Redding, California, June 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled ‘Food Enzymes Market by Type (Carbohydrases [Amylases, Cellulases], Proteases, Lipases), Form (Solid, Liquid), Source (Microorganisms, Plants, Animals), Application (Bakery, Dairy, Beverages, Grain & Oilseed Processing) - Global Forecast to 2030,’ published by Meticulous Research®, the food enzymes market is projected to reach $3.66 billion by 2030, at a CAGR of 7.3% during the forecast period 2023–2030.
The growing demand for fermented food and beverage products, nutraceuticals, and fortified foods, coupled with technological innovations in the enzymatic food processing industry, drives the growth of this market. Additionally, the growing demand for natural alternatives to synthetic chemicals is expected to provide significant growth opportunities for food enzyme manufacturers in the coming years.
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The food enzymes market is segmented by type (carbohydrases [amylases, cellulases, and other carbohydrases], proteases, lipases, and other food enzymes), form (liquid and solid), source (microorganisms [fungi, bacteria, and yeast], animals, and plants), application (bakery, dairy, beverages [non-alcoholic beverages, brewing and alcohol production], fruit and vegetable processing, starch processing, meat, fish and egg processing, grain & oilseed processing, and other food applications), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Based on type, in 2023, the carbohydrases segment is expected to account for the largest share of the food enzymes market. The segment’s large market share is attributed to the wide range of applications of carbohydrases in the food & beverage industry, such as the manufacture of bakery products, beer, and dairy products. The low costs of carbohydrases are further expected to boost the growth of this segment. However, the proteases segment is slated to register the highest CAGR during the forecast period, mainly due to the multiple applications of proteases in the food industry. Also, proteases are eco-friendly, non-toxic, and non-pathogenic. These attributes further contribute to the growth of this segment.
Based on form, in 2023, the liquid segment is expected to account for the larger share of the food enzymes market. The large market share of this segment is attributed to liquid food enzymes’ superior performance stability in food processing, ease of use, and lower quantity requirements, and their increasing demand in the food industry. However, the solid segment is expected to witness a rapid CAGR during the forecast period. The rising demand for solid enzymes is attributed to their benefits, such as ease of handling, high gravity fermentation & stability, easy transportation & storage, and longer shelf life.
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Based on source, the microorganism segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the high stability, cost-effectiveness, lower time & space requirements, and high consistency of microorganism-derived food enzymes and their increasing use in the manufacture of food & beverage products, glucose syrups, crystalline glucose, high-fructose corn syrups, and maltose syrups.
Based on application, the bakery segment is expected to account for the largest share of the food enzymes market. The segment’s large share is attributed to the high utilization of food enzymes in the manufacture of bakery products, the increasing consumption of bakery products, growing urbanization, and innovations in the bakery industry.
Based on geography, in 2023, North America is expected to account for the largest share of the food enzymes market, mainly due to technological advancements, the increasing diversity of enzyme applications, the high availability of novel and innovative products, rapid industrialization, the rising demand for alcoholic beverages and processed foods, and growing awareness regarding green technologies in the region. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this regional market is driven by increasing government initiatives to improve food processing, technological advancements in the food & beverage industry, growing demand for processed foods, economic growth, wide availability of raw materials, and rising investments & expansions by major market players.
The food enzymes market has witnessed several product launches, partnerships, agreements, and collaborations in recent years. Some of the key players operating in the food enzymes market are Novozymes A/S (Denmark), International Flavors & Fragrances Inc. (IFF) (U.S.), Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), AB Enzymes GmbH (Germany), Amano Enzyme Inc. (Japan), Chr. Hansen Holding A/S (Denmark), Kemin Industries, Inc. (U.S.), Advanced Enzyme Technologies Limited (India), AEB Africa (Pty) Ltd (South Africa), Biocatalysts Limited (U.K.), Enzyme Development Corporation (U.S.), Qingdao Vland Biotech INC. (China), Aum Enzymes (India), and Nature BioScience Pvt. L.T.D. (India).
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Scope of the Report:
Food Enzymes Market, by Type
- Carbohydrases
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- Amylases
- Cellulases
- Other Carbohydrases
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- Proteases
- Lipases
- Other Food Enzymes
Food Enzymes Market, by Form
- Liquid
- Solid
Food Enzymes Market, by Source
- Microorganisms
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- Fungi
- Bacteria
- Yeast
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- Animals
- Plants
Food Enzymes Market, by Application
- Bakery
- Dairy
- Beverages
- Non-alcoholic Beverages
- Brewing and Alcohol Production
- Fruit and Vegetable Processing
- Starch Processing
- Meat, Fish, and Egg Processing
- Grain & Oilseed Processing
- Other Food Applications
Food Enzymes Market, by Geography
- North America
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- U.S
- Canada
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- Europe
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- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe (RoE)
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- Asia-Pacific
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- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
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- Latin America
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- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
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- Middle East & Africa
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