Food Enzymes Market by Product, Application, and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40529

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The food enzymes market size has the potential to grow by USD 1.29 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This food enzymes market research report provides a detailed analysis of the market by product (carbohydrases, protease, lipase, and others), application (processed foods, beverages, animal feed and poultry, dairy, and bakery), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Advanced Enzyme Technologies Ltd., Alticor Inc., Associated British Foods Plc, BASF, Chr. Hansen Holding AS, DowDuPont Inc., Maps Enzymes Ltd., Novozymes AS, Puratos NV, and Royal DSM.

Statistical Analysis of Food Enzymes Market

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Market Competitive Analysis

The food enzymes market is fragmented. Leading market players are focusing on M&A to consolidate their position and increase food enzymes market demand. DowDuPont Inc., Maps Enzymes Ltd., Novozymes AS, Puratos NV, and Royal DSM are some of the major market participants. According to the food enzymes market report, the increasing demand from the beverage industry will offer immense growth opportunities, high prices affecting product consumption will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this food enzymes market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this report also provides information on the upcoming food enzymes market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This food enzymes market research report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Advanced Enzyme Technologies Ltd.
  • Alticor Inc.
  • Associated British Foods Plc
  • BASF
  • Chr. Hansen Holding AS
  • DowDuPont Inc.
  • Maps Enzymes Ltd.
  • Novozymes AS
  • Puratos NV
  • Royal DSM

Food Enzymes Market: Segmentation by Region

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North America was the largest food enzymes market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of a developed food and beverage industry which supports the product demand, changing lifestyle, and increasing disposable income of consumers will significantly influence food enzymes market growth in this region.

Over 34% of the market’s growth will originate from North America during the forecast period. The US is a key market for food enzymes in North America. Market growth in this region will be faster than the growth of the market in Europe and South America.

Food Enzymes Market: Segmentation by Product

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Carbohydrases include alpha- and beta-amylase, glucoamylase, cellulases, lactase, hemicellulases (including xylanases and others), glucose isomerase, pectinase, and other enzymes that have the ability to break down carbohydrates such as cornstarch into simpler units. The rising consumption of amylase, alpha-galactosidase, lactase, and other enzymes in the brewery and dairy industries will fuel the growth of the food enzymes market in this segment.

However, market growth in the carbohydrases segment will be slower than the growth of the market in the protease segment. This report provides an accurate prediction of the contribution of all the food enzymes market segmentation.

Food Enzymes Market Dynamics

The usage of food enzymes in the beverage industry will be a significant factor driving the growth of the food enzymes market size. The usage of food enzymes in the beverage industry is increasing due to its extensive use in the production of alcoholic and non-alcoholic drinks. Also, the use of enzymes is a crucial component in the brewing industry. The most common food enzymes used in brewing are beta-glucanase, protease, alpha-amylase, and beta-amylase. These are also used in the beverage industry for the extraction of fruit and vegetable juices. For instance, pectinases are used in the production of apple and pear juice, as well as for extraction of juice from berries and tropical fruits. In addition, in the wine industry, pectinases are employed to increase juice yield, and beta-glucanase is used for clarification and filtration. As a result, the range of applicability of food enzymes is expected to increase in the brewing industry.

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Key Highlights of the Food Enzymes Market Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive food enzymes market growth during the next five years
  • Precise estimation of the food enzymes market size and its contribution to the parent market
  • Food enzymes market facts & figures and accurate predictions on upcoming trends and changes in consumer behavior
  • Estimation of potential opportunity for food enzymes market by product, application, and geography
  • Identification of key countries across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of food enzymes market vendors 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The food enzymes market growth will increase by $1289.65 million during 2019-2024.
The food enzymes market is expected to grow at a CAGR of 7.62% during 2019-2024.
Technavio has segmented the food enzymes market by product (Carbohydrases, Protease, Lipase, and Others) and geographic (North America, APAC, Europe, South America, and MEA).
Advanced Enzyme Technologies Ltd., Alticor Inc., Associated British Foods Plc, BASF, Chr. Hansen Holding AS, DowDuPont Inc., Maps Enzymes Ltd., Novozymes AS, Puratos NV, Royal DSM are a few of the key vendors in the food enzymes market.
North America will register the highest growth rate of 34.14% among the other regions. Therefore, the food enzymes market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the food enzymes market growth are:
  • Increasing demand from the beverage industry
The food enzymes market vendors should focus on grabbing business opportunities from the carbohydrases segment as it accounted for the largest market share in the base year.
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