Strong application of food enzymes in Food and Beverages industries for product standardization & uniformity and rise in awareness on health and nutrition in consumers are the key factors expected to witness 7.10% CAGR market growth rate during the forecast period 2018-2025.
London, UK -- (SBWIRE) -- 11/07/2018 -- The global food enzymes market is estimated to be valued USD 2.35 Bn in 2018 and is anticipated to reach USD 3.99 Bn by 2025, at a CAGR of 7.10% during the forecast period.
Precision Business Insights (PBI) in its report titled "Global food enzymes market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 and Forecast 2018-2025" assesses the market performance over eight years forecast period over 2018-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
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Market boosts and restraining factors:
Increasing demand from dairy, fermentation industry, meat processing and alcoholic beverages for various application of food enzymes and rise in adoption of packaged food products by the consumers are major driving factors in food enzymes market. Owing to technology advancements in various food industries in the preparation of new foods is an also a confirmatory factor to for growth of digestive enzymes (Supplements) market. Moreover, increasing population with food requirements across the globe and rise in awareness on healthy diet among population and consumption rate are also expected to witness rise in market value of digestive enzymes market over the forecast period.
The global food enzymes market has been segmented into type of enzyme, source, application and geographical regions.
North America region has largest market share in terms of value in the global food enzymes market
Trend to witness high adoption of packaged food and beverages products, well regulated food and drinks industries and healthy food intake habits among people are expected to increase North America market share during the forecast period.
In Asia Pacific region, huge demand for diary products, packaged food, and beverages coupled with industrialization of food and beverages products with growing population are the major driving factors expected to register highest CAGR value over the forecast period.
Owing to presence of strong players in the Europe region, and their continues product launches in the market, and increasing demand for packaged food and meat products from the populations are the major market driving factors.
Market strategies and global players:
Product launches and merges, acquisitions & collaborations are the key strategies of market leaders in global food enzymes market. Market players present in global food enzymes market are engaged in development of the new whole foods market digestive enzymes and product launches for strengthening their digestive enzyme supplements market position. For instance, in November 2015, E. I. du Pont de Nemours and Company launched Powermill Enzyme, which reduces the wheat conditioning time up to 50% and reduces the consumption of energy up to 10%. Furthermore, companies operating in these market also focusing on mergers, acquisitions and collaborations as their key strategies to increase their market share. For instance, in August 2017, Advanced Enzymes Technologies acquired Evoxx Technologies GmbH to boost its market share in the market.
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Key players in global food enzymes market includes
- Novozymes A/S (Denmark)
- E. I. DuPont de Nemours and Company (U.S.)
- Associated British Foods plc (U.K.)
- Deerland Enzymes (U.S.)
- Dyadic International, Inc. (U.S.)
- Chr. Hansen A/S (Denmark)
- Koninklijke DSM N.V. (The Netherlands)
- Advanced Enzyme Technologies (India)
- Amano Enzyme Inc. (Japan)
- Puratos Group (Belgium)
Key development in the global food enzymes market
In 2013, Novoenzymes Inc. launched food enzyme product, "Acrylaway HihT" used to reduce the acrylamide in food.
Technological advancements and strategic alliances are the key strategies adopted by market players
Whole Foods Market Digestive Enzymes players such as E. I. DuPont de Nemours and Company (U.S.), Novozymes A/S (Denmark) & few others are focusing on untapped markets and geographies to capitalize the Digestive Enzyme Supplements market opportunities along with attaining significant market shares during the forecast period.
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By Type of enzyme
- Processed Food Industry
By Geographical regions
- North America
- Latin America
- The Middle East & Africa
Key Features of the Report:
The report provides granular level information about the market size, regional market share, historic market (2013 to 2017) and forecast (2018 to 2025)
The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
The report tracks recent innovations, key developments and startup's details that are actively working in the market
The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market
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