The global food enzymes market is expected to riseconsiderably owing to extensive adoption of clean-labeled and naturalingredients in food and beverage industry. Fortune Business Insights, in itslatest report, titled “Food Enzymes Market Size, Share and IndustryAnalysis, By Source (Microbes, Plants, and Animals), Type (Carbohydrases,Proteases, Lipases and Others), Application (Bakery, Dairy, Beverages,Nutraceuticals and Other Processed Foods), and Regional Forecast, 2020 2027.”,furtherobserves that the market value stood at USD 1,695.65 million in 2019, which islikely to hit USD 2,393.64 million by 2027, while exhibiting a 4.70% CAGRduring the forecast period.
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What does the Market ReportInclude?
The market report includes an exhaustive studyof several factors such as drivers, restraints, challenges, and opportunitiesthat will affect the growth of the market in the forthcoming years. The reportcovers regional demographics that include qualitative and quantitativeinformation about the regions that are further divided into nations that arecontributing to the growth of the market between 2019 and 2026. Furthermore,the competitive landscape has been discussed in-depth that include informationof several players operating in the market. Moreover, information on theadoption of strategies such as merger and acquisition, collaboration,partnerships, and joint ventures by the companies that will drive the growth ofthe market has been included during the projected horizon.
Food enzymes play an important role insustaining life as all the biological reactions occurring within the humancells depend on them. In addition to this, they break down large molecules ofproteins, fats, and proteins into a smaller fragment of molecules that can beeasily absorbed by the small intestine within the human body. It is to notethat without enzymes, the body would find it difficult to digest food whileleading to food intolerance. Therefore, enzymes are vital and promote properfood digestion and work well to relieve certain stomach disorders such asirritable bowel syndrome (IBS).
Drivers and Restraints:
Increasing Consumption ofClean-Labeled Food to Surge Demand
According to the European Food Safety Authority(EFSA), long-term exposure of chemicals at high concentrated levels throughfood may have a toxicological effect on humans. Though they are essentialbuilding blocks, synthetic chemicals as additives have an adverse effect onhealth when consumed. Increasing awareness among people regarding the healthconcerns associated with the consumption of synthetic ingredients is expectedto surge demand for clean-labeled food across the globe. The gradual shift ofthe consumers from chemical ingredients to naturally processed food productsthat are safe and healthy will boost the demand for food enzymes in theforthcoming years. For instance, in October 2019, Tiny Organics, a U.S.-baseddirect to consumer brand, announced its launch of organic plant-based recipesthat are healthy for toddlers. The recipes include baby burrito bowls, pumpkinspice oatmeal, and coconut curry induced dishes.
Regional Analysis:
Increasing Demand forHigh-quality Processed Food to Augur Growth in North America
Among the regions, North America is anticipatedto remain dominant and register high global food enzymes market revenue in theforthcoming years. This is ascribable to factors such as growing demand fornaturally occurring ingredients. Additionally, increasing demand for highquality processed food and rising investment s from manufacturers to developinnovative products is likely to drive the market growth in the region.Asia-Pacific, on the other hand is likely to register steady growth for themarket during the forecast period. This is attributable to factors such asgrowing demand for bakery and dairy products.
Competitive Analysis:
Joint Ventures AmongCompanies to Spur Demand for Food Enzymes
In November 2019, Cargill along with DSMannounced its plan to enter into a joint venture. Avansya, the joint venturebetween the two giants is about constructing a commercial facility tomanufacture stevia sweeteners through the fermentation process. The companiesare likely to consolidate their position with their collaboration by setting upthe 10,000 sq. ft. plant that costs around USD 50 million, located at Blair,Nebraska. Adoption of strategies such as joint ventures, product launches, andexpansion of product offerings by the companies to cater to the increasingconsumer demand is likely to favor the global food enzymes market growthbetween 2020 and 2027.
Gain More Insights into theFood Enzymes Market Research Report
https://www.fortunebusinessinsights.com/food-enzymes-market-102835
