Rockville Pike, Dec. 19, 2024 (GLOBE NEWSWIRE) -- As stated in the newly published report by Fact.MR, a market research and competitive intelligence provider, the global transglutaminase market is evaluated to reach a worth of US$ 593.8 million in 2024. The market is further forecasted to advance at a CAGR of 7.4% between 2024 and 2034.
Transglutaminase sometimes referred to as "meat glue," is in high demand worldwide because of its several applications in the food industry and adaptability. Because of its exceptional capacity to cross-link proteins, this enzyme is beneficial in a wide range of applications, from reorganizing meat products to enhancing the textures of dairy and baked goods.
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Transglutaminase is becoming popular because of its ability to improve product quality, increase shelf life, and decrease food waste. Manufacturers are using this enzyme to develop novel plant-based goods and enhance already-existing ones as customers look for healthier and more environmentally friendly eating alternatives.
Transglutaminase is becoming increasingly popular in potentially high-growth countries due to its affordability and compatibility with clean label norms. The worldwide transglutaminase market is evaluated to grow further as new uses and advancements in food technology arise, owing to its critical role in contemporary food processing and product creation.
Key Takeaways from Market Study
- The global transglutaminase market is forecasted to attain a valuation of US$ 1.21 billion by the end of 2034.
- The market in South Korea is analyzed to expand at a CAGR of 8.2% from 2024 to 2034.
- The East Asia market is projected to reach US$ 280.1 million by 2034-end.
- Mexico is analyzed to account for a market share of 19.9% in the North American region by 2034.
- Based on the source type, animal and plant tissue sales are projected to rise at a CAGR of 7.1% from 2024 to 2034.
- The market in East Asia is forecasted to expand at a CAGR of 7.7% through 2034.
“Transglutaminase is becoming a good alternative for allergen-free binding making it a popular and prominent product worldwide,” states a Fact.MR analyst.
Suppliers Focusing on Organically Made Transglutaminase to Enhance Sales
Manufacturers in the transglutaminase market are utilizing creative approaches to enhance the worldwide need and recognition of this adaptable enzyme. Extensive research and development is a crucial strategy for identifying new uses, especially in potentially high growth markets such as plant-based proteins and functional foods. Education is essential, and vendors host webinars and workshops to show food makers the advantages of transglutaminase. To demonstrate its potential in haute cuisine and broaden its appeal beyond industrial application, they are also working with chefs and culinary schools.
Some providers are focusing on organically produced transglutaminase and promoting it as a more consumer-friendly alternative to answer clean-label concerns. To stay in line with environmentally sensitive consumer trends, they are also investing in sustainable production techniques. Another important tactic is customization, whereby vendors provide specially-made enzyme mixes for certain uses. They are cultivating long-term partnerships with food firms by offering formulation help and technical support, which is creating steady demand for their products.
Key Market Players Driving the Transglutaminase Industry
The global key business studied in the Transglutaminase Industry analysis report include BDF Ingredients; C&P Group Ingredients; Creative Enzymes; Guangdong Kelong Biotechnology Co., Ltd.; Haihang Industry; Jiangsu Yiming Biological Technology Co., Ltd.; Micro-Tech Foods Ingredients, Inc.; Ultreze Enzymes Pvt. Ltd.; Yesil Arma; Ajinomoto Co., Inc.; Antozyme Biotech Pvt. Ltd.; Apex Biotechnol.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the transglutaminase market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on source type (animal & plant tissues, microbial fermentation) and application (meat processing, fish processing, dairy products, bakery products), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Discover Additional Market Insights from Fact.MR Research
According to newly published data by Fact.MR, the global specialty meat ingredients market is anticipated to grow from its 2023 valuation of US$ 3.56 billion to US$ 5.9 billion by 2033, reflecting a CAGR of 5.2% over the next decade (2023–2033).
The demand for meat substitutes was valued at US$ 10 billion in 2021 and is anticipated to grow to US$ 13 billion by the close of 2022, marking a 30% year-on-year increase.
Global processed meat consumption is projected to grow at a steady CAGR of 4.5% from 2023 to 2033. Currently valued at US$ 335 billion, the processed meat market is expected to reach a revenue of US$ 519.8 billion by the end of 2033.
The global plant-based fish market is estimated at US$ 183.95 million in 2023 and is expected to surge to US$ 2.19 billion by 2033, growing at a remarkable CAGR of 28.1%.
The global plant protein ingredient market is valued at US$ 14.19 billion in 2024 and is anticipated to grow significantly over the next decade. With a projected CAGR of 7.4%, the market is expected to reach US$ 28.97 billion by 2034.
About the Food and Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the food and beverage industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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