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

South America Food Enzymes Market is projected to grow at a CAGR of 7.2% during the forecast period 2020-2025.

• The growing demand for processed foods and increasing health consciousness in the people is driving the food & beverages industry which in turn is driving the food enzymes market. Food enzymes are a major food additives which convert complex molecules in to simpler ones in our diet.
• Furthermore, the rising disposable incomes, demand for convenience foods and increasing awareness of nutrition enabled products is expected to drive the market for food enzymes in these countries. High meat consumption in the South American countries requires increased market for digestive enzymes.

Key Market Trends

Rising Consumption of Processed Food

A rapidly rising population and greater levels of urbanization have boosted demand for processed food products in the region, thus driving the demand for food enzymes in South America. Food ingredient manufacturers are looking at developing markets of the region as a new market space and introducing products the consumers are not aware of. Currently, basic infrastructure facilities, such as food processing infrastructure, transportation, cold chain, and unreliable power supplies are growing, which are boosting the food processing and enzymes market in the region.

Bakery holds a Prominent Share in the Market Studied

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 South American countries. Colombia is the fastest-growing country for bakery foods, followed by Argentina and Chile. In Argentina, 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.

Competitive Landscape

Some of the players who have been profiled in this South America Food Enzymes report include AB Enzymes, Novozymes, Cargill Inc, Kerry Group, Chr. Hansen among others. The market sees opportunities for growth in emerging and developed nations as food enzymes reduce water, energy and wastage costs. The market needs amendments to develop a set of guidelines to regulate the market.

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