Food Enzymes Market to Reach $3.1 Billion by 2026, at a CAGR of 6.4%

Northbrook, USA, 2021-Jul-21 — /EPR Network/ — The report “Food Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Source, Application (Food & Beverages), Formulation, and Region(North America, Europe, Asia Pacific, and South America) – Global Forecast to 2026” The food enzymes market is estimated to be valued at USD 2.2 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 6.4%, in terms of value. The growing demand for a diverse range of food products, clean label trend, and increase in disposable income are the factors that are projected to drive the growth of the food enzymes market globally.

Report Objectives:

• To describe and forecast the food enzymes market, in terms of type, source, application, formulation, and region
• To describe and forecast the food enzymes market, in terms of value, by region–North America, Europe, Asia Pacific, and South America—along with their respective countries
• To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
• To study the complete value chain of the food enzymes market
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the food enzymes market
• To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders
• To analyze strategic approaches, such as acquisitions & divestments, expansions, product launches & approvals, and agreements, in the food enzymes market

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COVID-19 Analysis:

The impact of COVID-19 food enzymes is expected to be significant, as the current pandemic has highlighted the significance of safe, healthy, and nutritious eating. While ingredient sales span across the countries, key companies in the food enzymes market have also begun to establish regional production. R&D and sales department and are also optimizing supply chains for the distribution of raw materials. Amidst the COVID-19 outbreak, food ingredient companies are facing significant challenges to address the increased demand for food enzymes to include changing tastes and preferences. A rapid and unexpected spike in demand for functional foods during the pandemic resulted in manufacturers, suppliers, and retailers struggling to ensure a continued supply of raw materials in the market. Disruptions in the supply chain during the COVID-19 lockdown across the countries were challenging for the market.

Restraints: Restricted temperature and pH operational range

The action of food enzymes is largely influenced by the surrounding environmental conditions. A decrease in temperature causes the reaction rate to drop drastically, while thermal agitation denatures the food enzyme (deteriorates the food enzyme structure), thereby making it non-functional. Varying the pH outside the operational range of the food enzyme also reduces the enzyme activity and can ultimately lead to permanent denaturation. Food enzyme manufacturers are striving to produce enzymes that can operate in a wide temperature and pH range; however, there is still a long way to go if enzyme use has to be universally implemented in all food & beverage manufacturing processes.

By application, the food segment is projected to account for the largest share in the market during the forecast period

The demand for food enzymes is increasing significantly due to the increasing application of enzymes in the food & beverage industry. The food & beverage applications considered for this study include meat processing, dairy products, bakery products, nutraceuticals, and other food products (such as processed fruits & vegetables, processed food, and vegetable oil processing).   The process like enzymatic hydrolysis of yeast and vegetable proteins produces peptides and amino acids, which act as taste enhancers in soups, sauces, ready-to-eat meals, canned, and frozen food products. Due to these factors, enzymes in the food segment are having huge demand.

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The North American region dominated the food enzymes market with the largest share in 2020, whereas Asia Pacific is expected to witness the highest growth rate.

The food enzymes market in North America was dominant due to the increasing demand for enzymes in food applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the food & beverage industry one of the essential sectors in North America. However, the shift of food operations from developed regions, such as North America and Europe, to Asia Pacific, has further contributed to the growth of the food enzymes market in the Asia Pacific region.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen Holdings A/S(Denmark), Kerry Group (Ireland), Jiangsu Boli Bioproducts Co., Ltd. (China), Biocatalysts Ltd. (UK), Puratos Group (Belgium), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan), Enzyme Development Corporation (US), ENMEX, S.A. de C.V. (Mexico), Aumgene Biosciences (India), Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), and Antozyme Biotech Pvt Ltd (India).

Recent Developments:

• In April 2021, IFF (a part of DuPont) announced today the launch of Nurica enzyme in China, offering a new solution for dairy producers to create a premium product to fulfil consumer health needs while increasing profitability. Nurica is IFF’s latest innovation for the Chinese market and is marketed under the Danisco range of food ingredients.
• In March 2021, IFF announced the launch of Enovera 3001, an enzyme for the bakery industry in North America. It allows industrial bakers to formulate without compromising dough strength, texture or taste.
• In January 2021, DuPont Nutrition & Biosciences (DuPont) launched NovaGARD NR 100-G, part of the DuPont Danisco range of antimicrobials, keeps meat products safe and high in quality throughout shelf life in the Middle East and Africa (MEA).
• In November 2020, DuPont Nutrition & Biosciences (DuPont) has undertaken a new partnership between its Food & Beverage platform and the Institute for the Future (IFTF), the world’s leading futures organization. The collaboration seeks to drive far-sighted food and beverage innovation that anticipates shifts in market needs.