Global Food Enzymes Market to be Driven by the changing consumer lifestyle and inflating disposable income in the Forecast Period of 2023-2028

The new report by EMR titled, ‘Global Food Enzymes Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global food enzymes market, assessing the market based on its segments like Carbohydrase, Protease, Lipase and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2020): USD 2 billion
Forecast CAGR (2023-2028): 5.3%
Forecast Market Size (2026): USD 2.7 billion

Changing consumer lifestyles and disposable income, especially in emerging economies, are driving the global food enzymes market. Manufacturers are focusing on the production of goods with high nutrition content and great taste as a result of increasing customer health awareness.

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Because of its increased use in cheese and yoghurt fermentation, the lipase section, among others, is expected to rise at the fastest CAGR during the forecast period. It’s also used in the bakery, dairy, and fat and oil industries. The thriving food and beverage industry is assisting this segment’s development, which in turn is assisting the overall growth of the food enzymes industry.

Industry Definition and Major Segments

Food enzymes are enzymes that are found in raw foods and are responsible for beginning the digestive process when eaten. Food enzymes serve as a catalyst, breaking down nutrients such as vitamins, fats, and other compounds into simpler forms, facilitating good digestion even further. It may improve the flavour, texture, and scent of drinks, baked goods, and dairy products. It’s used to keep goods fresh, coagulate them, and tenderise them.

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The different sources of the product are:

Microorganisms
Bacteria
Fungi
Plants
Animals

The various types of the product available in the market are:

Carbohydrase
- Amylase
- Cellulase
- Lactase
- Pectinase
- Others
Protease
Lipase
Others

On the basis of formulation, the industry is divided into:

Powder
Liquid
Others

On the basis of application, the food enzymes market is divided into:

Beverages
Processed Foods
Dairy Products
Bakery Products
Confectionery Products
Others

The report also covers the regional food enzymes markets like:

North America
Europe
the Asia Pacific
Latin America
the Middle East and Africa.

Market Trends

The growing use of food enzymes in processed foods and high-quality food items is driving the global demand for food enzymes. Inflationary income levels, changing consumer lifestyles, and an increasing preference for processed foods all help the industry. Over the forecast period, the market is expected to benefit from increasing urbanisation and the widespread availability of food enzymes and derived goods.

Food enzymes are used in the manufacture of bakery products such as bread, biscuits, pastries, doughnuts, and rolls because they serve as a catalyst for biochemical reactions, enhancing product consistency. One of the most important markets for food enzymes is bakery products. Furthermore, the overall food enzymes market is experiencing increased demand as a result of the growing demand for environmentally friendly manufacturing processes.

Key Market Players

The major players in the market are Amway Corp., Kerry Inc., Puratos, BASF SE, Amano Enzyme Inc. and Bioseutica. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.