NEWARK, Del., July 18, 2024 (GLOBE NEWSWIRE) — The global Food Enzymes market value is expected to reach 2,672.8 million USD in 2024 to 4539.2 million USD by 2034. Global sales of food enzymes are expected to grow at a compound annual growth rate of 5.4% during the assessment period.
Microorganisms are expected to continue to be a widely used source for the production of food enzymes due to their cost-effectiveness. The target segment is expected to have a value share of 52.9% in 2024.
Several factors are likely to have a stimulating effect Growth of the food enzyme industry during the evaluation period. These include increasing demand for processed foods, growing consumer interest in clean label products and increasing awareness of the benefits of enzymes.
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The use of food enzymes is steadily increasing in industries such as food processing, dairy and bakery. These biological catalysts offer benefits such as improved product quality and longer shelf life. Therefore, their demand is expected to increase significantly during the assessment period.
Health-conscious consumers around the world are increasingly looking for healthy and nutritious foods. This is forcing food manufacturers to use ingredients such as enzymes in their products, leading to an expansion of the industry.
Food enzymes such as amylase, lipase and lactase improve the texture and taste of foods and extend their shelf life. The increasing use of these enzymes in the food, bakery and dairy industries is expected to drive revenue growth through 2034.
Growing consumer preference for Clean label products is an important trend affecting the target industry. Well-known processed food manufacturers increasingly prefer the use of natural food enzymes.
Key insights from the Food Enzymes Market report:
- The global market value is expected to total 4539.2 million USD in 2034.
- The carbohydrate content is determined by type to a value of 42.3% in 2024.
- According to Source, the Microorganisms segment is expected to have a market share of 52.9% in 2024.
- The United States is close to an average annual growth rate of 5.2% from 2024 to 2034.
- Demand in China is expected to grow at an average annual rate of 5.3% until 2034.
What factors are driving the growth of the food enzymes market?
“Small producers are investing in the development of super enzymes that can be scaled up for large-scale production and in technology licensors.”
The food and beverage industry is the largest market in the world where food enzymes are used. Enzymes are used in virtually all products in this industry.
In addition, enzymes are substitutes for some chemical additives such as potassium bromates, which are banned in many countries. They are considered super enzymes for better digestion and health.
Consumers’ preference for convenience foods has led to increased demand for foods and beverages such as alcohol, cakes, bread, pastries and doughnuts, which require the use of food enzymes in their production.
What are the restrictions on the food enzymes market?
“The introduction of large-scale synthesis of food enzymes using genetically modified microbes has increased critical scrutiny of enzyme use in the European food and beverage industry.”
The growth of the food enzymes market is hampered by some abiotic factors such as pH stability and temperature, which often alter the biochemical reactions that improve the quality of foods and beverages.
Enzyme supplements are becoming increasingly popular as people’s health concerns increase. In addition, vital enzymes are gaining ground in the market.
In addition, consumers are forced to reduce the consumption of foods in which food enzymes are used, as awareness of the negative effects of foods containing food enzymes is increasing. The European Union has created a directive to regulate the use of food enzymes in the food and beverage sector.
Until now, there were no regulations at EU level for the use of enzymes as processing aids. Only Denmark and France carried out assessments of these processing aids before they were used in the food and beverage industry. The different testing criteria for food enzymes in each country led to the creation of new EU laws.
“The increasing use of food enzymes in the food processing industry, coupled with the rising demand for ready meals, is expected to drive sales growth during the assessment period.” – Nandini Roy ChoudhuryClient Partner at Future Market Insights
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Who wins?
Advanced Enzyme Technologies, Associated British Foods Plc. (ABF), Amano Enzyme Co., Ltd, Novozymes, BASF, Chr. Hansen Holding A/S, DowDuPont, Kerry Group, Royal DSM NV and Aum Enzymes are some of the leading manufacturers and suppliers of food enzymes listed in the report. These players are constantly innovating and bringing new products to the market.
Leading players also implement extensive marketing strategies to gain a competitive advantage. Collaborations, distribution agreements, acquisitions, partnerships and mergers are also becoming increasingly common among players.
Industry updates:
- In May 2023, DSM-firmenich launched Maxilact Next, a pure lactase enzyme for more efficient lactose-free milk production.
- In December 2023, Kerry Group acquired the lactase enzyme business from Novozymes A/S and Chr. Hansen Holding A/S.
Would you like further insights?
Future Market Insights (FMI) in its new offering offers an unbiased analysis of the global food enzymes market and presents historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study contains compelling insights based on type (carbohydrates, protein, lipase and others), source (microorganisms, animals and plants) and application (bakery, beverages, dairy and others) across multiple regions.
Report preview: https://www.futuremarketinsights.com/reports/food-enzymes-market
Written by:
Nandini Roy Choudhury (Food & Beverage Client Partner at Future Market Insights, Inc.) has over 7 years of management consulting experience. She advises industry leaders and explores unexpected opportunities and challenges, implementing processes and operating models to support their business objectives.
She has exceptional analytical skills and often comes up with groundbreaking ideas.
Nandini has extensive expertise in key niches including food ingredients, nutritional and health solutions, animal nutrition and marine nutrients. She is also well versed in pharmaceutical, biotechnology, retail and chemicals and advises market participants on developing methodologies and strategies that deliver results.
Her core competencies lie in corporate growth strategies, sales and marketing efficiency, acquisitions and post-merger integration, and cost reduction. Nandini holds an MBA in Finance from MIT School of Business. She also holds a Bachelor’s degree in Electrical Engineering from Nagpur University, India.
Nandini is the author of several publications and has been quoted in magazines such as Beverage Industry, Bloomberg and Wine Industry Advisor.
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