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

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  • 90 Pages
  • April 2020
  • Region: Argentina
  • Mordor Intelligence
  • ID: 5012139
Argentina Food Enzymes Market is anticipated to grow at a CAGR of 5.6% during the forecasted period(2020-2025).

The food enzyme market is witnessing rapid growth due to the increasing demand for processed food in the country and wide applications of the enzymes in the processed food industry are driving the market.

Innovation in food technology in the country and the growing awareness about better-quality products being manufactured, by utilizing enzymes, are further driving the market.

Apart from this, the increasing penetration of organized retail in urban and rural centers are also boosting the food enzymes market in Argentina.

Key Market Trends

Growing Demand For Specialty Enzymes

The consumers in Argentina have reduced their consumption of sugar, soft drinks, and beverages, over recent years. Specialty enzymes are mainly sourced from microorganisms and plants. They are used in various foods and beverages, baking, brewing, crafting alcohol, fruit and vegetable processing, grain alcohol, etc. Argentina is a potential market, greatly due to the economic growth and the shift of the consumers' preference toward healthy and value-added food products. Health-conscious consumers are inclined toward low-calorie and low-sugar beverages, with natural ingredients.

Growing Demand For Processed Meat In The Country

There is a growing demand for processed meat in the country. Over the past few years, the pork consumption in the country has grown by an average of 10% per annum and 65% in total, with the current per capita consumption at 17 kg driving the demand for processed pork products, presently. The growing demand for beef across various countries spiked prices in the domestic markets of Brazil and Argentina. Moreover, in 2019, the General Administration of Customs of China (GACC) granted permission for nine new Argentine beef plants to export frozen beef and chilled beef to China. Furthermore, owing to the rising demand for processed meat across the country, manufacturers operating in the global market are focusing on adopting strategic measures to expand their presence in the country.

Competitive Landscape

Argentina food enzymes market is a consolidated market with major players in the market holding a pominent market share. Companies operating in the market are expanding their product portfolios to cater a wider customer group.

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Table of Contents

1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
4.1 Market Drivers
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
5.1 By Application
5.1.1 Bakery
5.1.2 Confectionery
5.1.3 Dairy and Frozen Desserts
5.1.4 Meat Poultry and Sea Food Products
5.1.5 Beverages
5.1.6 Others
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Kerry Group
6.4.2 DuPont
6.4.3 DSM
6.4.4 Chr. Hansen Holding A/S
6.4.5 Novozymes
6.4.6 ABF Ingredients
6.4.7 ArgenBio
6.4.8 Groupe Souffiet(AIT Ingredients)

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Kerry Group
  • DuPont
  • DSM
  • Chr. Hansen Holding A/S
  • Novozymes
  • ABF Ingredients
  • ArgenBio
  • Groupe Souffiet(AIT Ingredients)