Food Enzymes Market Estimated to Reach $1,798.9 Million By 2020
Browse 73 Market Tables, 15 Figures spread through 142 Pages and an in-depth TOC on “Food Enzymes Market (2015 - 2020)”
Enzymes are very useful catalysts in industrial processes as they perform specific reactions essential for increasing productivity; they have no technological function in the final food but do ensure the quality of the end product. Enzymes have played a key role in baking ever since humans learned making of bread. Food enzymes are vital processing aids for the baked goods industry (buns and bread, cakes, biscuits, snacks, pasta), delivering immense benefits to the food processors in terms of production process improvement and consistent product quality. Rising demand for healthy food and beverages coupled with increasing health awareness and growing population is driving the growth of the food enzymes globally. Penetration of packaged foods is very rapid in developing economies such as Latin America and APAC2013. This growth is projected to lend traction and boost market prospects in coming years.
Major enzyme providers such as Novozymes A/S (Denmark), Royal DSM (The Netherlands), DuPont (U.S.), AB Enzymes (Germany) and CHR Hansen (Denmark) have been active in innovation and launching new products. DSM launched a wide range of protease enzymes, with the aim of enhancing protein solubility, digestibility, functionality and taste profile of protein. Similarly, DuPont launched FIBERline enzymes to meet the needs of bakery industry. Enzymes are used in variety of applications including bakery, dairy, beverages and meat products. Bakery and dairy applications are the major end-use segments owing to their penetration in the packaged food industry.
North America is the dominant market for food enzymes and is estimated to reach $539.2 Million by 2020 at a CAGR of 3.6% during 2015-2020. High use of food enzymes in the food processing coupled with continuous innovation in terms of products and their functionalities puts North American market in the top position. Increasing demand for clean label products and growing awareness on nutritional and healthy food is set to drive the food enzymes market in most of the European nations.
The major players in this market include:
- Novozymes (Denmark)
- Royal DSM N.V. (The Netherlands)
- DuPont (U.S.)
- AB enzymes (Germany)
- CHR. Hansen (Denmark)
Food enzyme providers are continuously investing in developing and launching of product extensions to consolidate their market presence in particular end-use segments, especially in bakery and meat products category. Top five players account for approximately 60% of the total market. However, emerging companies have been offering products with enhanced functionalities which may impact the market position of these top companies.
The global food enzymes market report provides detailed analysis of the different enzymes, sources and end-use segments.
Various end-use applications included in the report are:
- Dairy Products
- Meat products
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry.
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