What is the global market size of Food Enzymes Market?

Food Enzymes Market size was valued at USD 1.78 billion in 2021 and is poised to grow from USD 1.87 billion in 2022 to USD 2.59 billion by 2030, at a CAGR of 4.80% during the forecast period (2023-2030).

Food Enzymes Market Size, Share, Growth Analysis, By Product(Catalases, Phytases, Lipases, Carbohydrases), By Application(Beverages, Processed foods, Dairy, Bakery), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30I2257 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 69 | Figures: 77

Food Enzymes Market Insights

Global Food Enzymes Market size was valued at USD 1.87 billion in 2022 and is poised to grow from USD 1.96 billion in 2023 to USD 2.85 billion by 2031, at a CAGR of 4.80% during the forecast period (2024-2031).

Food and beverage producers are putting more emphasis on organic food additives like enzymes rather than the usage of chemical additives. According to the Wine Institute, the retail sales of wine in the United States in 2022 were roughly USD 78.4 billion, which was an increase from the USD 66.8 billion in sales the year prior. The development of novel enzymes has increased the number of goods that producers can provide to their end consumers in order to raise the standard of processed foods. The exports of Indian bread, cakes, and other bakery goods increased from USD 346.86 million in 2020 to USD 407.64 million, according to data from UN Comtrade. High dough resistance and processability characteristics are characteristics of food enzymes. By lowering processing losses in the food chain, enzymes contribute to greater resource efficiency. A significant trend promoting the use of the product is the emphasis on sustainability and ethical purchasing practices.

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In order to provide high-quality products that satisfy the demands of contemporary consumers for clean-label items, the major manufacturers are increasing their research and development spending. One of the important methods used by large players to improve their market position is product portfolio expansion, namely with novel enzymes for the baking and dairy industries. 'DSM (Netherlands)', 'Novozymes (Denmark)', 'DuPont (United States)', 'Amano Enzyme Inc. (Japan)', 'Chr. Hansen Holding A/S (Denmark)', 'Kerry Group (Ireland)', 'Jiangsu Boli Bioproducts Co., Ltd. (China)', 'AB Enzymes GmbH (Germany)', 'Specialty Enzymes & Biotechnologies Co. (United States)', 'Biocatalysts Ltd. (United Kingdom)', 'Advanced Enzymes Technologies Ltd. (India)', 'Nagase ChemteX Corporation (Japan)', 'Puratos Group (Belgium)', 'Enmex SA de CV (Mexico)', 'Dyadic International, Inc. (United States)', 'Novact Corporation (Spain)', 'Enzyme Innovation (United States)', 'Megazyme (Ireland)', 'Soufflet Biotechnologies (France)', 'Amicogen, Inc. (South Korea)', 'E.I. Dupont Canada Company (Canada)', 'Lumis Biotech Pvt. Ltd. (India)'

The growing demand for processed food products is a key driver of the food enzyme market. As consumers lead busy lifestyles, they prefer ready-to-eat and convenience foods, which often require the use of food enzymes in processing. Food enzymes are used to improve the texture, flavor, and nutritional value of processed foods, and to enhance the efficiency of processing operations.

The development of new enzyme technologies, such as immobilized enzymes, microencapsulation, and directed evolution, is expected to improve the efficiency and performance of food enzymes. This will enable the development of new applications and expanded use in the food and beverage industry.

In 2022, North America accounted for more than 35% of the global market for food enzymes. During the anticipated time frame, the market for food enzymes is expected to grow significantly due to the rising demand for processed foods in nations like the United States and Canada. Business expansion is being aided by technological developments in the food ingredients sector and significant investments in the development of enzymes. The regional industry share is projected to be fueled by large enzyme production capacity and rising product acceptance in a variety of food applications.

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Food Enzymes Market Size, Share, Growth Analysis, By Product(Catalases, Phytases, Lipases, Carbohydrases), By Application(Beverages, Processed foods, Dairy, Bakery), By Region - Industry Forecast 2024-2031

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