Dublin, May 27, 2024 (GLOBE NEWSWIRE) -- The "Global Food Enzymes Market Report by Type, Source, Formulation, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global food enzymes market has shown a promising growth trajectory, achieving a valuation of USD 3.6 billion in 2023. With a projected Compound Annual Growth Rate (CAGR) of 6.42%, the market is expected to reach USD 6.3 billion by the year 2032. This growth is largely fueled by the expanding food processing sector, rising consumer health consciousness, and significant strides in biotechnological innovations.
Enzyme Applications Spur Growth
The primary function of food enzymes such as amylase, protease, and lipase — which catalyze biochemical reactions — is known for enhancing food taste, texture, and nutritional value. The prevalent use of these enzymes in bread, cheese, and beverage production stands testament to their integral role in food technology. Furthermore, the demand for nutrient-dense, high-quality food and beverage products is witnessing an upswing, creating a surge in the food enzymes market.
The insights from the report highlight the role of enzymes in modern food and drink manufacturing, notably within the context of juice extraction and wine production. With recent advancements, enzymes have become more efficient and targeted, a development that has undoubtedly contributed to market expansion.
Consumer Preferences and Health Awareness
Consumer trends indicate a marked preference for processed food owing to lifestyle changes, prompting manufacturers to innovate with enzyme applications for better shelf life, texture, and flavor. Increased consumer focus on health and wellness has also steered the market towards enzymes that improve the nutritive value of food, enabling the digestion of dairy for lactose-intolerant individuals and the breakdown of fiber in fruits and vegetables.
Regulatory bodies such as the FDA and EFSA have standardized the inclusion of food enzymes, ensuring consumer safety and bolstering market confidence. With this stringent regulatory oversight, consumers and manufacturers alike can trust the quality and safety of food enzymes used within the industry.
Regional Insights and Industry Analysis
The report offers a granular analysis of the market based on types, sources, formulation, and applications of food enzymes. Microbial sources have emerged as market leaders due to their adaptability across a range of conditions. Also, powder formulations have outpaced other forms due to their stability and ease of transport and storage.
The North American region maintains the largest market share, attributed to its robust food and beverage industry and innovative biotechnological landscape. The strong regulatory framework in this region further consolidates its position in the global market.
Market players are zeroing in on advancing enzyme formulations in alignment with health concerns and regulatory standards. The competitive landscape analysis indicates a strategic focus on mergers, acquisitions, and expansion into emerging markets. Additionally, the trend towards e-commerce is enhancing the distribution networks of key players in the food enzyme sector.
Overall, the global food enzymes market is poised for a significant growth period, with consumer preferences and cutting-edge biotechnology driving market confidence and expansion.
As the industry evolves, the focus remains on improving food quality, safety, and sustainability — factors that will undoubtedly shape the trajectory of market growth in the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $3.6 Billion |
| Forecasted Market Value (USD) by 2032 | $6.3 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Report Segmentation
Breakup by Type:
- Carbohydrase
- Amylase
- Cellulase
- Lactase
- Pectinase
- Others
- Protease
- Lipase
- Others
Breakup by Source:
- Microorganisms
- Plants
- Animals
Breakup by Formulation:
- Powder
- Liquid
- Others
Breakup by Application:
- Beverages
- Processed Foods
- Dairy Products
- Bakery Products
- Confectionery Products
- Others
Companies Featured
- DuPont de Nemours
- Amway
- BASF
- DSM
- Novozymes
- Chr. Hansen
- Kerry Group
- Biocatalysts
- Puratos Group
- Advanced Enzyme Tech
- Sequence Biotech
- Amano Enzyme
- Aum Enzymes
- Bioseutica
- Dyadic International
For more information about this report visit https://www.researchandmarkets.com/r/4orro5
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