The Chinese food enzymes market is expected to register a CAGR of 5.6% during the forecast period (2020 - 2025).
- The shift in the trend toward healthy food products, coupled with higher productivity, is expected to augment the growth of food enzymes market in the country. The increasing per capita income, coupled with product penetration, is anticipated to positively impact food enzyme's demand, thereby augmenting the market growth.
- New food enzymes applications in the markets, such as protein fortification, are expected to prompt the growth of the food enzymes market and create lucrative opportunities for industry participants. Moreover, technological innovation and upgradation are expected to drive the market growth over the forecast period.
Key Market Trends
Growing Popularity of Specialty Ingredients
Specialty ingredients are the most important products, which guarantee the shelf life of the vast range of processed foods. They range from a wide variety of macro ingredients, such as fibers, carbohydrates, fats, and specific proteins, to other micro-ingredients, including minerals, vitamins, and enzymes. They typically perform various functional activities to enhance the quality and taste of the products. The health- related, nutritional, and technological functions of these products make the diet pleasant for consumption, tasty, safe, healthy, and even affordable. Manufacturers are focusing on providing all-natural specialty ingredients that increase the shelf-life of the product and enable them to label their products as “100% all-natural”, addressing consumer demand for “clean labels”. Functional food ingredients, including enzymes, are the dominant specialty ingredients that are used in a wide range of applications. Moreover, they are growing at a robust pace.
Rising Utilization in Baking Applications
The key drivers of growth of the baking enzymes market include the declining use of emulsifiers, uncovering health and nutritional value,s and high disposable income among consumers. Bakers are increasingly using enzymes to improve the softness, moistness, and shelf life of their products. The adoption of bakery enzymes for bread accounts for relatively high revenue share. Moreover, their growing applications in cakes and pastries are opening a wide window of opportunities for market players. Nowadays, consumers increasingly embrace convenient foods, like bread. Thus, realizing the challenges in fulfilling all consumer needs, from improving texture to longer-lasting freshness, the market players are directing their investments toward product innovation.
The Chinese food enzymes market is fragmented, with a large number of players involved in the market. The active companies are involved in new product developments, expansions, mergers and acquisitions, and partnerships, in order to sustain the market competition. The key players in the market are Kerry Group, Novozymes, Koninklijke DSM NV, Chr. Hansen Holding A/S, and Amano Enzymes Inc.
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1.2 Scope of the Study
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.2 By Application
5.2.3 Dairy and Frozen Desserts
5.2.4 Meat, Poultry and Seafood Products
6.2 Market Position Analysis
6.3 Company Profiles
6.3.2 Chr. Hansen Holding A/S
6.3.3 Kerry Group
6.3.4 Jiangsu Boli Bioproducts Co., Ltd.
6.3.5 Koninklijke DSM N.V.
6.3.6 Amano Enzymes