PORTLAND, Or, April 21, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Lipase Food Enzymes Market by Source (Microorganisms, Animals, and Others), Form (Powder and Liquid), and Application (Food & Beverage Processing, Animal Feed, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031". According to the report, the global lipase food enzymes market was valued at $417.4 million in 2021 and is projected to reach $787.6 million by 2031, registering a CAGR of 6.8% from 2022 to 2031.
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Prime determinants of growth
The rising demand for natural and clean-label ingredients in food products and rising health consciousness among consumers drive the lipase food enzymes market. However, high production costs and lack of awareness about the benefits of lipase enzymes restrict the market growth. On the other hand, the rise of veganism and vegetarianism presents lucrative opportunities for the market growth.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $417.4 Million |
| Market Size in 2031 | $787.6 Million |
| CAGR | 6.8% |
| No. of Pages in Report | 250 |
| Segments covered | Source, Application, Form, and Region. |
| Drivers | Increasing demand for convenience foods Rising health consciousness among consumers Growing food processing industry Growing demand for clean labels and natural ingredients in food products |
| Opportunities | Increasing demand for bakery products, dairy products, and meat products Rise of veganism and vegetarianism |
| Restraints | Stringent regulations and safety concerns related to the use of enzymes in food products High production costs Lack of awareness about the benefits of lipase enzymes |
Covid-19 Scenario
- The COVID-19 pandemic had a mixed impact on the global lipase food enzymes market.
- On one hand, the demand for convenience foods had increased as people spent more time at home and lookd for easy-to-prepare meals. This led to an increased demand for lipase enzymes in the production of these foods.
- On the other hand, the pandemic had disrupted supply chains and led to a decline in the food processing industry, which had a negative impact on the lipase food enzymes market.
- Additionally, the economic slowdown caused by the pandemic had reduced consumer purchasing power, leading to a decline in demand for some food products that require lipase enzymes.
The microorganisms segment to maintain its leadership status throughout the forecast period
Based on source, the microorganisms segment held the highest market share in 2021, accounting for nearly three-fourths of the global lipase food enzymes market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 7.0% from 2022 to 2031. Microorganisms, such as bacteria and fungi, are commonly used to produce lipase enzymes for use in food applications. These microorganisms are typically cultured under controlled conditions and the lipase enzymes are extracted and purified for use in food applications. Lipase enzymes produced by microorganisms are often preferred in the food industry due to their high purity, stability, and efficiency, as well as their ability to be produced on a large scale.
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The powder segment to maintain its leadership status throughout the forecast period
Based on form, the powder segment held the highest market share in 2021, accounting for nearly three-fifths of the global lipase food enzymes market and is estimated to maintain its leadership status throughout the forecast period. Powdered lipase food enzymes are commonly used in the food industry for a variety of applications, including flavor enhancement, texture modification, and fat reduction. The powder form of lipase enzymes is typically more stable and has a longer shelf life than liquid forms, making it a preferred option for many manufacturers. However, the liquid segment is projected to manifest the highest CAGR of 7.2% from 2022 to 2031. Liquid lipase food enzymes are used to enhance food flavor and make them simpler for kids to eat. Since these food enzymes are so simple and easily accessible, people are using them more frequently.
The food & beverage segment to maintain its leadership status throughout the forecast period
Based on application, the food & beverage segment held the highest market share in 2021, accounting for more than three-fifths of the global lipase food enzymes market and is estimated to maintain its leadership status throughout the forecast period. Lipase enzymes play a critical role in the food and beverage industry, helping manufacturers to improve the quality, flavor, and texture of their products. With the increasing demand for natural and clean label ingredients, lipase enzymes are expected to continue to play a significant role in the industry. However, the animal feed segment is projected to manifest the highest CAGR of 7.2% from 2022 to 2031. For feed to improve in quality and digestibility, lipase food enzymes must be added. In addition, supplementing the livestock with enzymes improves their overall health over time, lowers their mortality rate, and increases the amount of meat and milk products produced per animal at a very cheap cost.
North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global lipase food enzymes market and is likely to dominate the market during the forecast period. North America is a mature market with a high demand for processed and convenience foods. Lipase enzymes are widely used in the production of these foods to enhance their flavor, texture, and shelf life, driving demand for lipase enzymes in the region. Consumers in North America are increasingly concerned about the health and safety of the food they consume. As a result, there is a growing demand for natural and clean-label ingredients in food products, including lipase enzymes derived from non-GMO and organic sources. However, the Asia-Pacific region is projected to manifest the highest CAGR of 7.9% from 2022 to 2031. An important factor driving the Asia-Pacific lipase food enzymes market is the rise in demand for these food enzymes along with the region's rising beverage consumption, particularly alcoholic beverages.
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Leading Market Players: -
- Creative Enzymes
- Enzyme Development Corporation
- Infinita Biotech Private Limited
- Laboratoire Therascience Luxembourg
- AB Enzymes
- Advanced Enzymes
- Angel Yeast Co., Ltd.
- Antozyme Biotech Private Limited
- BASF SE
- Biocatalysts Limited
- Bioven Ingredients
- Chr. Hansen Holdings A/S
- Novozymes A/S
- Ultreze Enzymes Private Limited
- Yiming Biotechnology
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth. These factors include raw material prices, intense competition, end users, manufacturers, and suppliers. To understand the market, drivers, restraints, and opportunities are explained in the report.
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