The global food enzymes market is expected to rise considerably owing to extensive adoption of clean-labeled and natural ingredients in food and beverage industry. Fortune Business Insights, in its latest report, titled“Food Enzymes Market Size, Share and Industry Analysis, By Source (Microbes, Plants, and Animals), Type (Carbohydrases, Proteases, Lipases and Others), Application (Bakery, Dairy, Beverages, Nutraceuticals and Other Processed Foods), and Regional Forecast, 2020 2027.”,further observes that the market value stood at USD 1,695.65 million in 2019, which is likely to hit USD 2,393.64 million by 2027, while exhibiting a 4.70% CAGR during the forecast period.
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What does the Market Report Include?
The market report includes an exhaustive study of several factors
such as drivers, restraints, challenges, and opportunities that will affect the
growth of the market in the forthcoming years. The report covers regional
demographics that include qualitative and quantitative information about the
regions that are further divided into nations that are contributing to the
growth of the market between 2019 and 2026. Furthermore, the competitive
landscape has been discussed in-depth that include information of several
players operating in the market. Moreover, information on the adoption of
strategies such as merger and acquisition, collaboration, partnerships, and
joint ventures by the companies that will drive the growth of the market has
been included during the projected horizon.
Food enzymes play an important role in sustaining life as all the
biological reactions occurring within the human cells depend on them. In
addition to this, they break down large molecules of proteins, fats, and
proteins into a smaller fragment of molecules that can be easily absorbed by
the small intestine within the human body. It is to note that without enzymes,
the body would find it difficult to digest food while leading to food
intolerance. Therefore, enzymes are vital and promote proper food digestion and
work well to relieve certain stomach disorders such as irritable bowel syndrome
(IBS).
Drivers and Restraints:
Increasing Consumption of Clean-Labeled Food to Surge Demand
According to the European Food Safety Authority (EFSA), long-term
exposure of chemicals at high concentrated levels through food may have a
toxicological effect on humans. Though they are essential building blocks,
synthetic chemicals as additives have an adverse effect on health when consumed.
Increasing awareness among people regarding the health concerns associated with
the consumption of synthetic ingredients is expected to surge demand for
clean-labeled food across the globe. The gradual shift of the consumers from
chemical ingredients to naturally processed food products that are safe and
healthy will boost the demand for food enzymes in the forthcoming years. For
instance, in October 2019, Tiny Organics, a U.S.-based direct to consumer
brand, announced its launch of organic plant-based recipes that are healthy for
toddlers. The recipes include baby burrito bowls, pumpkin spice oatmeal, and
coconut curry induced dishes.
Regional Analysis:
Increasing Demand for High-quality Processed Food to Augur Growth
in North America
Among the regions, North America is anticipated to remain dominant
and register high global food enzymes market revenue in the forthcoming years.
This is ascribable to factors such as growing demand for naturally occurring
ingredients. Additionally, increasing demand for high quality processed food
and rising investment s from manufacturers to develop innovative products is
likely to drive the market growth in the region. Asia-Pacific, on the other
hand is likely to register steady growth for the market during the forecast
period. This is attributable to factors such as growing demand for bakery and
dairy products.
Competitive Analysis:
Joint Ventures Among Companies to Spur Demand for Food Enzymes
In November 2019, Cargill along with DSM announced its plan to
enter into a joint venture. Avansya, the joint venture between the two giants
is about constructing a commercial facility to manufacture stevia sweeteners
through the fermentation process. The companies are likely to consolidate their
position with their collaboration by setting up the 10,000 sq. ft. plant that
costs around USD 50 million, located at Blair, Nebraska. Adoption of strategies
such as joint ventures, product launches, and expansion of product offerings by
the companies to cater to the increasing consumer demand is likely to favor the
global food enzymes market growth between 2020 and 2027.
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Complete Report:
https://www.fortunebusinessinsights.com/food-enzymes-market-102835
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