According to a new report published by Allied Market Research, titled,"Food Enzymes Market by Type, Application and Source: Global Opportunity Analysis and Industry Forecast, 2019 - 2026,"the global food enzymes market size was $1,944.8 million in 2018, and is projected to reach $3,056.9 million by 2026, registering a CAGR of 5.6% from 2019 to 2026. In terms of volume, North America occupied more than one-third of the global market share for 2018 and is expected to maintain its dominance during the forecast period.
Food enzymes are complex ingredients, which act as catalyzers and are extensively used for increasing the diversity, variety, and quality during processing of food. Food enzymes are often used for food processing owing to its multiple benefits, which include enhancement of texture, flavor & fragrance, preservation, coagulation, and tenderization. Food enzymes are generally produced through fermentation process. Both fed-batch and continuous fermentation processes are commonly used for the commercial production of food enzymes across the world; however, food enzymes are also sourced from animals and plants.
Developments in protein and genetic engineering have resulted in the improvement of economy, specificity, stability, and overall application potential of food enzymes. Food enzymes find application on plethora of platforms such as starch modification, sweetener production, sugar processing, baking, flour supplementation, dough conditioning, cheesemaking, brewing, flavor enhancement, meat tenderizing, and juice processing.
The application of enzymes in food processing is governed by various national and international agencies across the world. For general purposes, the Food Chemicals Codex (FCC) and FAO/WHO Joint Expert Committee on Food Additives (JECFA) have framed guidelines for the usage of enzymes as food additives. AMFEP of Europe and Enzyme Technical Association (ETA) of the U.S. region also provide regulatory guidelines for the safe usage of food enzymes in the food & beverage industry
It is pertinent to note that millennials are now more concerned about food transparency than any earlier generation. They demand food products with little or no artificial ingredients and synthetic chemicals. They also demand food products that undergo less processing. As a result, leading manufacturers focus on introducing clean label products that cater to such growing demands from millennials.
The food enzymes market analysis is based on type, application, source, and region. Based on type, the market is divided into carbohydrase, lipase, protease, and others. Based on application, the market is analyzed across bakery products, beverages, dairy products, and others. Based on source, it is classified into microorganisms, animals, and plants. Based on region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Food Enzymes Market:
- The carbohydrase segment was the highest contributor to the global food enzymes market in 2018 and is projected to grow at a moderate CAGR during the forecast period.
- There is an increase in demand for food enzymes from bakery segment. As a result, the bakery segment is poised to grow with lucrative CAGR of 7.2% during the forecast period.
- Clean labels, immobilized enzyme technology, and sustainability are the some of the emerging food enzymes market trends around the world.
- Microorganisms segment accounted for about three-fourths of the food enzymes market share for 2019 and is projected to grow with highest the CAGR during the forecast period.
- Dairy product segment is projected to exhibit rapid growth in the market, in the estimated forecast.
- In terms of food enzymes market growth, the Asia-Pacific region is poised to grow with highest CAGR during the forecast period followed by LAMEA.
The key players studied across food enzymes industry includes Associated British Foods Plc. (ABF), Advanced Enzyme Technologies, Amano Enzyme Co., Ltd., BASF, Chr. Hansen Holding A/S, DowDuPont, Kerry Group PLC, Novozymes, Royal DSM N.V., and Aum Enzymes.