How will Protein Engineering Impact the Food Enzyme Market?

12 November 2020

The use of enzymes as a substitute for organic solvent is expected to boost the growth of the food enzyme market globally. Development in protein engineering is increasing the application of enzymes across industries. Microbial enzymes are sourced through large-scale fermentation processes that are considered as a major revenue contributor in the food enzyme market. The microbial segment is witnessing fastest growth of over 6% in the potential markets of APAC and Latin America. Prostease, carbohydrases such as amylase and cellulase are some of the widely utilized enzymes across industries. The food and beverage industry is the largest market for food enzymes with a wide range of applications such as brewing, baking, tenderizing, fermentation, and more. The rising number of meat consumption across the geography is contributing to the growth in incremental revenue in the food enzymes market during the forecast period. Government is utilizing the resources and technology support to remain competitive in the food enzyme market. The persisting demand-supply gap in the market, countries such as India and Brazil are offering revenue generating opportunities for domestic and regional market players in the food enzymes market. Players are looking for market capitalization due to heavy competition in the enzyme market.

Some Key Insights from the Market Include:

  1. Carbohydrase dominated the industrial enzyme market with around 36% market share in 2019 and is expected to add around $0.68 billion by 2025.
  2. The affordable production and proven results promoted the microorganisms as favorable enzyme sources for end-user industries that is expected to pose an absolute growth of around 40%.
  3. The demand for sustainable and eco-friendly fuels is driving the market for enzymes like lipases in biofuel segment that is expected to grow over 6% during the forecast period.

Read: Industrial Enzymes Market Global Outlook and Forecast 2020-2025

Increasing Applications in Food & Beverage Industry

The use of enzymes in the food industry has been prevalent for decades and potential opportunities are still being explored in the food enzyme market. The volume and variety of enzymes used in the industries have drastically increased and significantly witnessing growth in the food enzymes market. Enzymes are also utilized for fermentation and preservation of food products. Market players are focusing on formulating innovate new enzymes that can help to avoid food wastage. Vendors such as Chr. Hansen are developing signature and ground-breaking enzyme-based solutions for preserving and extending the shelf life of food products. Catalase enzymes, which are usually derived from microbial sources or bovine livers, are used for converting hydrogen peroxide into water and molecular oxygen during cheese production. The increased application of these enzymes across the industry will boost revenues in the food enzymes market over the next few years.

Impact of COVID-19

In 2020, the emergence of COVID-19 halted all manufacturing and production activities of enzymes in the market. The disruption in the supply chain has stunned the growth of the food enzyme market. During the pandemic there is a consistent demand for staples such as food and beverage and dairy products, the decline in exports and imports has affected the growth of food enzyme market. Companies such as AB Enzymes is striving to meet the market demand in this pandemic and safeguarding their employees’ health which is the utmost priority of every organization during the ongoing coronavirus pandemic. Industries are expected to resume full-fledged operation by 2021 and vendors are recommended to plan strategies that will enable them to cater to the sudden rise in demand from cosmetics, biofuel, and leather industries.

Read: Industrial Salt Market Global Outlook and Forecast 2020-2025

FAQs about Industrial Enzymes Market:

Q. What is the market size of the industrial enzymes?

A. The industrial enzymes market size will reach revenue of around USD 8 billion by 2025.

Q. What is the market growth of industrial enzymes?

A. The industrial enzymes market is projected to grow at a CAGR of 5.5% during the forecast period.

Q. What is the global market segmentation of the industrial enzymes?

A. The industrial enzymes market is segmented by type, source, end-users, and geography.

Q. What is the market insight of the industrial enzymes?

A. 61% of global consumers are worried about climate change, over 65% of them are willing to make a positive change in their lives, which in turn, can be achieved through sustainable utilization of enzymes in industrial activities.

Q. What are the major regions in the global industrial enzymes market?

A. The leading regions in the industrial enzymes market include North America, Europe, APAC, Latin America, and Middle East & Africa.

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