Australia Food Enzymes Market - Growth, Trends, and Forecast (2020-2025)

The Australian food enzymes market is projected to register a CAGR of 6.8% during the forecast period (2020-2025).

• The key factors driving the market studied include innovations in food technology in the country and the growing awareness about the betterment of product quality when enzymes are used. PH levels highly affect the enzymes. For example, extremely high or low pH values may result in a complete loss of activity for most enzymes. The optimum pH level varies greatly from one enzyme to another and the location where the enzyme is working, thus, resulting in the failure of producing the desired product.
• One of the major drivers of the market studied is the use of food enzymes for fermentation, as the food and beverage industry offers a variety of fermented foods, such as yogurt, tempeh, bread, and beverages (such as alcoholic drinks).
• The genetically modified enzymes are usually associated with long-term health effects, which resulted in a setback for the growth of the industry. However, as the food safety authorities are issuing standards for enzyme consumption, the consumers have started accepting the products treated with GM enzymes.

Key Market Trends

Carbohydrases Holds the Largest Market Share

Carbohydrases can be classified into amylase, cellulase, xylanase, and pectinase, based on the specific class of carbohydrase that is required to break down the cell walls of different plants, made up of different structural carbohydrates. Therefore, the players operating in the market studied are intensively producing carbohydrase to satiate the consumer demand for a better enzyme. Additionally, manufacturers are engaged in the development of a cocktail of carbohydrase enzymes to produce healthier foods and enhance the value of food processing byproducts. The ingredient caters to the market studied with its extensive benefits, including increasing the energy value of cereals and cereal byproducts, improving nutrient release in full-fat vegetable protein seeds and in vegetable protein meals, and enhancing the digestibility of starch in corn-based diets, among others.

Beverage Segment is Likely to Drive the Market

Enzymes are a boon to the beverage industry, as the reactions they catalyze are indispensable for the latter. The beverage segment comprises food enzyme application in alcoholic and non-alcoholic beverages, with carbohydrase and lipase as the major categories of enzymes. Additionally, enzymes provide three major functions, namely, the formation of sugar that is used during fermentation, viscosity control, and chill-proofing for beer. In the brewing industry, the major enzymes used include cellulose, alpha-amylase, and beta-glucanase for the liquefaction, clarification, and supplementing of malt enzymes. Some of the key benefits of brewing enzymes include better malt separation, extraction yield, and beer filtration and stabilization.

Competitive Landscape

The Australian food enzymes market is concentrated among major international players, while the domestic players continue to face tough competition to gain market share. Novozyme, DSM, DuPont, and Kerry Group are the dominant players in the market studied. Obtaining approvals for the use of enzymes in food products is the major factor affecting the companies. Most of the players in the market studied are opting for new product launches as a key strategy to gain market share.

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