Food Enzymes Market Size, Industry Trends, Segmentation, Enzymes…
The size of the global food enzymes market is expected to increase significantly due to the massive adoption of natural ingredients with clean labels in the food and beverage industry. Fortune Business Insights in its latest report titled Food Enzymes Market Size, Share, and Industry Analysis, by Source (Microbes, Plants, and Animals), Type (Carbohydrates, Proteases, Lipases and Others), Application (Bakery, Dairy, Beverages, Nutrients and Other Processed Foods), and Regional Forecast, 2020 2027.”, It is also noted that the market capitalization was $1.69 billion in 2019 and is likely to reach $2.39 billion by 2027 while showing a compound annual growth rate of 4.70% during the forecast period.
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Drivers and restrictions:
Increased consumption of clean labeled food to increase demand
According to the European Food Safety Authority (EFSA), long-term exposure to chemicals at highly concentrated levels through food may have a toxic effect on humans. Although they are basic building blocks, synthetic chemicals as additives have a negative impact on health when consumed. Increased awareness among people regarding the health concerns associated with the consumption of artificial ingredients is expected to increase the demand for clean labeled food worldwide. The gradual shift of consumers from chemical ingredients to naturally processed food products that are safe and healthy will increase the demand for food enzymes in the coming years. For example, in October 2019, Tiny Organics, a US-based direct-to-consumer brand, announced the launch of healthy, plant-based organic recipes for young children. Recipes include baby burritos, pumpkin spice oatmeal, and coconut curry-based dishes.
Demand for high-quality processed foods drives growth in North America
Among the regions, North America is expected to remain dominant and record high revenues of the global food enzymes market in the coming years. This has been attributed to factors such as the growing demand for naturally occurring ingredients. In addition, the growing demand for high-quality processed foods and the growing investments from manufacturers to develop innovative products are likely to drive the growth of the market in the region. On the other hand, Asia Pacific is likely to register flat market growth over the forecast period. This is attributed to factors such as the increasing demand for bakery and dairy products.
Joint ventures between companies to stimulate demand for food enzymes
In November 2019, Cargill along with DSM announced their plan to enter into a joint venture. Avansya, the joint venture between the two giants is about setting up a commercial facility to manufacture stevia sweeteners through the fermentation process. The companies are likely to strengthen their position through their collaboration with the construction of a 10,000-square-foot factory costing approximately $50 million, located in Blair, Nebraska. Adoption of strategies such as joint ventures, product launches, and expansion of product offerings by companies to meet growing consumer demand is likely to drive growth of the global food enzymes market between 2020 and 2027.
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Detailed table of content:
Definitions and assumptions
the main ideas
Overview of parent/related markets
Industry SWOT analysis
Supply chain and organizational analysis
Recent industry developments – policies, partnerships, new sourcing launches, mergers and acquisitions
Global Food Enzymes Market Analysis, Insights & Forecasts, 2016-2027
Market size estimates and forecasts
According to the source
Depending on the application
other processed foods
Middle East and Africa
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key industrial development:
March 2019: AB Enzymes, a leading biotechnology company, has announced the release of a new enzyme product, ROHALASE. The new enzyme will reduce the need for chemicals to extract oil from seeds such as sunflower, soybean and canola, among others, while helping the company achieve higher yields.
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Press release distributed by express wire
To view the original on The Express Wire, visit Food Enzymes Market Size, Industry Trends, Retail, Global Demand, Share, and Forecast to 2027