Pune, India, July 25, 2019 (GLOBE NEWSWIRE) -- Proteases Market Projected to grow at a CAGR of 6.3% during the forecast period (2018-2023), reveals the latest report by Market Research Future (MRFR).
Market Overview
Proteases refer to enzymes that are used extensively in the food & beverage industry. They help to break-down the peptide bonds present in proteins. Market Research Future (MRFR) has recently published an in-depth report on the global proteases market with a thorough analysis of the pertinent trends and factors that are likely to impact the market growth over the forecast period of 2017-2023. MRFR has projected a CAGR of 6.3% over the forecast period.
Growing demand for meat, dairy, and bakery products have propelled the growth of the proteases market. Proteases are used as an active ingredient in the production of these products. They help to add nutritional value to products and enhance the flavour of products. The use of proteases is directed towards targeted effects such as shelf life extension, dough enhancement, protein modification, and others. They are also added to increase strength, enhance extensibility, add volume, and others. In the bakery industry, proteases are used as dough relaxers to reduce mix times, reduce the ‘snapback’ in shaped/stretched doughs, and increase pan flow. Fast track urbanization, hectic lifestyle, and rise in disposable income have increased the demand for convenience food products, which is a key factor driving the market growth.
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Eco-friendly, non-toxic, and non-pathogenic characteristics of proteases act as an advantage for market growth. Proteases are available in different forms and in natural variants such as papain which has garnered huge success for the market. Growing health consciousness among consumers regarding the consumption of chemical enzymes have increased the demand for natural proteases. Conversely, market growth might be hindered by stringent regulations that prohibit the use of proteases.
Key Players and Industry Buzz
Chr. Hansen Holding A/S (Denmark), Dyadic International, Inc. (U.S.), Specialty Enzymes & Biotechnologies Co. (U.S.), Koninklijke DSM N.V. (the Netherlands), E. I. du Pont de Nemours and Company (U.S.), Associated British Foods Plc (U.K), Novozymes A/S (Denmark), Advanced Enzyme Technologies Limited (India), Amano Enzyme Inc. (Japan), and Biocatalysts Limited (U.K) are the key layers in the proteases market.
Segmentation
The global Proteases Market has been segmented based on type, form, and application.
By type, the market has been segmented into trypsin, renin, pepsin, bromelain, papain, alkaline protease, and others. The renin segment is leading the market while the alkaline protease segment is the second-largest market on account of rising use in the food & beverage, meat, and dairy products.
By form, the market has been segmented into liquid, powder, and others. The powder segment accounts for the largest share of the market due to the heightened use of food products to improve the shelf life of the products.
By application, the proteases market has been segmented into bakery & confectionery, beverages, sweet & savory snacks, dairy & frozen desserts, animal feed, and others. The bakery & confectionery segment accounts for the most significant share of the market.
Browse the market data and Information spread across 110 pages with 25 data tables and 16 figures of the report “Proteases Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/proteases-market-5283
Regional Analysis
Region-wise, the global Proteases Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the largest market for proteases. Escalated demand for dairy and meat products in the region, especially in the US has spurred the demand for proteases. The presence of major key players in the region also supports the growth of the market. The region witnesses a large number of new product launches which has helped the market grow.
Europe is the second-largest market for proteases. Increasing demand for cheese, meat products, and beverages in the region are driving the growth of the market. Europe has an established bakery industry and witnesses continuous demand from the consumers, which leads to aggravated demand for proteases.
APAC is anticipated to be the fastest-growing market for proteases. Rising disposable income of consumers has increased the sales of bakery, confectionery, meat, dairy, and other products which have reflected favourably on the growth of the proteases market.
Browse Related Reports:
Food Enzymes Market Global Information by Type (Carbohydrases, Protease, Lipase), Source (Plant, Animal, Microorganism), Application (Bakery & Confectionery, Snacks, Dairy & Frozen Desserts, Oils, Fats & Spreads, Beverages), And Region Forecast till 2023
https://www.marketresearchfuture.com/reports/global-food-enzymes-market-1794
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