The food enzymes from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Food Enzymes Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The food enzymes market size has grown strongly in recent years. It will grow from $2.40 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increased awareness of health benefits associated with enzyme-enhanced products, expansion of the global food and beverage industry, regulatory approvals for enzyme usage, innovations in enzyme production methods, and heightened focus on sustainability and cost-effectiveness in food production.
The food enzymes market size is expected to see strong growth in the next few years. It will grow to $3.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing consumer demand for clean-label and plant-based products, growing awareness of health benefits associated with enzyme-rich diets, expanding applications in functional foods, rising adoption of enzyme technology in food preservation and waste reduction efforts, advancing biotechnological innovations driving enzyme production efficiency. Major trends in the forecast period include advancements in enzyme engineering heightened focus on personalized nutrition solutions utilizing enzyme technology, the emergence of novel enzyme formulations, the adoption of enzyme-based solutions for food waste reduction, and the integration of advanced biotechnological techniques to enhance enzyme functionality.
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Scope Of Food Enzymes Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Food Enzymes Market Overview
Market Drivers –
The increasing demand for processed food products is expected to propel the growth of the food enzyme market going forward. Processed food products refer to food items that have undergone various mechanical, physical, or chemical alterations from their original form to make them suitable for consumption. The fast-paced lifestyle, technological advancements in food processing, urbanization, and higher disposable incomes are leading to the rising demand for processed food products. Food enzymes serve as catalysts that accelerate chemical reactions during processing without being depleted in the manufacturing of processed food products. For instance, in October 2023, according to Agriculture and Agri-Food Canada (AAFC), a Canada-based government department for agriculture and food-related products, in 2022, exports of processed food and beverage products reached an all-time high of $54.3 billion, marking a 14.1% increase compared to 2021. These exports represented 34.7% of the total production value. Therefore, the increasing demand for processed food products is driving the growth of the food enzyme market.
Market Trends –
Major companies operating in the food enzyme market are focused on developing advanced solutions, such as lactase technology, to improve the production process of lactose-free dairy products. Lactase technology refers to the utilization of enzymes, specifically lactase, in food processing to catalyze the breakdown of lactose, a sugar found in milk and dairy products, into simpler sugars such as glucose and galactose. For instance, in May 2023, DSM-Firmenich, a US-based nutrition and health company, launched Maxilact Next. Maxilact Next is the most effective and pure lactase that boasts an impressive speed, approximately 25% faster than its predecessor, resulting in a 25% reduction in hydrolysis time at equivalent dosages. This advancement empowers lactose-free dairy producers to enhance production efficiency, expand capacity, and optimize resource utilization without compromising the flavor of lactose-free products. MaxilactNext enriches the existing Maxilact portfolio, which draws on over five decades of expertise in lactose-free dairy production, offering a comprehensive suite of high-purity solutions.
The food enzymes market covered in this report is segmented –
1) By Type: Carbohydrase, Lipase, Protease, Other Types
2) By Source: Microorganisms, Animals, Plants
3) By Formulations: Powder, Liquid, Other Formulations
4) By Application: Bakery Products, Beverages, Dairy Products, Processed Foods, Confectionery Products, Other Applications
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Regional Insights –
North America was the largest region in the food enzymes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the food enzymes market are International Flavors & Fragrances Inc., Kerry Group, Soufflet Group, Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen Holding A/S, MP Biomedicals, Biocon Limited, Advanced Enzymes Technologies Ltd., AB Enzymes GmbH, Bioseutica B.V., Specialty Enzymes & Biotechnologies Co., Nagase America LLC, Amano Enzyme Inc., SternEnzym GmbH & Co. KG, Enzyme Development Corporation, Sacco System Group, Lumis Biotech Pvt. Ltd., Jiangsu Boli Bioproducts Co. Ltd., Dyadic International Inc., Aum Enzymes, Creative Enzymes, Sunson Industry Group Co. Ltd., Noor Enzymes Pvt. Ltd.
Table of Contents
1. Executive Summary
2. Food Enzymes Market Report Structure
3. Food Enzymes Market Trends And Strategies
4. Food Enzymes Market – Macro Economic Scenario
5. Food Enzymes Market Size And Growth
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32. Global Food Enzymes Market Competitive Benchmarking
33. Global Food Enzymes Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Food Enzymes Market
35. Food Enzymes Market Future Outlook and Potential Analysis
36. Appendix
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