Rockville, July 10, 2023 (GLOBE NEWSWIRE) -- Fact.MR estimates that the global dairy enzymes market will reach US$ 1.72 billion by the end of 2033, growing at a strong CAGR of 7.8% from its current value of US$ 813.45 billion in 2023.
Proteins that act as enzymes have specialized biological purposes. Sources of milk enzymes include natural milk, bacterial contamination in the environment, and bacteria intentionally injected to promote fermentation. Cheese, yoghurt, and other dairy products are made using a particular set of enzymes used by the dairy industry. These dairy products' overall quality is improved by using enzymes to enhance their texture and flavour.
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Key Driving Forces Accelerating the Market Growth
- There is a growing consumer preference for dairy products due to their nutritional benefits and versatility. This increased demand for dairy products drives the need for efficient dairy processing methods, including the use of dairy enzymes.
- The development of innovative and effective dairy enzymes has improved the overall efficiency of dairy processing. Enzymes help enhance various processes such as cheese making, milk coagulation, lactose hydrolysis, and flavor development, leading to improved product quality and increased production yields.
- Sales of dairy enzymes in the US are expected to witness a CAGR of 8.3% during the forecast period and are expected to reach US $ 486.15 Mn by the end of 2033.
- Lactose intolerance is a common digestive disorder where individuals have difficulty digesting lactose, the sugar found in milk and dairy products. The awareness about lactose intolerance has increased significantly, leading to a growing demand for lactose-free and low-lactose dairy products. Dairy enzymes, such as lactase, help break down lactose into simpler forms, making dairy products more easily digestible for lactose-intolerant individuals.
- Consumers are increasingly seeking dairy products made from natural and clean-label ingredients. Dairy enzymes are considered natural and clean-label ingredients, as they are derived from microbial or plant sources.
Vital indicators shaping the Future of the Industry
- Changing consumer preferences and emerging trends have a significant impact on the dairy enzymes market. Factors such as increasing demand for natural and clean-label ingredients, rising interest in lactose-free and low-lactose dairy products, and the growing popularity of functional dairy products shape the future of the market. Manufacturers need to stay abreast of consumer preferences and adapt their product offerings accordingly.
- Ongoing advancements in enzyme technology play a crucial role in shaping the future of the dairy enzymes market. Innovations in enzyme production, extraction, and formulation techniques can lead to improved efficiency, enhanced functionalities, and expanded applications. Technological developments such as genetic engineering, fermentation techniques, and enzyme immobilization methods will drive the market forward.
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Challenges hindering the market growth
- Regulatory frameworks and standards surrounding the use of enzymes in the food industry can pose challenges for the dairy enzymes market. Obtaining regulatory approvals and ensuring compliance with labeling requirements and safety regulations can be time-consuming and costly for manufacturers. Changes in regulations or the introduction of new requirements may add further complexity.
- The volatility of raw material prices can impact the cost of production for dairy enzymes. Enzymes are often derived from specific sources, and fluctuations in the availability and cost of these raw materials can affect the profitability of enzyme manufacturers. Price volatility can also be influenced by factors such as currency fluctuations, trade policies, and global supply and demand dynamics.
How competition influences the market
- Leading companies are focusing on expanding their product portfolios to establish a strong market share and stand out in a competitive market. Moreover, companies are developing unique formulations to customize enzyme solutions for specific applications.
- Manufacturers can scale their presence in the market by expanding their product portfolio. This can involve developing new enzyme formulations or expanding the range of applications for existing products. By offering a comprehensive portfolio of dairy enzymes that cater to different processing needs, manufacturers can attract a wider customer base and increase market penetration.
- In March 2020, Novozyme introduced Saphera Fiber, a product that offers good quality fiber content and reduces sugar in fermented and non-fermented dairy products.
- In March 2020, Novozyme introduced Saphera Fiber, a product that offers good quality fiber content and reduces sugar in fermented and non-fermented dairy products.
Key Companies Profiled
- DowDuPont
- Kerry Group
- DSM
- Novozymes
- Enmex
- Amano Enzymes
- SternEnzym
- Biocatalysts
- Connell Bros
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Key Segments of Dairy Enzymes Industry Research
- By Product Type:
- Carbohydrates
- Protease
- Polymerase & Nuclease
- Lipase
- Phytase
- By Source:
- Plant-based
- Animal- & Microorganism-based
- By Application:
- Milk
- Cheese
- Ice Cream & Desserts
- Yogurt
- Whey
- Infant Formula
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Check out more related studies published by Fact.MR Research:
Cellulose Enzymes Market: The global cellulose enzyme market is set to enjoy a valuation of US$ 1,732.8 million in 2023 and further expand at a CAGR of 6.9% to reach US$ 3,377 million by the end of 2033.
Lipase Enzymes Market: Increased consumption of processed food and dairy products among consumers has fuelled the demand and supply of lipase enzymes over the years. Lipase is an enzyme that catalyzes the hydrolytic reaction of fats, and reduces the formation of glycerol and fatty acids in all living organisms.
Protease Enzyme Market: The global market for industrial enzymes is increasing from year to year, it constitutes the largest product segment in the global industrial enzymes sales in various industrial market sectors such as detergent, food, pharmaceutical, leather, diagnostics, waste management, and silver recovery.
Lactase Enzyme Market: The global lactase enzyme market is estimated to exhibit expansion at 4% CAGR from 2023 to 2033. Worldwide sales of lactase enzymes are projected to increase from a market valuation of US$ 742 million in 2023 and reach US$ 1.1 billion by the end of 2033.
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