The global food enzymes market is forecasted to grow at a CAGR of 4.78% during the forecast period (2020 - 2025).
Key Highlights
- The demand for packaged and processed 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 the nutritional content intact and maintain the shelf life.
- Apart from this, the increasing penetration of organized retail in urban and rural centers globally drive the food enzymes market. The environment-friendly production process, waste reduction and energy saving in the food industry, and increased demand in food and feed industries are driving the market.
Key Market Trends
Increase of Food Enzyme Usage in Bakery Applications
Bakery products consist of several products like bread, pastries, doughnuts, and rolls. Food enzymes act as a catalyst for biochemical reactions that offer quality improvements in bakery products. The bakery is the largest application market for food enzymes. Bakery products are prominent in North America and Western Europe. Asia-Pacific is the fastest-growing region for bakery foods, with Australia, India, and China being the main drivers. In Australia, there is an increase in demand for Food enzymes in bakery applications due to restrictions in the use of chemical additives, especially in the manufacture of bread and other fermented products.
North America Emerges as the Market Leader
North America is the largest market for enzyme applications in food industries. High consumption of meat and meat products in the region is one of the key factors augmenting the food enzymes market. The United States is the market leader of enzyme production and consumption at the regional and global levels attributed to increased expenditure in premium quality products and consumer preference for processed foods incorporated with naturally sourced ingredients.
Competitive Landscape
The global food enzyme market is fragmented attributed to a large number of players involved in the market. Active companies involved in new product development, expansion, and acquisition, to sustain with the market competition. Some of the major players are expanding their global presence by acquiring manufacturers in foreign countries. While companies such as DuPont, are investing in marketing and branding to increase their product promotion and achieve a strong sale.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
LOADING...
