Portland,OR, Nov. 21, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global food enzymes market accounted for $1.94 billion in 2018 and is projected to garner $3.05 billion by 2026, growing at a CAGR of 5.6% from 2019 to 2026.
Rise in demand for processed food, increasing trend of immobilized enzyme technology, and advent of clean label food enzymes due to rise in concern of millennials toward food transparency have boosted the growth of the global food enzymes market. However, allergies of protease and peptides hamper the market growth. On the contrary, immobilized enzyme technology for food application is expected to create lucrative opportunities in the near future.
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The global food enzymes market is divided on the basis of type, application, source, and geography. Based on type, the market is categorized into carbohydrase, lipase, protease, and others. The carbohydrase segment dominated the market in 2018, accounted for nearly two-thirds of the market. However, the lipase segment is projected to register the fastest CAGR of 6.6% during the forecast period.
On the basis of application, the market is divided into bakery products, beverages, dairy products, and others. The beverages segment held the largest share in 2018, contributing more than two-fifths of the market. However, the bakery products segment is anticipated to grow at the fastest CAGR of 7.2% during the forecast period.
Based on source, the market is segmented into microorganisms, animals, and plants. The microorganisms segment held the lion’s share in 2018, contributing more than three-fourths of the market. Moreover, the segment is anticipated to manifest the fastest CAGR of 5.9% during the forecast period.
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The global food enzymes market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2018, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific dominated the market is estimated to portray the fastest CAGR of 7.4% during the forecast period.
The global enzymes market report provides an in-depth analysis of the major market player such as Advanced Enzyme Technologies, Aum Enzymes, Amano Enzyme Co., Ltd., DowDuPont, BASF, Chr. Hansen Holding A/S, Kerry Group PLC, Associated British Foods Plc. (ABF), Novozymes, and Royal DSM N.V.
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