NEW YORK, Oct. 25, 2023 /PRNewswire/ -- The food enzymes market is expected to grow by USD 914.04 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.28% during the forecast period. Increasing demand from the beverage industry is notably driving the food enzymes market. However, factors such as the availability of substitutes may impede the market growth. The market is segmented by Application (processed foods, beverages, animal feed, poultry, dairy, and bakery), Product (carbohydrases, protease, lipase, and others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Key Segment Analysis
- The market share growth by the processed foods segment will be significant during the forecast period. Food products, consisting of breakfast cereals, tinned vegetables, bread, and convenience foods like microwave dinners or ready meals use food-grade enzymes for the extraction of proteins, carbohydrates, and starches to more uniform units. Moreover, due to a growing number of individuals' hectic lifestyles and rising expenditure, consumption of processed food has become more prominent. Hence, these factors are expected to drive segment growth during the forecast period.
To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.
Geographical Market Analysis
- North America is estimated to contribute 31% to the growth of the global market during the forecast period. The developing food and beverage sector in this region, which promotes demand for products, changes in lifestyle as well as increased consumer disposable income, has been a major factor behind the regional growth. The major contributors to this region are the US, Canada, and Mexico. In addition, the growing consumption of carbohydrases, proteases, and lipases in meat processing is a major driver for the food enzyme market with North America being one of the world's top meat consumers. Hence, these factors are expected to drive market growth in the region during the forecast period.
Company Insights
The food enzymes market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., Associated British Foods Plc, Aum Enzymes, BASF SE, Biocatalysts Ltd., Chr Hansen Holding AS, Deerland Probiotics and Enzymes Inc., DuPont de Nemours Inc., Dyadic International Inc., Jiangsu Boli Bioproducts Co. Ltd., Koninklijke DSM NV, Maps Enzymes Ltd., Nagase and Co. Ltd., Noor Enzymes Pvt. Ltd., Novozymes AS, Puratos Group NV, Specialty Enzymes and Probiotics, Sunson Industry Group Co. Ltd., and VTT Technical Research Centre of Finland Ltd.
View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market 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 market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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