According to the report Latin America Fruit & Vegetable Processing Enzymes market was worth USD 3.4 billion in 2016 and is estimated to be growing at a CAGR of 7.4%, to reach USD 4.85 billion by 2021.
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Food processing is the process of transforming the raw materials using physical or chemical operations to change or preserve the food.
Canned and frozen fruits and vegetables are some of the examples of processed fruit and vegetables.
Enzymes play a major role in food and beverages industry.
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They are used for liquefaction of fruits and vegetables so that they can yield more in juice extraction and reduces wastage. Quality of products is also increased with fewer resources and reduced time consumption.
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Technological advancements have increased the applications of fruit and vegetable processing enzymes in food and beverages industry and it is expected to drive the market. Increasing awareness of health benefits of consuming nutritional food and use of processed fruit and vegetables in health management are also driving the market.
Huge expenses required for research and development activities and uncertain regulatory processes in some regions are restraining the market growth.
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The Latin America Fruit & Vegetable Processing Enzymes Market is segmented on the basis of type, application, product type, form, source and region. On the basis of type of enzymes, the market is segmented into Amylase, Pectinase, Protease, Cellulase and other enzymes.
Pectinase segment holds the largest market share in this segment as it is most commonly used enzyme in fruit juice industry. On the basis of application, the market is segmented into fruits and vegetables.
On the basis of product types, the market is segmented into Juices, wines and ciders, pastes and purees and others. Based on form, the market is segmented into liquid and powder forms.
Both forms are almost equally preferred in various industries. The source of enzymes is segmented into bacteria and fungi.
Fungi such as yeast are widely used in various processing industry but genetically modified bacteria are used for certain enzyme production.
Latin America is geographically divided into Brazil, Argentina, Mexico and rest of South America. Agriculture is prevalent in this region producing abundant supply of fruits and vegetables.
Processing industries are expanding into this region due to availability of raw materials increasing the demand for fruit and vegetable processing enzymes.
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Some of the key players in fruit and vegetable processing enzymes market are E. I. du Pont de Nemours and Company, Associated British Foods Plc, Novozymes A/S, Group Soufflet, Koninklijke DSM N.V., Biocatalysts, Amano Enzyme Inc., Sunson Industry Group and Advanced Enzymes.
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