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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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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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