Overview and Scope
Food enzymes are unique proteins that serve as catalysts in different biochemical reactions involved in food processing and digestion. They facilitate chemical reactions without being used up. These enzymes assist in decomposing complex molecules into simpler ones, improving the texture, flavor, appearance, and nutritional quality of food.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The food enzymes market report table of contents includes:
1. Executive Summary
2. Food Enzymes Market Characteristics
3. Food Enzymes Market Trends And Strategies
4. Food Enzymes Market – Macro Economic Scenario
5. Global 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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