Detailed Study of Food Enzymes Market by Research Cosmos
Food Enzymes Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Food Enzymes Market was valued at USD 2.34 billion in 2018 and projected to reach USD 3.25 billion by 2023 growing at a CAGR of 6.7% during the forecast period 2018 to 2023.
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Food Enzymes Market Growth Drivers and Restraints:
The market is growing due to the increasing awareness about the health and nutritional benefits of food enzymes. This has led to the increasing adoption of food enzymes across several food applications such as frozen foods manufacturing industries and packaged foods units amongst others. Food enzymes are used often as food additives to enhance digestibility, texture and shelf life of food and beverages. It also has a wide application in meat processing, dairy industries, alcoholic beverages, and manufacturing of pre-digested foods. They are used as a natural fermentation agent (breaking of large sized molecule of carbohydrates fats and proteins) in various amino-acids and specialty foods. The market has been segmented into beverages, bakery products, confectionery products, processed food, dairy products, and others. The health-related side effect associated with certain enzymes is indeed acting as a major challenge for the overall growth of the food enzymes market and a need of defined set of guidelines to regulate the market is stemming.
Ever-increasing population and growing demand for processed foods coupled with growing awareness about healthy food and beverages products is propelling the growth in the food industry, which in turn is pushing forth the growth of the global food enzymes market. Also, technical innovations in enzymatic food processing and the rising application of food enzymes in variety of new food products are also driving the overall market. The need and demand in various sectors for food enzymes is calibrated to boost the growth of the market in the near future.
Geographical Analysis of Food Enzymes Market:
North America is touted to be the largest market for food enzymes closely followed by Europe and Asia Pacific. The food enzymes market in Asia Pacific has been witnessing healthy growth rate from past few years and is expected to grow even at higher rate in upcoming years, primarily owing to westernization and globalization that is leading to a massive change in food habit among consumers, such as preference towards bakery, confectionaries, specialty food and process food.
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Key Players of Food Enzymes Market:
The major companies operating in the world food enzymes market include Advanced Enzymes Technologies Limited, AB Enzymes GMBH, Dyadic International Inc., AUM Enzymes, E.I. DUPONT DE Nemours & Company, Jiangsu Boli Bioproducts Co. Ltd, Novozymes A/S, Sunson Industry Group Company Limited, etc.
Food Enzymes Market Segmentation:
By Type:
- Oxidoreductases
- Transferases
- Hydrolases
- Isomerases
- Lyases
- Ligases
- Plants
- Micro-organism
- Animals
By Application:
- Dairy Products
- Bread
- Drink
- Beer
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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