The market for food enzymes is projected to reach USD 2.94 Billion by 2021, at a CAGR of about 7.4% from 2016. This market is fuelled by the growing awareness among consumers toward the health and nutritional benefits of food enzymes and the growth of end-use applications of food enzymes in the food and beverage industry. Globally, the growth of bakery and dairy industries has led to a large-scale adoption of food enzymes for various applications.
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The report "Food Enzymes Market by Type (Carbohydrase, Protease, Lipase), Application (Beverage, Processed Food, Dairy, Bakery, Confectionery), Source (Plant, Microorganism, Animal), Form (Lyophilised Powder, Liquid), & by Region - Global Forecasts to 2021", The market for food enzymes is projected to reach USD 2.94 Billion by 2021, at a CAGR of 7.4% between 2016 and 2021.
Browse 84 market data Tables and 52 Figures spread through 169 Pages and in-depth TOC on "Food Enzymes Market by Type (Carbohydrase, Protease, Lipase), Application (Beverage, Processed Food, Dairy, Bakery, Confectionery), Source (Plant, Microorganism, Animal), Form (Lyophilised Powder, Liquid), & by Region - Global Forecasts to 2021"
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Processed foods projected to be the fastest-growing application of the food enzymes market
The processed foods application of food enzymes is expected to grow at a comparatively higher CAGR than other applications. The processed foods segment is growing due to increasing applications of food enzymes in food processing procedures and rising awareness about enzymatic benefits of food enzymes among consumers.
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The bakery segment has been estimated to lead the market in terms of value mainly due to the wide application of food enzymes in baking. It is followed by dairy applications in terms of market size.
Carbohydrase projected to be the largest type of food enzymes in terms of market size
Carbohydrase accounted for the largest market share in the food enzymes market in 2015 and is projected to be the largest type of food enzymes during 2016–2021. Carbohydrase comprises amylase, cellulose, pectinase, lactase, and some other enzymes which form vital ingredients in food and beverages consumed daily.
Amylase is mainly used in industries because of its cost effectiveness, less time-consuming processes, and as it is easy to modify and optimize the manufacturing process. Cellulase is mainly used in the juice, dairy, and alcohol industries, and other food & beverage-processing industries.
Lactase is one of the fastest-growing types of carbohydrase food enzymes due to increasing number of lactose-intolerant consumers.
Latin America projected to be the revenue pocket for the food enzymes market
The North America region was the largest market for food enzymes in 2015, in terms of value, followed by Europe and then Asia-Pacific in terms of market size. The Latin American region is projected to be the fastest-growing market for food enzymes during the forecast period.
The markets in Latin American and Asia-Pacific regions are driven by the increasing consumer awareness and growing end-use applications such as processed foods, dairy, beverages, and confectionery.
The study includes the profiles of leading companies such as E. I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Novozymes A/S (Denmark), and Chr. Hansen A/S (Denmark). Other players include Dyadic International, Inc. (U.S.), Advanced Enzymes (India), Puratos Group (Belgium), and Amano Enzyme Inc. (Japan).
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