The global proteases market is anticipated to expand at 6.3 % CAGR during the assessment period (2017-2023) owing to an increased demand for convenience food items, asserts Market Research Future (MRFR). Proteases are enzymes that break down the peptide bonds in protein with the help of the hydrolytic process. Proteases such as renin, trypsin, bromelain, pepsin, papain, and alkaline protease are widely used in food and beverages industry. They are usually used to convert the raw material into the main product and are also used as additives to alter functional characteristics of a product.
Future Drivers and Constraints
The growing demand for meat, bakery, and dairy products from the food and beverage industry which comprise snacks, bread, yogurt, meat, juices, and others have fueled the demand for proteases across the globe. Demand for convenience food like bakery products, juices, and snacks due to increasing population is another main factor contributing to the growth of the global market. Also, the availability of proteases in several forms has influenced its demand in the preparation of various food items.
Proteases also act as a valuable catalyst in the industrial process. For instance, enzyme-like papain is used to tenderize meat in the meat industry. Moreover, growing private investments by companies in food enzymes are contributing to the growth of the market. Its eco-friendly nature owing to its non-pathogenic and non-toxic properties is an added advantage leading to the growth of the market during the forecast period.
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However, strict regulations may hamper the growth of the proteases market globally. Also, instability of proteases at fluctuating temperature can also hinder the market growth over the assessment period.
Some of the key players operating the global market are Amano Enzyme Inc. (Japan), Associated British Foods Plc (U.K), E. I. du Pont de Nemours and Company (U.S.), Novozymes A/S (Denmark), Koninklijke DSM N.V. (the Netherlands), Chr. Hansen Holding A/S (Denmark), Advanced Enzyme Technologies Limited (India), Specialty Enzymes & Biotechnologies Co. (U.S.), Biocatalysts Limited (U.K), Dyadic International Inc. (U.S.), and others.
The global proteases market has been segmented on the basis of form, type, application, and region.
By mode of type, the global proteases market has been segmented into papain, alkaline protease, bromelain, pepsin, renin, trypsin, and others. Among these, the renin segment is estimated to dominate the market followed by alkaline protease due to higher usage in meat products, dairy, and food and beverages.
By mode of form, the global protease market has been segmented into powder, liquid, and others. Among these, the powder segment holds the major share owing to its growing use of food products for improving the shelf-life.
By mode of application, the global protease market has been segmented into beverages, bakery & confectionery, animal feed, sweet & savory snacks, dairy & frozen desserts, and others. Among these, the bakery and confectionery segment is estimated to dominate the market due to its high usage in bakery products in order to increase the shelf-life and enhance stability.
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Geographically, the proteases market spans across Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the North American region is expected to dominate the proteases market closely followed by the European region. Growing demand for juices, dairy products, and bakery in the developed countries have uplifted the market in this region. Germany, Netherland, and the U.S. are the major importers in this region which are propelling the market growth. Moreover, major industry players are involved in the R&D for a wide range of product applicability and enhanced functionality.
Asia Pacific is also predicted to showcase a moderate growth rate owing to the growing demand for beverages and dairy products in countries such as China and India.
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