Food Enzymes Market Size Set for Robust Growth: Increasing Demand for Processed Foods and Technological Advancements Drive Expansion | 2030
The global food enzymes market, valued at USD 3 billion in 2021, is poised for remarkable growth with a projected Compound Annual Growth Rate (CAGR) of 6.1 percent during the forecast period. The rising demand for convenience food and the introduction of frozen, packaged, and processed food have catalyzed the need for food enzymes. These enzymes are crucial in enhancing food texture, digestibility, and shelf life.
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Key Report Findings
- Rising Demand for Processed Foods: The demand for processed foods is surging, especially in Asia Pacific economies like China and India. As the consumption of packaged and convenience foods rises, the application of food enzymes becomes essential for the F&B industry.
- Technological Advancements: Innovations in molecular biology, genetics, and microbial diversity are driving the market’s growth. The demand for food enzymes is rising as they play a vital role in enhancing the quality of processed foods, making them suitable for various applications.
Food Enzymes Market: COVID-19 Impact
The global COVID-19 pandemic has brought attention to the vulnerabilities in food security and nutrition. The disruption caused by the pandemic, along with mitigation measures and economic challenges, has underscored the importance of food systems. There’s a need for coordinated action to prevent a worldwide food crisis due to the pandemic’s long-term effects on food supply chains.
Food Enzymes Market: Drivers
- Processed Foods Demand: The surging economies of Asia, particularly China and India, are driving the demand for processed foods. Rising disposable incomes and changing lifestyles are leading to increased consumption of convenience and on-the-go food items, which require the use of food enzymes.
- Technological Innovations: Advances in molecular biology, genetics, and microbial diversity are boosting the demand for food enzymes. Enzymes play a crucial role in improving the quality and preservation of processed foods, making them an essential ingredient for various applications.
Food Enzymes Market: Restraints
- Operating Conditions Limitations: Food enzyme activity is significantly influenced by environmental factors such as temperature and pH. Operating outside their functional range can result in reduced activity or denaturation, limiting their effectiveness.
Food Enzymes Market: Segment Overview
- Carbohydrates Dominate: The carbohydrates segment is expected to hold the largest market share by type. Carbohydrase enzymes, including amylases, cellulases, and others, offer benefits in terms of affordability, simplicity of process customization, and optimization.
- Food Segment Leads: The food application segment is projected to have the largest market share. Enzymes are used in various food applications, such as meat processing, dairy products, baked goods, nutraceuticals, and more.
Food Enzymes Market: Regional Landscape
- Asia Pacific Dominates: Asia Pacific is expected to witness the highest CAGR growth during the forecast period. The region’s economic growth, rising spending power, and increased demand for premium processed foods are driving the demand for food enzymes.
- North America: North America held the largest market share for food enzymes in 2021. The region’s advanced food ingredient sector and significant investments in enzyme development are fueling market expansion.
Global Food Enzymes Market: Competitive Landscape
For instance, in March 2021, International Flavors & Fragrances, Inc. introduced the Enovera 3001 enzyme, providing a label-friendly solution for strengthening bread dough while preserving its texture and flavor. Additionally, Amano Enzyme Inc. released Umamizyme Pulse, a non-GMO enzyme that enhances the umami taste of plant-based proteins.
Prominent players in the food enzymes market include DuPont, Associated British Foods plc, DSM, Novozymes, CHR. Hansen, Kerry Group, and more.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/food-enzymes-market
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