Food enzymes are generally produced through fermentation process. Both
fed-batch and continuous fermentation processes are commonly used for the
commercial production of food enzymes across the world; however, food enzymes
are also sourced from animals and plants.
Developments in protein and genetic
engineering have resulted in the improvement of economy, specificity,
stability, and overall application potential of food enzymes. Food enzymes find
application on plethora of platforms such as starch modification, sweetener
production, sugar processing, baking, flour supplementation, dough
conditioning, cheesemaking, brewing, flavor enhancement, meat tenderizing, and
juice processing.
The application of enzymes in food processing
is governed by various national and international agencies across the world.
For general purposes, the Food Chemicals Codex (FCC) and FAO/WHO Joint Expert
Committee on Food Additives (JECFA) have framed guidelines for the usage of
enzymes as food additives. AMFEP of Europe and Enzyme Technical Association
(ETA) of the U.S. region also provide regulatory guidelines for the safe usage
of food enzymes in the food & beverage industry
It is pertinent to note that millennials are
now more concerned about food transparency than any earlier generation. They
demand food products with little or no artificial ingredients and synthetic
chemicals. They also demand food products that undergo less processing. As a
result, leading manufacturers focus on introducing clean label products that
cater to such growing demands from millennials.
The food enzymes market analysis is based on
type, application, source, and region. Based on type, the market is divided
into carbohydrase, lipase, protease, and others. Based on application, the
market is analyzed across bakery products, beverages, dairy products, and
others. Based on source, it is classified into microorganisms, animals, and
plants. Based on region, the market is studied across North America, Europe,
Asia-Pacific, and LAMEA.
Key Findings of the Food Enzymes
Market:
- The carbohydrase segment was the highest
contributor to the global food enzymes market in 2018 and is projected to grow
at a moderate CAGR during the forecast period.
- There is an increase in demand for food enzymes from bakery segment. As a result, the bakery segment is poised to grow with lucrative CAGR of 7.2% during the forecast period.
- Clean labels, immobilized enzyme technology, and sustainability are the some of the emerging food enzymes market trends around the world.
- Microorganisms segment accounted for about three-fourths of the food enzymes market share for 2019 and is projected to grow with highest the CAGR during the forecast period.
- Dairy product segment is projected to exhibit rapid growth in the market, in the estimated forecast.
- In terms of food enzymes market growth, the Asia-Pacific region is poised to grow with highest CAGR during the forecast period followed by LAMEA.
- There is an increase in demand for food enzymes from bakery segment. As a result, the bakery segment is poised to grow with lucrative CAGR of 7.2% during the forecast period.
- Clean labels, immobilized enzyme technology, and sustainability are the some of the emerging food enzymes market trends around the world.
- Microorganisms segment accounted for about three-fourths of the food enzymes market share for 2019 and is projected to grow with highest the CAGR during the forecast period.
- Dairy product segment is projected to exhibit rapid growth in the market, in the estimated forecast.
- In terms of food enzymes market growth, the Asia-Pacific region is poised to grow with highest CAGR during the forecast period followed by LAMEA.
The key players studied
across food enzymes industry includes Associated British Foods Plc. (ABF),
Advanced Enzyme Technologies, Amano Enzyme Co., Ltd., BASF, Chr. Hansen Holding
A/S, DowDuPont, Kerry Group PLC, Novozymes, Royal DSM N.V., and Aum Enzymes.
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