According to Stratistics MRC, the Global Food Enzymes Market is accounted for $2.39 billion in 2017 and is expected to reach $5.28 billion by 2026 growing at a CAGR of 9.2% during the forecast period.
Factors such as rising demand for processed food, increasing awareness about healthy & nutritional foods and better food quality are fueling the market growth. However, altering legislations and lack of consistent safety rules is hindering the growth of the market. One of the major opportunities in the market is replacing traditional chemicals in different industries.
Food enzymes are biocatalysts, supplied from plants, animals or micro-organisms used to change the speed of biochemical reactions in foods and beverages. It is used to improve the superiority and develop the nutritional properties of food & beverage products. These are also added to enhance the flavors, texture and organoleptic properties of foods & beverages. It has broad application in meat processing, dairy industries and alcoholic beverages. In addition, it is also used as natural fermentation agent in different amino-acids and specialty foods.
By Type, Protease segment is a group of enzymes whose catalytic function is to hydrolyze peptide bonds of proteins. Protease has a various health benefits such as it boosts immune system, stops inflammatory bowel diseases and cures skin burns & stomach ulcers will boost this segments demand.
By geography North America is expected to dominate the global food enzymes market during the forecast period owing to increased processed food demand in countries such as U.S and Canada. Asia Pacific is the fastest growing market owing to increased end-use application and processed food demand in countries such as China, India and Japan.
Some of the key players in Food Enzymes market include BASF SE , E. I. Du Pont De Nemours and Company, Nemours and Company, Novozymes A/S, Novus International, Inc., Cargill Inc, Associated British Foods plc, Alltech Inc., Lesaffre Group, Adisseo France S.A.S., Chr. Hansen Holdings A/S, Jiangsu Boli Bioproducts Co. Ltd, Biocatalysts Limited, Advanced Enzymes Technologies Ltd., Royal DSM, Solvay SA, JAB Holding Company and Mondelz International.
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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