Phospholipase Enzyme Market: Significant Increase in Use of Enzymes in Food & Beverages Industry to Boost Revenue Growth During the Forecast Period: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028
Valley Cottage, NY -- (SBWIRE) -- 02/20/2019 -- According to the latest market report published by Future Market Insights titled 'Phospholipase Enzyme Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028', revenue generated from the phospholipase enzyme market has been estimated to be valued at over US$ 175.4 Mn in 2018, which is projected to increase at a CAGR of 6.7% during the forecast period (2018-2028).
It has been long observed that the use of enzymes such as phospholipase enzymes, protease enzymes, and lipase enzymes deliver a better end product as compared to the traditional methods of manufacturing. Various food and beverage companies are realizing the potential use of phospholipase enzymes in the development of superior quality products, which is making more processes enzyme-dependent. Thus, the surge in the demand for phospholipase enzymes from the food and beverage industry is the primary factor expected to accelerate the demand for phospholipase enzymes during the forecast period. Key market players like Novozymes have invested in the food & beverage phospholipase enzyme market, recognizing the potential of the untapped market, and have seen substantial growth in enzymatic solutions in the food & beverage market, coupled with a steady increase in vegetable oil production, worldwide, owing to the increase in world population, which are are some of the factors expected to accelerate the demand for phospholipase enzymes in the near future.
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The importance of phospholipase enzymes in egg yolk products, bakery products, and others applications makes them a key ingredient in their manufacturing processes. The tendency of a majority of the population to dine out suggests that, the demand for phospholipase enzyme-based products may shoot up from food & beverage business operators, in turn, increasing the demand for phospholipase enzymes in the near future.
On the basis of source, the phospholipase enzyme market is segmented into animal, botanical, and microbial. In 2017, the microbial segment accounted for the highest revenue share of 68.2%, and is expected to do so throughout the forecast period. By application, the food and beverages segment is estimated to account for a 56.8% value share of the global phospholipase enzyme market in 2018. The food and beverages segment is expected to register a growth rate of 7.0% over the forecast period 2018 to 2028.
On the basis of form, the powder form segment is estimated to account for a more significant growth rate in the global phospholipase enzyme market over the forecast period. On the basis of region, the North American region has been estimated to dominate the phospholipase enzyme market, accounting for a significant revenue share of 29.0% in 2018, followed by Western Europe in the global phospholipase enzyme market.
Macro-Economic Market Factors for Phospholipase Enzyme Market
Increasing Demand & Consumer Preference for Quality Food Products:-
Globally, per capita expenditure on food and beverages by the population has witnessed an increase. The key reason behind increasing per capita consumption expenditure is due to the increasing concerns of consumers about health. Thus, consumers are becoming more concerned about the nature of their food products, as well as making a habit of reading the ingredient labels on the products.
Increasing Demand for Microbial Enzymes:-
Due to the superior quality and lesser environmental impact of microbial enzymes, all while being a cost-effective alternative to animal-derived enzymes, bacterial-derived enzymes are being favored over other sources. Microbial enzymes have gained interest for their wide use in various industries. Moreover, more food manufacturers are opting for microbial-derived enzyme inclusion in their products for high quality, owing to their stability, catalytic activity, and ease of production.
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Key Producers of Phospholipase Enzymes
Some of the major companies operating in the phospholipase enzyme market space are EUCODIS Bioscience GmbH, Bioseutica B.V., Sanyo Fine Co., Ltd., Novozymes A/S, Koninklijke DSM N.V., Chr. Hansen Holding A/S, DowDuPont Inc., AB Enzymes GmbH, Aumgene Biosciences, Genetrix Ingredients, Nagase America Corporation, Enzo Life Sciences, Inc., and others.