US is the market leader for enzyme production and consumption globally. It accounts for the 65% of the market share in North America.
The total enzyme market was estimated to be USD 351 million in 2015 and is expected to grow at a CAGR of 5.8%. The market is driven by the increased consumption of processed food products, increased expenditure in premium quality products and consumer preference for the natural ingredients used in the products.
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Increased Demand for Processed and Packaged Food
The demand for processed and packaged foods is growing with the need to provide food security and safety. However, due to complexities in the global food supply chain, there is a need to add food additives to keep intact the nutritional content and maintain the shelf life.
Apart from these reasons, the increasing penetration of organized retail in urban and rural centers globally seem to drive the need for food enzymes. The key restrains the market faces is in terms of unclear regulatory process and high research and development costs.
Food enzymes such as α-amylase, β-amylase and proteases play a major role since they are a key component in beer production. Enzymes play a vital role by increasing the volume of bakery products, leaven bread, allow the efficient utilization of raw materials, bleaching and strengthening of dough and improve the shelf life of bread and cakes.
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Carbohydrases Dominate the Market
The report is segmented based on enzymes types which include carbohydrases, proteases and lipases. Carbohydrases dominate the market followed by proteases and lipases.
The lipase market is growing with the fastest CAGR of 6.4%. Food enzymes find major application in Bakery, Dairy & Frozen products, Enzymes, Meat products, Oils and Fats among others.
Bakery is the largest application market, as food enzyme are used to improve dough stability and shelf life of end products. Increased use of enzymes in cheese processing is driving the use of enzymes in dairy industry, which is the second largest application market followed by the beverages industry.
North America has the largest protease market with a share of 46%, followed by Europe with 22% and Asia-Pacific. In US, bakery accounts for the largest segment for enzyme consumption due to the increased demand of bread and bakery products in the region.
This is followed by its application in the dairy and beverages industries.
Major players: AB ENZYMES, NOVOZYMES, SUNSON INDUSTRY GROUP, CARGILL, TATE & LYLE, KERRY GROUP, DANISCO, PURATOS, CP KELCO
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Reasons to Access this Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
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