The global dairy enzymes market is projected to register a CAGR of 7.37% during the forecast period (2022-2027).
The COVID-19 has had a slighly unfavorable influence on the dairy enzymes market. Reduced intake of dairy products like cheese and flavored yogurt had a significant impact on the need for related enzymes in the longrun. Furthermore, regulations on the food service business have harmed demand indirectly. On the other hand, market players are likely to seek ways to limit their losses during COVID-19. Growing applications of dairy enzymes in forfified and functional foods and beverages could prove beneficial to market players as customers seek immunity boosting, tailored nutrition solutions during the pandemic.
The market is driven by the increasing consumption of cheese, yogurt, and other dairy products in the developing markets. Increasing competition in the market, for staying ahead in the dynamic dairy sector, requires the best technology and expertise to remain flexible, efficient, and profitable.
The rising demand for various dairy-incorporated processed foods is also boosting the market's sales. With the growing concern about lactose intolerance, there is an increasing application of dairy enzymes in low-lactose products.
The high prevalence of digestive disorders has boosted the demand for fermented milk products across the world. Yogurt is an example of a probiotic milk drink that is available in both drinkable form as well in the traditional form - in different flavors, which makes it one of the most preferred food products, by consumers who are seeking products that provide benefits to their digestive health. Probiotics are a driving force within the booming digestive health products category, and they are being consumed by people of all age groups. The progressive inclination of the consumers toward digestive health-oriented products has kept probiotic food products as a requisite. For Instance, According to ITC Trade Map, Imported volume of yogurt in the United Kingdom in 2021 accounted for 282980 tons, as compared to 219085 tons in 2019. The ongoing trends of healthy hydration and healthy snacking are the other important factors that are augmenting the sales of fermented dairy products across different regions. This, in turn, will boost the market growth.
The market for dairy enzymes in the Asia-Pacific region is in its initial growth stage. This is majorly attributed to the changing food habits of the people, including the comsumption of dairy products for breakfast. Products, like yogurt drinks, are experiencing a growing trend in the Asia-Pacific market, majorly due to their convenience. The presence of drinkable yogurts and their growing popularity are expected to bridge the yogurt consumption gap created in the past couple of years, to some extent. The heavy competition in the market, due to the presence of various large and small players, including several regional players, has led to a huge number of products in the market. This, in turn, has developed the Asia-Pacific region into a competitive market.
The global dairy enzymes market is a fragmented one, with various global and regional players. The active companies are involved in new product developments, expansions, and acquisitions, in order to keep up with the competition. Some of the major players are expanding their global presence, by acquiring manufacturers in foreign countries.Some of the major players operating in the dairy enzymes market are Chr.Hansen Holding, DuPont, Novozymes, Amano Enzyme, Kerry Group. These players are focusing on leveraging opportunities posed by emerging markets to expand their product portfolios, so that they can cater to the requirements of various segments. Moreover, companies have adopted strategic partnerships as their key strategy to increase their geographical presence and customer base.
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The COVID-19 has had a slighly unfavorable influence on the dairy enzymes market. Reduced intake of dairy products like cheese and flavored yogurt had a significant impact on the need for related enzymes in the longrun. Furthermore, regulations on the food service business have harmed demand indirectly. On the other hand, market players are likely to seek ways to limit their losses during COVID-19. Growing applications of dairy enzymes in forfified and functional foods and beverages could prove beneficial to market players as customers seek immunity boosting, tailored nutrition solutions during the pandemic.
The market is driven by the increasing consumption of cheese, yogurt, and other dairy products in the developing markets. Increasing competition in the market, for staying ahead in the dynamic dairy sector, requires the best technology and expertise to remain flexible, efficient, and profitable.
The rising demand for various dairy-incorporated processed foods is also boosting the market's sales. With the growing concern about lactose intolerance, there is an increasing application of dairy enzymes in low-lactose products.
Key Market Trends
Increasing Digestive Heath Concerns are Boosting the Demand for Probiotic Products
The high prevalence of digestive disorders has boosted the demand for fermented milk products across the world. Yogurt is an example of a probiotic milk drink that is available in both drinkable form as well in the traditional form - in different flavors, which makes it one of the most preferred food products, by consumers who are seeking products that provide benefits to their digestive health. Probiotics are a driving force within the booming digestive health products category, and they are being consumed by people of all age groups. The progressive inclination of the consumers toward digestive health-oriented products has kept probiotic food products as a requisite. For Instance, According to ITC Trade Map, Imported volume of yogurt in the United Kingdom in 2021 accounted for 282980 tons, as compared to 219085 tons in 2019. The ongoing trends of healthy hydration and healthy snacking are the other important factors that are augmenting the sales of fermented dairy products across different regions. This, in turn, will boost the market growth.
Asia-Pacific Region is Exhibiting A Growing Demand
The market for dairy enzymes in the Asia-Pacific region is in its initial growth stage. This is majorly attributed to the changing food habits of the people, including the comsumption of dairy products for breakfast. Products, like yogurt drinks, are experiencing a growing trend in the Asia-Pacific market, majorly due to their convenience. The presence of drinkable yogurts and their growing popularity are expected to bridge the yogurt consumption gap created in the past couple of years, to some extent. The heavy competition in the market, due to the presence of various large and small players, including several regional players, has led to a huge number of products in the market. This, in turn, has developed the Asia-Pacific region into a competitive market.
Competitive Landscape
The global dairy enzymes market is a fragmented one, with various global and regional players. The active companies are involved in new product developments, expansions, and acquisitions, in order to keep up with the competition. Some of the major players are expanding their global presence, by acquiring manufacturers in foreign countries.Some of the major players operating in the dairy enzymes market are Chr.Hansen Holding, DuPont, Novozymes, Amano Enzyme, Kerry Group. These players are focusing on leveraging opportunities posed by emerging markets to expand their product portfolios, so that they can cater to the requirements of various segments. Moreover, companies have adopted strategic partnerships as their key strategy to increase their geographical presence and customer base.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Novozymes
- Chr. Hansen Holding A/S
- DuPont
- Amano Enzyme Inc.
- Kerry Group PLC
- Advanced Enzyme Technologies Limited
- Nature BioScience Pvt Ltd
- Megazyme Ltd
- Fytozimus Biotech
- Enmex
Methodology
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