Global Food Enzymes Market is Expected to Reach USD 3.89 BN By Forecast Year 2028: Stratistics MRC

October 11 12:58 2021
Global Food Enzymes Market is Expected to Reach USD 3.89 BN By Forecast Year 2028: Stratistics MRC
Food Enzymes market Data And Industry Growth Analysis | Stratistics Market Research Consulting
Food Enzymes Market Forecasts to 2028 – Global Analysis By Type (Proteases, Polymerase, Carbohydrase, Catalases), Application (Beverages, Food, Animal Feed, Grain and Oilseed Processing, Additives), and By Geography

The Global Food Enzymes market is accounted for $2.03 billion in 2020 and is expected to reach $3.89 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Some of the key factors propelling the market growth include rising demand for packaged and processed food, increasing need for food waste reduction and food security, rising customer awareness of nutrition-rich diet, increasing penetration of organized retail channels in rural and urban areas, and introduction of innovative technologies. However, restricted temperature and pH operational range is restricting the market growth. 

Some of the key players in Food Enzymes Market include Koninklijke DSM N.V., Associated British Foods plc, Jiangsu Boli Bioproducts Co., Ltd., Novozymes, Advanced Enzyme Technologies., Biocatalysts Limited, E. I. du Pont de Nemours and Company, Kerry Group, Aumgene Biosciences, Infinita Biotech Private Limited, BASF SE, Chr. Hansen Holding A/S, Amano Enzyme Inc., Ultra Bio-Logics Inc., SUNSON Industry Group Co., Ltd, and Puratos Group.

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The Global Food Enzymes Market is majorly driven by growing demand for packaged and processed food, demand for environment-friendly manufacturing processes, increasing customer awareness of nutrition-rich diet, and introduction of innovative technologies. The microorganism-based enzymes segment is growing at a highest CAGR as enzymes obtained from microbial sources lead to low production costs and are stable than other sources. They can also be easily modified through various molecular and biochemical approaches to increase their specificity. North America dominated with a significant market share due to growing demand for enzymes in food applications and increased processed food demand in countries such as the U.S and Canada. Asia Pacific market is growing at a highest CAGR owing to rapid urbanization coupled with rising living standards, the changes in consumer preferences and liberalization of trade, and increased end-use application and processed food demand in countries such as China, India and Japan.

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