The Asia Pacific region is projected to be the fastest-growing market for dairy enzymes during the forecast period as its economic importance has increased in the last decade.
The report "Dairy Enzymes Market by Type (Lactase, Chymosin, Microbial Rennet, Lipase), Application (Milk, Cheese, Ice Cream & Desserts, Yogurt, Whey, Infant Formula), Source (Plant, Animal & Microorganism), and Region - Global Forecast to 2022", The dairy enzymes market is estimated at USD 519.4 Million in 2017, and is projected to reach USD 734.6 Million by 2022, at a CAGR of 7.18% during the forecast period. The market is driven by factors such as increasing consumption of dairy products such as cheese and yogurt, growing demand for low-lactose and lactose-free dairy products, and environmental benefits associated with enzymes.
Browse 67 market data Tables and 34 Figures spread through 119 Pages and in-depth TOC on "Dairy Enzymes Market - Global Forecast to 2022"
Chymosin is estimated to be the largest segment, by type, in 2017.
Based on type, the dairy enzymes market has been segmented into lactase, chymosin, microbial rennet, lipases, and other dairy enzymes. The chymosin segment is estimated to account for the largest share in 2017.
Though its major application is in cheese production, chymosin is also used in halal, organic, and GMO-free products. As the consumption of cheese is increasing, the market for chymosin is growing substantially, especially in developing countries.
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The animal & microorganism segment, by source, is estimated to account for a larger share of the dairy enzymes market in 2017.
The animal & microorganism segment is estimated to account for a larger share of the global dairy enzymes market in 2017. They are the most popular source of dairy enzymes preferred by manufacturers due to the process of extraction; also, comprehensive research on animals & microorganisms is easier to perform and more cost-effective as compared to plant-sourced dairy enzymes.
The cheese segment is estimated to be the largest application of dairy enzymes in 2017.
The cheese segment accounted for the largest share of the global dairy enzymes market in 2017. Various microbes such as Aspergillus oryzae, Irpex, and Rhizomucor pusillus are extensively used for rennet production during the cheese making process.
Most cheese producers expedite the curdling process with rennet, lactic acid, or plant-based enzymes from wild artichokes, fig leaves, safflowers, or melons. Other than plants and microbes, enzymes are also extracted from young ruminants.
North America is estimated to dominate the dairy enzymes market in 2017.
In 2017, the North American region is estimated led the global market for dairy enzymes. Factors such as the presence of major players in the US, high awareness about food and dietary supplements, and significant demand for dairy enzymes from the feed industry will drive the market growth in North America.
This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as BASF (Germany), Solvay (Belgium), Ajinomoto (Japan), Clariant (Switzerland), and Albion Laboratories (US).
Other players include Shijiazhuang Donghua Jinlong Chemical (China), Galaxy Surfactants (India), Novotech Nutraceuticals (US), Schaumann (Germany), Dunstan Nutrition (New Zealand), Aliphos (Belgium), Chaitanya Chemicals (India), and Provit (Poland).
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