Global Food Enzymes Market to Grow at a CAGR of 5.1% During 2024-2032, Aided by the Rising Demand for Processed Food Products

The global food enzymes industry is being aided by the growing use of food enzymes to manufacture processed as well as high-quality food products. While North America dominates the market, the Asia Pacific is expected to witness the highest CAGR over the forecast period owing to the increased consumer demand for western taste and rising disposable incomes. Within the Asia Pacific, the emerging nations like China and India are expected to provide significant opportunities to the industry for its growth. As food enzymes find extensive use in the production of cheese and yogurt, thus, the growing consumption of cheese and yogurt is, in turn, aiding the global food enzymes industry. Among various types of food enzymes, the lipase segment will witness the fastest growth rate in the forecast period.

The increasing consumer preferences for natural and healthier options is leading manufacturers to launch on-trend products, fulfilling the rising customer demand for exceptional flavour as well as nutrition. In December 2020, DuPont (NYSE: DD) announced that it is merging its Nutrition & Biosciences (N&B) business with International Flavors & Fragrances (NYSE: IFF), a global leader in fragrance and flavour industry, to further form a USD 45.4 billion consumer goods powerhouse. This merger, with combined capacities of IFF and N&B, has created a global leader in high-value ingredients and solutions for the global food and beverage, home and personal care, and health and wellness markets, further aiming to enhance their portfolio across key taste, texture, nutrition, enzymes, soy proteins, and probiotics categories and create innovative solutions to satisfy the rising consumer demand. Such developments are expected to aid the growth of the global food enzymes industry over the forecast period.

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Market Breakup by Source, Types, Formulation, Applications and Regions:

• The different sources of food enzymes are bacteria, fungi, plants, animals, and microorganisms. 

• By type, the global food enzymes industry can be divided into carbohydrase, lipase, and protease, among others. 

• Food enzymes are available in powdered as well as liquid formulations. 

• The industry, on the basis of its application, can be segmented into beverages, processed foods, bakery products, confectionery products, dairy products, and others. 

• Region-wise, the market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global food enzymes industry is being driven by the growing demand and consumption of processed food. 

• The rising global population and growing disposable incomes are providing further impetus to the industry.

• The growing awareness and increasing demand for premium quality product, particularly in emerging nations, are providing further impetus to the industry for its growth. 

• The growing consumer demand for plant-based food enzymes is propelling the industry forward.

• With the rapid advancements in technology and the increased focus of manufacturers to launch new product range, the industry is expected to witness a further growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for food enzymes for the periods (2018-2023) and (2024-2032). 

• The report offers historical (2018-2023) and forecast (2024-2032) market information for the sources, types, formulations, applications, and major regions of food enzymes.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global food enzymes market are Amway Corp., Kerry Inc., Puratos, BASF SE, Amano Enzyme Inc., and Bioseutica, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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