Published on : Oct 19, 2016
ALBANY, NY, Oct 19, 2016: The research study, titled “Global Food Enzymes Market 2016-2020,” offers an all-inclusive assessment of this market, highlighting the key trends and growth opportunities.
According to the report, the increased usage of enzymes in nutraceutical products, owing to the shifting preference of consumers towards bio-based products, is likely to influence the global food enzymes market significantly. Researchers project the market to expand at a CAGR of 7.42% between 2016 and 2020.
In this study, the global market for food enzymes has been evaluated on the basis of the type of food enzyme, application, and the geographical spread. Based on the type of food enzyme, the market has been categorized into protease, carbohydrase, and lipase.
Thanks to the rising consumption of food enzymes in the dairy and the in the brewery sectors, carbohydrase is likely to lead the overall market with a share of nearly 63% by 2020. Apart from this, the extensive usage of starch in beverages, specifically, vegetable and fruit juices, is also projected to boost the carbohydrase segment over the next few years, states the report.
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Based on the application, the market has been classified into food and beverages, processed foods, animal feed and poultry, bakery, and dairy. According to the study, the processed foods segment is likely to lead the demand for food enzymes throughout the forecast period and occupy a share of over 45% in the overall market by 2020.
The increasing demand for processed foods, such as breakfast cereals, and the rising shift towards convenience foods, thanks to the growing awareness level of consumers regarding the health benefits they provide, are projected to present favorable growth opportunities to this segment, notes the study.
Geographically, the report segments the global food enzymes market into Asia Pacific (APAC), North America, South and Central America, and Europe, the Middle East, and Africa (EMEA). North America has been the key contributor to the revenue generated in the global food enzymes market since the past few years. Analysts expect it to remain dominant over the forecast period and hold a share of more than 41% in the overall market by 2020.
As per the report, the global market for food enzymes is moderately fragmented due to the presence of a number of regional and a few international vendors. Amway, DuPont Danisco, BASF, Novozymes, and DSM are leading food enzyme producers across the world. With production units located all over the world, these companies have a wide geographical presence. However, local players pose a severe challenge to them in the regional markets. Some of the other prominent food enzyme producers mentioned in this research study are AB Enzymes, Nutriteck, Aum Enzymes, Amano, and Roche.
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