(MENAFN- The Express Wire) According to the study, the global food enzymes market will be worth US$ 2,393.64 Mn by 2027 from US$ 1,695.65 Mn in 2019, with a promising CAGR of 4.70%
The global food enzymes market size is expected to rise considerably owing to extensive adoption of clean-labeled and natural ingredients in food and beverage industry. Fortune Business Insights, in its latest report, titled “Food Enzymes Market Size, Share and industry Analysis, By Source (Microbes, Plants, and Animals), Type (Carbohydrases, Proteases, Lipases and Others), Application (Bakery, Dairy, Beverages, Nutraceuticals and Other Processed Foods), and Regional Forecast, 2020 2027.”, further observes that the market value stood at USD 1.69 billion in 2019, which is likely to hit USD 2.39 billion by 2027 while exhibiting a 4.70% CAGR during the forecast period.
Get a Free Sample Research Report:
Drivers and Restraints:
Increasing Consumption of Clean-Labeled Food to Surge Demand
According to the European Food Safety Authority (EFSA), long-term exposure of chemicals at high concentrated levels through food may have a toxicological effect on humans. Though they are essential building blocks, synthetic chemicals as additives have an adverse effect on health when consumed. Increasing awareness among people regarding the health concerns associated with the consumption of synthetic ingredients is expected to surge the demand for clean-labeled food across the globe. The gradual shift of the consumers from chemical ingredients to naturally processed food products that are safe and healthy will boost the demand for food enzymes in the forthcoming years. For instance, in October 2019, Tiny Organics, a U.S.-based direct-to-consumer brand, announced its launch of organic plant-based recipes that are healthy for toddlers. The recipes include baby burrito bowls, pumpkin spice oatmeal, and coconut curry-induced dishes.
Regional Analysis:
Increasing Demand for High-quality Processed Food to Augur Growth in North America
Among the regions, North America is anticipated to remain dominant and register high global food enzymes market revenue in the forthcoming years. This is ascribable to factors such as growing demand for naturally occurring ingredients. Additionally, increasing demand for high-quality processed food and rising investments from manufacturers to develop innovative products is likely to drive the market growth in the region. Asia-Pacific, on the other hand, is likely to register steady growth for the market during the forecast period. This is attributable to factors such as growing demand for bakery and dairy products.
Competitive Analysis:
Joint Ventures Among Companies to Spur Demand for Food Enzymes
In November 2019, Cargill along with DSM announced its plan to enter into a joint venture. Avansya, the joint venture between the two giants is about constructing a commercial facility to manufacture stevia sweeteners through the fermentation process. The companies are likely to consolidate their position with their collaboration by setting up the 10,000 sq. ft. plant that costs around USD 50 million, located at Blair, Nebraska. Adoption of strategies such as joint ventures, product launches, and expansion of product offerings by the companies to cater to the increasing consumer demand is likely to favor the global food enzymes market growth between 2020 and 2027.
Inquire Before Buying This Research Report:
Detailed Table of Content:
Introduction Research Scope Market Segmentation Research Methodology Definitions and Assumptions
Executive Summary Market Dynamics Market Drivers Market Restraints Market Opportunities Emerging Trends
Key Insights Overview of the Parent/Related Markets Industry SWOT Analysis Supply Chain and Regulatory Analysis Recent Industry Developments - Policies, Partnerships, New Source Launches, and Mergers and Acquisitions
Global Food Enzymes Market Analysis, Insights and Forecast, 2016-2027 Key Findings / Summary Market Size Estimates and Forecast By Source By Type Carbohydrases Proteases Lipases Others
By Application Bakery Dairy Beverages Nutraceuticals Other Processed Foods
By Region North America Europe Asia Pacific South America Middle East and Africa
TOC Continued...!
Get your Customized Research Report:
Key Industrial Development:
March 2019: AB Enzymes, a leading biotech company, announced its launch of a new enzyme product, ROHALASE. The new enzyme will limit the need for chemicals to extract oil from seeds such as sunflower, soy, and canola, among others while helping the company to deliver high yields.
About Us:
Fortune Business InsightsTM offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business InsightsTM Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email :
fortune business insightstm
linkedin | twitter | blogs
Press Release Distributed by the express wire
To view the original version on The Express Wire visit food enzymes market size, industry trends, segmentation, global demand, share and forecast till 2027