What is the Food Enzymes Market Growth?

The Food Enzymes Market is expected to grow at a 6.47 % CAGR during the forecast period for 2024-2031.

Who are the key players of the Food Enzymes Market?

DuPont, Associated British Foods plc., DSM, Novozymes, Chr. Hansen, Kerry Group, Jiangsu Boli Bioproducts Co., Ltd., Biocatalysts Ltd., Puratos Group,

Food Enzymes Market

Q: How big is the Food Enzymes Market Size?

The Food Enzymes Market Size is valued at 1.57 Billion in 2023 and is predicted to reach 2.57 Billion by the year 2031

The Food Enzymes Market Size is valued at 1.57 Billion in 2023 and is predicted to reach 2.57 Billion by the year 2031 at a 6.47 % CAGR during the forecast period for 2024-2031.

Key Industry Insights & Findings from the Report:

The rise of the food enzyme market can be attributed to the worldwide expansion of the food industry, fostering innovation and advancement in food processing and production.
The increasing demand for nutraceutical products is expected to drive industry growth.
North America dominated the market and accounted for a global revenue share in 2023.
One of the significant factors constraining the industry's growth is the environmental and sustainability concerns and regulatory uncertainties.

food enzyme

Food enzymes are intricate substances that act as catalysts and are frequently used in the food processing sector to promote complexity, variety and quality. Food enzymes are extensively used in food processing for their many advantages, such as improving smell, texture, and flavour and coagulating, preserving, and tenderizing food. The global market for food enzymes is driven by the consumer's increasing awareness of wholesome and safe foods. Additionally, macroeconomic factors such as rising processed food competition and consumer desire for environmentally friendly manufacturing methods positively impact the global market for food enzymes. Other factors, such as the high enzyme response specificity and improvements in food quality, will moderate the market's development rate. The food enzyme market will expand faster due to waste reduction and energy savings in the food processing process.

The main factors that will accelerate the growth rate of the food enzymes market also include the rise in demand for nutraceutical products, increased consumption of alcoholic and non-alcoholic drinks, and replacement of old chemicals in various sectors. Additionally, as there are more cutting-edge technology platforms and emerging applications, there will be more potential for the market for food enzymes to expand.

Competitive Landscape

Some major key players in the Food Enzymes Market:

DuPont,
Associated British Foods plc.,
DSM, Novozymes,
Hansen,
Kerry Group,
Jiangsu Boli Bioproducts Co., Ltd.,
Biocatalysts Ltd.,
Puratos Group,
Advanced Enzyme Technologies Ltd.,
Amano Enzyme Inc.,
Enzyme Development Corporation,
ENMEX, S.A. de C.V.,
Enzyme Bioscience Private Limited,
Aumgene Biosciences,
Creative Enzymes,
SUNSON Industry Group Co., Ltd.,
AUM Enzymes,
Xike Biotechnology Co. Ltd.
Antozyme Biotech Pvt Ltd.

Market Segmentation:

The food enzymes market is segmented by type, source, application and form. Based on type, the market is segmented into carbohydrase (amylase, cellulase, lactase, pectinase and other carbohydrases), proteases, lipases, polymerase & nuclease and other types. Based on the source, the market is segmented into microorganisms, plants and animals. Based on the application, the market is segmented into food (meat products, bakery & confectionery products, dairy products, nutraceuticals and other food products) and beverages (juices, brewing and other beverages). Based on the form, the market is segmented into lyophilized powder, liquid and other formulations.

Based On Type, The Carbohydrase Category Is Accounted As A Major Contributor To The Food Enzymes Market.

The carbohydrase category dominated the market in 2021 due to its application in animal feed enzymes, food, and beverages. Enzyme demand in food has expanded as consumer wants and benefits are becoming more widely known. Additionally, it is anticipated that growing consumer demand for products with added value and expanding adoption of new technologies would offer significant industry potential. Due to their low toxicity, cost-effectiveness, high tolerance, and increased demand from the dairy industry, carbohydrases have benefits for use in food applications.

The Microorganism Category Witnessed Growth At A Rapid Rate.

The microorganism category dominated the market in 2021. The advantages of employing microorganisms include lower production costs, a more comprehensive range of industrial fermentation, easier manufacturing processes, and quicker culture development. Cheddar cheese production benefits from the use of the microbial enzyme lipase. Manufacturers can benefit from microbial proteases in brewing, meat tenderization, milk coagulation, and bread quality improvement.

The North American Food Enzymes Market Holds A Signification Revenue Share.

The North American food enzymes market is expected to register the highest market share in revenue, shortly ascribed to the growing popularity of using components that are naturally derived. The ever rising belief is driving consumers' demand for food enzymes in the region that natural additives are secure & nutritious. The widespread use of enzymes in food systems has developed due to the growing demand for high-quality processed foods free of chemical additives. The region's market is expanding due to the increasing investments made by major corporations in creating cutting-edge products such as enzymes with high specificity. In addition, Asia Pacific is projected to boost in the global food enzymes market because the food and beverage sector is flourishing. The adoption of Western diets, related to the rising demand for bakery goods, dairy goods, and beverages, keeps developing in the area. As worries about sustainability and food safety increase, these products are anticipated to use food enzymes rather than synthetic chemicals.

Recent Developments:

In Dec 2023, Kerry Group plc declared the execution of a final agreement with Chr. Hansen Holding A/S ("Chr. Hansen") and Novozymes A/S ("Novozymes") to acquire a carve-out portion of the global lactase enzyme business (collectively referred to as the "Lactase Enzymes Business").

In March 2023, Creative Enzymes introduced a range of food-grade enzymes specifically developed to enhance food processing. The introduction of these groundbreaking enzymes provided efficient and economical alternatives to assist food makers in achieving their objectives and meeting the preferences of customers for healthier, more delicious, and environmentally friendly food manufacturing.