New York, NY -- (SBWIRE) -- 10/11/2018 -- Global Bakery Enzymes Market Scenario
Future Market Insights delivers key insights and presents a revised forecast of the global bakery enzymes market for a 10-year period from 2018 to 2028 for the report titled 'Bakery Enzymes Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028'. Revisions in the bakery enzymes market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants. The global bakery enzymes market is estimated to be US$ 733.3 million in 2018, and is expected to reach US$ 1,285 million by 2028, with a CAGR of 5.8% during 2018-2028, revised from the previous CAGR of 4.2%, due to factors regarding which FMI offers useful insights in detail in this report.
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The bread producing industry is witnessing substantial development on account of the increasing population, thus positively impacting the global baking enzymes market growth. Food products like burgers, pizzas, and sandwiches are consumed in abundance by customers, and these needs are fulfilled by retailers like Subway, Pizza Hut, etc., where the use of bread is large in quantity. Consequently, these factors are going to be the driving force of the bakery enzymes market during the period of forecast.
The demand for breads of reliable quality having a better shelf-life have led to the use of additives like enzymes, emulsifiers, etc. Datem emulsifiers (baking emulsifiers) have been used to enhance bread volume, texture, and dough stability. However, there has been an increased interest in bakery enzymes, as researchers are more attracted to bakery enzymes, as the enzymes used in baked goods are denatured while baking, and are not noticeable in the product obtained; means, they can be labelled as clean label products that do not list E numbers of additives on the list of ingredients. More and more manufacturers are entering the bakery enzymes market, as the market is gaining significant traction. Some of the key players in the bakery enzymes market are Corbion N.V., Royal DSM, Purato Group, Novozymes, Advanced Enzymes, and Amano Enzymes, among others.
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The global bakery enzymes market witnesses a major contribution from enzymes like carbohydrase and protease. Bakery enzymes are used in a large spectrum of products such as breads, biscuits & cookies, cakes and pastries, and flour preparation. Among all the segments mentioned, bread is predicted to represent more than 65% of the volume share of the overall bakery enzymes market by 2028. Due to the increasing consumption of ready-to-eat products, fast food products like pizzas, burgers, sandwiches, etc., the demand for bakery enzymes is predicted to grow at the highest rate.
Moreover, the bakery enzymes market is segmented by product type in this report. Bakery enzyme product types include carbohydrase, protease, lipase, and other enzymes.
The enzyme carbohydrase used in the bakery sector comes from bacterial sources (83% of total), owing to its high thermal stability. For applications in baked goods, the carbohydrase market size was around 67,000 ton in 2015. The global carbohydrase market was valued at US$ 339 Mn in 2017, and is expected to reach around US$ 650 Mn by 2028. FMI projects the fastest growing region for carbohydrase baking enzymes to be APEJ during the period of forecast, owing to the increasing market, majorly in India and China.
Customer demand for clean label products will drive the demand for bakery enzymes.
The global bakery enzymes market report has been segmented by geography into seven regions, namely, APEJ (Asia Pacific excluding Japan), MEA (Middle East & Africa), Japan, Latin America, North America, Eastern Europe, and Western Europe.
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Western Europe, North America, and APEJ, together, constitute more than 85% of the bakery enzymes market share. Currently, North America is the largest bakery enzymes market in terms of both, size and volume, and is expected to dominate throughout the forecast period. However, APEJ would emerge as the liveliest market for bakery enzymes in terms of absolute increment, ahead of every other region. Producers are targeting the emerging economies of APEJ, LA, and MEA, as these regions are considered as the underdogs of the market.
There is an increasing trend towards bakery enzymes in bakery products like breads, biscuits & cookies, caked & pastries, and baked goods, as customers are increasingly inclined towards healthier food and suitable bakery options that are low in sugar and comprise nutritive ingredients. Government guidelines are extremely supportive towards the use of clean label products. Consequently, there are multiple supply side and demand side drivers powering the expansion of the global bakery enzymes market. Due to trends like 'out-of-home, to go arena', which have witnessed a sharp increase in the past few years, bakery products are being increasingly consumed, thus driving the growth of the bakery enzymes market. Furthermore, in certain regions, consumers are more inclined towards organic food products. The production of bakery enzymes for organic and gluten-free breads are trending. For instance, Royal DSM, a major player in the bakery enzymes market, has designed a special product portfolio of bakery enzymes suitable for organic labelling, compliant with EU and USA legislations for bakeries wanting to develop organic breads. The key markets for bakery enzymes are located in North America, China, India, Southeast Asia, and Europe.