The global food enzymes market is anticipated to witness growth over the forecast period. Globally increasing food enzyme application in end-use markets such as beverages, dairy, and confectionary owing to its environment friendly property is expected to be the key driving factor for the market growth over the next seven years. Bakery is expected to remain the largest end-use industry for food enzyme applications owing to properties such as improved shelf life and dough stability followed by dairy and beverages. Food & beverage enzymes are mostly produced from microbial sources owing to low cost and high productivity. Food enzymes properties such as digestive, softening and anti-staling are anticipated to drive food enzyme market growth.
Food enzymes can be classified as lipase, protease and carbohydrase wherein carbohydrase includes lactase, cellulose, and amylase on the basis of chemical properties. In terms of type, carbohydrase is expected to dominate food enzymes market followed by lactase. On basis of source, food enzyme market can be classified under micro-organisms, animals, and plants. Reduced carbon emissions and raw material wastage are slated to fuel food enzyme market growth over the forecast period. Shift in trend towards healthy food products coupled with higher productivity is also expected to augment food enzyme market growth. Increasing per capita income coupled with product penetration is expected to positively impact food enzymes demand and in turn, augment global market growth. Technological innovation and upgradation is expected to be a key driving factor for market growth over the forecast period. Health hazards associated with excess food enzymes consumption is slated to obstruct market growth and pose challenges to industry participants over the forecast period. New food enzymes applications in markets such as protein fortification are expected to prompt growth for food enzymes market and create lucrative opportunities for industry participants. genetically modified organism strain are produced using food enzymes originating and sourced from micro-organisms with help of technological upgradation Strains obtained are expected to function in adverse conditions and improve efficiency which in turn will augment food enzyme market growth and yield opportunities for industry players.
North American region is expected to remain the dominant regional market commanding major market share followed by Europe owing to increased processed food demand in countries such as the U.S. and Canada. Increased processed food demand in European food industry is expected to drive food enzymes market in the region. However, recently imposed legislation to access risk associated with food enzymes usage in the food industry is expected to obstruct growth. Europe is anticipated to witness below average growth owing to the aforementioned reason. Asia Pacific is expected to be the fastest growing emerging economy owing to increased end-use application and processed food demand in countries such as China, India and Japan. Rapid urbanization coupled with rising living standards are anticipated to be the key drivers for change in consumer taste and preferences in countries of Asia Pacific including China and India. Increasing awareness about healthy food is also expected to prompt demand for food enzymes in emerging economies which in turn is anticipated to augment food enzyme market growth. Manufacturers are aware of the potential markets of Asia Pacific and Latin America and are well versed with global shift towards novel and exotic flavors. South Africa and Brazil are also anticipated to witness a change in food habits and exhibit significant market growth over the forecast period.
Key players operating in food enzymes market include Novozymes, DuPont, DSM, Chr. Hansen, Nagase Chemtex Corporation,AB Enzymes, and Amano Enzymes, Inc. Extensive R&D investment in developing new products and diverse applications is expected to remain a key strategy for the companies and create immense opportunities for industry participants. Other players include Noor Enzymes, Sunson Industry Group Company Limited, Beldem, Specialty Enzymes, Advanced Enzymes Technologies Limited, AUM Enzymes, Dyadic International,Inc, Jiangsu BoliBioproducts Co. Ltd, Novozymes A/S, and Puratos Group NV
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FDA, in particular, has relaxed the nutrition labeling of products which is expected to aid in increasing the distribution of packaged foods by restaurant operators leading to the optimum supply chain of products to consumers. Furthermore, food safety testing and processing industries are expected to function at full capacity owing to consumers stock-piling goods during the COVID-19 lockdown. The report will account for Covid19 as a key market contributor.
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