Food Enzymes Market Overview:
As per the MRFR reports, The Food Enzymes Market Size is anticipated to reach USD 4124.5 million by 2030, registering a CAGR of 6.4% during 2020-2030.
The food enzymes market has recorded substantial growth over recent times owing to the factors such as the rise in the need for healthy food, growing awareness regarding rich diet, health problems linked with digestive care, product penetration, rise in per capita income, higher productivity, high performance, up-gradation and technological innovation, environmental benefit, shift to healthy food products, softening and digestive, reduced carbon emissions, and increasing use for fermentation. However, the market's growth is likely to be impeded by the high pricing associated, inconsistent and unclear regulatory processes, counterfeiting of food packaging, constraints in the brewing industry, and limitations related to pH range and temperature.
Segment Analysis:
The global food enzymes market is divided into several segments based on application, source, type, and region.
Based on type, the global market is bifurcated into protease, carbohydrase, lipase, and others.
The food enzymes market is split into animal, plant, microorganism, and others by source.
Based on applications, the global market for food enzymes is split into bakery and confectionery, dairy and frozen desserts, sweets and savory snacks, oils, beverages, fats and spreads, ready meals, and others.
Regional Analysis:
The global Food Enzymes Market Outlook is studied across five major regions: North America, South America, Europe, Asia-pacific, and the Middle East and Africa.
The North American region is likely to lead the global food enzymes market due to food enzymes' growing consumption by food manufacturers across the region.
The Asia-Pacific region is likely to record a substantial growth over the review timeframe given the factors such as the adoption of western food culture and rapid globalization and urbanization.
The European regional food enzymes market is projected to record an evident growth over the assessment timeframe due to several food processing and confectionery companies.
The food enzymes market for the South American region is likely to exhibit steady growth over the coming years because of the rising level of disposable income and growing middle-class population.
Recent Developments:
- December 2021- Advanced Enzyme Technologies announced a mutually exclusive distribution agreement with Azelis Singapore Pte. Ltd. for its prebiotics and food enzymes for the food dietary supplement industry in Vietnam, Thailand, Singapore, Philippines, Malaysia, and Indonesia. The whole Time Director at Advanced Enzymes, Mukund Kabra, said that the company could see a brilliant match for their prebiotics and food enzymes for food dietary supplement with Azelis' product portfolio and market position. He further added that the company is confident that this partnership will help offer brilliant customer service, improve market reach, and strengthen the supply chain.
At the same time, Senior Vice President, Marketing Business Development at Advanced Enzymes, Dipak Roda, said that by blending the years of experience of both the firms in their relevant fields, customers would profit with a strong local presence, technical support, faster turnaround and quick service with customized solutions.
- January 2022-- Spero Therapeutics, Inc. disclosed that the US FDA had loosened the clinical hold on the Phase 2 trial of Spero's investigational oral product candidate, SPR720, built for nontuberculous mycobacterial (NTM) disease. Chief Executive Officer of Spero, Ankit Mahadevia, M.D., said that they are happy with this decision and are excited to get SPR720 back into the clinic. He further added that Vast studies, together with preliminary non-clinical and clinical data, help their faith that SPR720 can provide the latest, well-tolerated, oral treatment option for patients going through NTM-PD. Spero would like to thank the FDA for offering its guidance and looks forward to SPR720's renewed clinical development.
Competitive Analysis:
The global market for food enzymes has an intensely competitive landscape with many players spread worldwide. The players across the market are adopting several new strategies to strengthen their market footprint. The list of leading players in the Food Enzymes Market Insights includes companies such as Amano Enzyme Inc. (Japan), Novozymes A/S (Denmark), Puratos Group (Belgium), Koninklijke DSM N.V. (the Netherlands), Chr. Hansen A/S (Denmark), Dyadic International, Inc. (U.S.), Associated British Foods PLC (U.K), Advanced Enzymes (India), and E. I. du Pont de Nemours and Company (U.S.), among several others.
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