Food Enzymes Market Records a Growth of USD 991.8 million from 2023 to 2028, Major Innovations and Key Company Offerings - Technavio

NEW YORK, Jan. 29, 2024 /PRNewswire/ -- The food enzymes market is to grow by USD 991.8 million from 2023 to 2028 progressing at a CAGR of 6.45% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., Archer Daniels Midland Co., Associated British Foods Plc, Aum Enzymes, BASF SE, Chr Hansen Holding AS, DuPont de Nemours Inc., Dyadic International Inc., Jiangsu Boli Bioproducts Co. Ltd., Koninklijke DSM NV, Lumis Biotech Pvt. Ltd., Maps Enzymes Ltd., Nagase and Co. Ltd., Noor Enzymes Pvt. Ltd., Novozymes AS, Puratos Group NV, Sunson Industry Group Co. Ltd., VTT Technical Research Centre of Finland Ltd., and BRAIN Biotech AG are the key companies.Here is an Exclusive report talking about Market scenarios with a historical period (2018-2022) and forecast period (2024-2028). Download a Free Sample Report in minutes!

Advanced Enzyme Technologies Ltd. - The company offers food enzymes such as Starzyme Super Conc, SEBake Pro, SEBStar HTL, SEBMash R, and others.

Associated British Foods Plc - The company offers food enzymes such as VERON MAXIMA enzyme solution for the baking industry.

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A rise in awareness about healthy and nutritional food is the key factor driving growth. The surge in demand for processed foods is driven by factors like heightened health awareness, increased income and spending, and rapid economic growth. This trend is further fueled by changes in lifestyles and dietary habits, urbanization, and the rise of nuclear families and working women. Additionally, the preference for convenience foods in today's fast-paced lifestyle has contributed to this demand. Moreover, the consumption of nutrient-deficient, high-fat foods can disrupt metabolism, leading to an increased focus in processed foods. These aid in breaking down complex nutrients, promoting better digestion and metabolism.

• Capacity expansions and new plants are the primary trends shaping growth. 
• High prices affecting product consumption is a significant challenge restricting growth. 

The market analysis includes Application, Product, and geography landscape. This study identifies Product innovations, Capacity expansions and new plants, and Rising consumer focus on health, wellness, and natural products as one of the prime reasons driving the growth during the next few years.

• The processed foods segment is estimated to witness significant growth during the forecast period. Food-grade enzymes are utilized in processed foods like breakfast cereals, tinned vegetables, bread, and convenience meals to break down proteins, carbs, and starch. The rise in processed food consumption due to busy lifestyles and increased spending has elevated the demand for cereal grains. This trend is furthered by growing populations, particularly in nations like China and India, which fuels the demand for cereals and grains and, consequently, food enzymes. Additionally, frozen foods, whose popularity is driven by lifestyle changes and dietary choices, also contribute to the heightened demand due to their inclusion in carbohydrate digestion.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View a Free Sample Report

Food Enzymes: Diverse Applications

Food enzymes find diverse applications in various industries, including the dairy industry, bakery products, beverages, meat processing, brewing, and confectionery. They are categorized into different types such as proteases, carbohydrases, lipases, amylases, rennet, pectinases, lactase, and phytases, sourced from plants, microbes, and animals. They play a crucial role in biotechnology and fermentation technology, driving innovation in enzyme engineering. Regional markets like North America, Europe, and Asia-Pacific have distinct regulatory frameworks, including FDA approval and organic certification, addressing concerns related to GMOs. Market trends indicate a growing demand, particularly in the context of sustainable practices and clean-label ingredients.

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The marine enzymes market size is estimated to grow by USD 54.62 million at a CAGR of 6.43% between 2023 and 2028.

The global hydrolyzed vegetable protein market is projected to reach a value of  USD 3,194.8 million in 2028 with a CAGR of 5.8% between 2023 and 2028. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Application

Segmentation by Product 

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.

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SOURCE Technavio

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