Outlook on the Food Enzymes Global Market to 2026 – Increasing Demand for Processed Food is Driving Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Food Enzymes Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global food enzymes market is projected to grow at a CAGR of 7.27% to reach US$3.148 billion by 2026, from US$1.926 billion in 2019.
Food enzymes are enzymes that are suitable for human consumption and are utilized by the food industry throughout food manufacturing to assist enhance food safety and quality, as well as process efficiency. They are widely used in the production, processing, preparation, and treatment of a variety of food items. Baking, fruit juice, cheese production, and brewing are among industries that use enzymes.
The rise in demand for processed foods is likely to boost the food enzymes industry. Furthermore, technological developments such as enzyme engineering and the introduction of genetically modified enzymes have helped the expansion of the food industry.
Food enzymes are crucial in all aspects of food processing, from protein to starch. Furthermore, they are utilized to enhance raw material processing for dairy and alcohol fermentation. Baking is another notable sector in which enzymes play an essential role. Thus, factors such as the multifunctional advantages of food enzymes in a variety of applications and technological advances to minimize chemical usage all contribute to the market growth. However, a limited temperature and pH operational range may limit market expansion.
North America holds the dominant share of the food enzymes market. During the projected period, however, Asia-Pacific is expected to earn a considerable market share in the global food enzyme market. The immobilized enzyme technology for food applications has gained significant popularity in recent years. Immobilized enzyme technology improves food enzyme properties such as slow reaction rate, short shelf life, and operational stability.
Growth Factors
Increasing demand for processed food
Global demand for processed foods is increasing, owing primarily to expanding economies in Asia. The significant expansion of the processed food sector is mostly due to China and India. The Indian food and grocery market is the world’s sixth-largest, according to the Indian Brand Equity Foundation, and its production is anticipated to reach US$ 535 billion by 2025-26. The Indian food processing sector accounts for 32% of the total food market, is a major industry, and ranks fifth in terms of output, consumption, export, and anticipated growth.
Furthermore, according to Food export, China is the fifth-largest market for US processed food exports, totaling about US$1.7 billion in 2020, a 12 % rise over the previous year. The middle-class population is growing, and rising disposable incomes, along with a hectic schedule, contribute to the market expansion. Food enzyme applications increase the freshness of end goods, extending the shelf life of convenience foods while retaining flavor, color, and texture.
Restraints
Restricted temperature and pH operational range
The activity of food enzymes is heavily affected by environmental factors. A reduction in temperature dramatically reduces the reaction rate, whereas thermal agitation degrades the food enzyme structure, rendering it non-functional. Varying the pH outside of the food enzyme’s operating range decreases enzyme activity and can eventually lead to irreversible denaturation.
Impact of COVID-19 on the Food Enzymes Market
The COVID-19 pandemic put unforeseen strains on food systems, posing a slew of critical challenges. COVID-19 is expected to have a considerable influence on the food enzyme market since the current pandemic has highlighted the need for safe, healthy, and nutritious eating. The pandemic had put enormous strains on food supply systems, causing bottlenecks in farm labor, processing, transportation, and logistics, as well as significant swings in demand.
The majority of these interruptions are the consequence of regulations put in place to slow the spread of the virus. In the face of these challenges, food supply systems have shown extraordinary resilience. While ingredient sales are distributed across nations, prominent players in the food enzymes industry have begun to develop regional production. R&D and sales departments are also improving supply chains for raw material distribution.
Market Segmentation:
By Type
- Amylase
- Protease
- Lipase
By Source
- Microorganisms
- Plants
- Animals
By Application
- Beverages
- Processed Food
- Dairy Products
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- France
- Germany
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- Japan
- China
- India
- Thailand
- Taiwan
- Indonesia
- Others
Companies Mentioned
- AB Enzymes
- Advanced Enzyme Technologies
- DSM
- Novozymes
- Megazyme
- Biocatalysts
- Dupont
- Amano Enzyme Inc.
- Kerry Inc.
- Lumis
For more information about this report visit https://www.researchandmarkets.com/r/pg5amd
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