Market Research Future published a Half Cooked Research Report on “Global Food Enzymes Market Research Report – Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
DuPont, Royal DSM, Jiangsu Boli Bioproducts, AUM Enzymes, AB Enzymes GMBH, Associated British Foods, Novozymes, Puratos Group, Nagase Chemtex Corporation, Dyadic International among others are some of the prominent players at the forefront of competition in the Global Food Enzymes Market and are profiled in MRFR Analysis.
Food Enzymes Market – Overview
Food Enzymes are predominantly utilized in number of end use industries such food & beverages, meat products, dairy, bakery and others. Food Enzymes market is predicted to witness significant growth on account of their demand in numerous end use industries. On the basis of type, food enzymes are categorized as amylase, protease, lipase, cellulose, carbohydrates, and others. Among them, carbohydrates estimated to be the largest market share in 2015 due to wide utilization in food & beverage drinks. Cellulose is predicted to be the fastest growing segment due to their growing usage in preserve foods and juices. In addition, among the end use segment food & beverage accounted for the largest market share on account rising demand for various kind of packaged foods and expansion of this industry in developing economies. Increasing per capita disposable income along with rising awareness regarding the health has raised the consumption of nutritious and meat products, which in turn, is estimated to propel the growth of the market. Moreover, strict regulations regarding the production process and maintaining hygiene in the manufacturing unit is predicted to hamper the growth of the market.
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Geographically, North America emerged as the largest market for food enzymes followed by Europe and Asia Pacific. The North America Food Enzymes Market is expected to witness healthy growth with a significant CAGR over the assessment year on account of strong presence of leading manufacturers in these region. In North America the market is further classified into Canada and U.S., among them U.S. accounted as the leading regional market share on account of increasing research and developments activities and is estimated to retain its dominance in the regional market growth due to strong growth of food & beverage sector. Asia Pacific is estimated to witness significant growth over the forecast period. The demand for food enzymes is estimated to raise in various countries of Asia Pacific such as China, India, Japan, Taiwan, Singapore, Bangladesh, Thailand, Malaysia, Australia, and South Korea due to increasing population along with shifting of manufacturing base for many industries In Europe, food enzymes market is expected to register above average growth owing to increasing awareness regarding the benefits associated with the products made from Food Enzymes as well as continuous expansion of meat and dairy market specifically in Germany, U.K., Spain, France, Italy, and Russia. Furthermore, numerous developing countries of Latin America and the Middle East & Africa are estimated to witness moderate growth on account of rising purchasing power and strong consumer base for meat product and dairy products industries.
Industry/ Innovation/ Related News:
July 2017– Ginkgo Bioworks, an organism company announced to establish a partnership with Kerry, leading company in taste and nutrition. In this agreement Ginkgo will work with Kerry to enhance its production of specialty enzymes used in food. This agreement helps company to strengthen its position among global food enzymes supplier.
February 2017– India based Advanced Enzyme Technologies Limited announced to acquire Germany based Evoxx technologies GmbH. This acquisition will help company to expand their R&D capabilities and also strengthen their European presence. This will help company to expand their enzyme portfolio & business in biocatalysis and food applications.
November 2016– Novozymes, a Denmark based organization announced to expand their Indian production facility with cost around USD 46.68 Million. The company construct a new plant at its Mumbai based location to meet the increasing demand from India and South East Asian Markets.
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The Food Enzymes Market Report has analysed the level of competition among the major manufacturers as well as sector growth and market scenario. The Global Food Enzymes Market includes a large number of producers operating in the market which comprises of large scale and medium scale producers. The prominent players and medium level manufacturers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from China, Singapore, South Korea, Bangladesh, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Apart from this, the major producers of food enzymes are following various strategic plans to improve their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the key operating players in this market are increasing their manufacturing capacity of Food Enzymes to meet the growing demand for Food Enzymes across the globe.
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