What Is The Definition Of The Global Food Enzymes Market?
Food enzymes are unique proteins that serve as catalysts in different biochemical reactions involved in food processing and digestion. They facilitate chemical reactions without being used up. These enzymes assist in decomposing complex molecules into simpler ones, improving the texture, flavor, appearance, and nutritional quality of food.
Food Enzymes Global Market Report 2024 provides data on the global food enzymes market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Food Enzymes market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Food Enzymes Market Size And Annual Growth Rates?
The food enzymes market size has seen strong growth, rising from $2.40 billion in 2023 to $2.58 billion in 2024, with a compound annual growth rate (CAGR) of 7.2%. This growth can be attributed to increasing awareness of the health benefits associated with enzyme-enhanced products, expansion in the global food and beverage industry, regulatory approvals for enzyme use, innovations in enzyme production methods, and a heightened focus on sustainability and cost-effectiveness in food production. The market is projected to experience continued robust growth, reaching $3.41 billion by 2028 at a CAGR of 7.3%. The forecasted growth is driven by rising consumer demand for clean-label and plant-based products, growing awareness of the health benefits of enzyme-rich diets, expanding applications in functional foods, increased adoption of enzyme technology for food preservation and waste reduction, and advancements in biotechnological innovations that enhance enzyme production efficiency. Major trends expected include progress in enzyme engineering, focus on personalized nutrition solutions utilizing enzyme technology, introduction of novel enzyme formulations, use of enzyme-based solutions for reducing food waste, and integration of advanced biotechnological techniques to enhance enzyme functionality.
Which Key Drivers Are Propelling The Food Enzymes Market's Growth?
The increasing demand for processed food products is anticipated to propel the growth of the food enzyme market. Processed food products, which undergo various mechanical, physical, or chemical alterations, are in rising demand due to fast-paced lifestyles, technological advancements in food processing, urbanization, and higher disposable incomes. Food enzymes act as catalysts in these processes, accelerating chemical reactions without being consumed. For instance, Agriculture and Agri-Food Canada reported that in 2022, exports of processed food and beverage products reached a record high of $54.3 billion, marking a 14.1% increase from 2021 and representing 34.7% of the total production value. Consequently, the increasing demand for processed food products is driving the growth of the food enzyme market.
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What Are The Key Segments Within The Global Food Enzymes Market?
The food enzymes market covered in this report is segmented –
1) By Type: Carbohydrase, Lipase, Protease, Other Types
2) By Source: Microorganisms, Animals, Plants
3) By Formulations: Powder, Liquid, Other Formulations
4) By Application: Bakery Products, Beverages, Dairy Products, Processed Foods, Confectionery Products, Other Applications
How Are New Trends Impacting The Size Of The Food Enzymes Market?
Major companies in the food enzyme market are focusing on advanced solutions such as lactase technology to improve lactose-free dairy product production. Lactase technology involves using lactase enzymes to break down lactose into simpler sugars during food processing. For example, in May 2023, DSM-Firmenich, a US-based nutrition and health company, introduced Maxilact Next, an advanced lactase enzyme. This new enzyme is about 25% faster than its predecessor, reducing hydrolysis time by the same percentage at equivalent dosages. This advancement enables lactose-free dairy producers to enhance production efficiency, expand capacity, and optimize resources while maintaining product flavor. Maxilact Next complements the Maxilact portfolio, leveraging over five decades of expertise in lactose-free dairy production.
Which Region Drives The Highest Growth In The Food Enzymes Market?
North America was the largest region in the food enzymes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
