The global Food Enzymes Market is expected to rise considerably owing to extensive adoption of clean-labeled and natural ingredients in food and beverage industry. Fortune Business Insights, in its latest report, titled “FoodEnzymes Market Size, Share and Industry Analysis, By Source (Microbes, Plants,and Animals), Type (Carbohydrases, Proteases, Lipases and Others), Application(Bakery, Dairy, Beverages, Nutraceuticals and Other Processed Foods), andRegional Forecast, 2020 2027.”,further observes that the market valuestood at USD 1,695.65 million in 2019, which is likely to hit USD 2,393.64million by 2027, while exhibiting a 4.70% CAGR during the forecast period.
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List of the Key Companies Operating in the Food Enzymes Marketare:
- Novozymes (Denmark)
- DuPont (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- AB Enzymes (Germany)
- Koninklijke DSM N.V. (Netherlands)
- Chr. Hansen Holding A/S (Denmark)
- BASF SE (Germany)
- Nutritech Enzymes (Finland)
- Amano Enzymes, Inc. (China)
- Biocatalysts (UK)
What does the Market Report Include?
The market report includes an exhaustive study of several factorssuch as drivers, restraints, challenges, and opportunities that will affect thegrowth of the market in the forthcoming years. The report covers regionaldemographics that include qualitative and quantitative information about theregions that are further divided into nations that are contributing to thegrowth of the market between 2019 and 2026. Furthermore, the competitivelandscape has been discussed in-depth that include information of severalplayers operating in the market. Moreover, information on the adoption ofstrategies such as merger and acquisition, collaboration, partnerships, andjoint ventures by the companies that will drive the growth of the market hasbeen included during the projected horizon.
Food enzymes play an important role in sustaining life as all thebiological reactions occurring within the human cells depend on them. Inaddition to this, they break down large molecules of proteins, fats, andproteins into a smaller fragment of molecules that can be easily absorbed bythe small intestine within the human body. It is to note that without enzymes,the body would find it difficult to digest food while leading to foodintolerance. Therefore, enzymes are vital and promote proper food digestion andwork well to relieve certain stomach disorders such as irritable bowel syndrome(IBS).
Drivers and Restraints:
Increasing Consumption of Clean-Labeled Food to Surge Demand
According to the European Food Safety Authority (EFSA), long-termexposure of chemicals at high concentrated levels through food may have atoxicological effect on humans. Though they are essential building blocks,synthetic chemicals as additives have an adverse effect on health whenconsumed. Increasing awareness among people regarding the health concernsassociated with the consumption of synthetic ingredients is expected to surgedemand for clean-labeled food across the globe. The gradual shift of the consumersfrom chemical ingredients to naturally processed food products that are safeand healthy will boost the demand for food enzymes in the forthcoming years.For instance, in October 2019, Tiny Organics, a U.S.-based direct to consumerbrand, announced its launch of organic plant-based recipes that are healthy fortoddlers. The recipes include baby burrito bowls, pumpkin spice oatmeal, andcoconut curry induced dishes.
Regional Analysis:
Increasing Demand for High-quality Processed Food to Augur Growthin North America
Among the regions, North America is anticipated to remain dominantand register high global food enzymes market revenue in the forthcoming years.This is ascribable to factors such as growing demand for naturally occurringingredients. Additionally, increasing demand for high quality processed foodand rising investment s from manufacturers to develop innovative products islikely to drive the market growth in the region. Asia-Pacific, on the otherhand is likely to register steady growth for the market during the forecastperiod. This is attributable to factors such as growing demand for bakery anddairy products.
Competitive Analysis:
Joint Ventures Among Companies to Spur Demand for Food Enzymes
In November 2019, Cargill along with DSM announced its plan toenter into a joint venture. Avansya, the joint venture between the two giantsis about constructing a commercial facility to manufacture stevia sweetenersthrough the fermentation process. The companies are likely to consolidate theirposition with their collaboration by setting up the 10,000 sq. ft. plant thatcosts around USD 50 million, located at Blair, Nebraska. Adoption of strategiessuch as joint ventures, product launches, and expansion of product offerings bythe companies to cater to the increasing consumer demand is likely to favor theglobal food enzymes market growth between 2020 and 2027.
Source:
https://www.fortunebusinessinsights.com/food-enzymes-market-102835
