Food Enzymes Market Size - By Product (Proteases, Lipases, Carbohydrases, Polymerases & Nucleases, Phytases, Catalases), By Application (Food & Beverage, Processed Food, Dairy, Bakery, Confectionary) & Forecast, 2024-2032
Report ID: GMI2477
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Published Date: September 2023
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Report Format: PDF
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Base Year: 2023
Companies covered: 17
Tables & Figures: 1899
Countries covered: 26
Pages: 1283
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Food Enzymes Market
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Food Enzymes Market Size
The food enzymes market size crossed USD 3.7 billion in 2023 and is expected to witness 6.8% CAGR from 2024 and 2032, propelled by the rising health-consciousness among consumers along with the surging interest in functional foods as well as beverages. The rising attention to clean label products with natural ingredients is driving the preference for food enzymes made from natural sources, such as plants and microbes. This can mainly be attributed to the growing limitation of synthetic and genetically modified alternatives. The surging focus of food manufacturers on customized enzyme solutions for meeting specific processing and product requirements will also prove favorable for the industry expansion.
Food Enzymes Market Growth Drivers & Restraints
The rising incorporation of enzymes, such as xylanase and lactase in the development of gluten-free and lactose-free products to cater to individuals that have dietary restrictions and food sensitivities will accelerate the industry trends. However, the fluctuating regulatory guidelines in some of the prominent markets worldwide may hamper the product uptake to considerable extent. This can mainly be ascribed to the varying standards, priorities as well as interpretations in the requirements of safety and labeling.
COVID-19 Impact
The COVID-19 pandemic positively influenced the demand and production of food enzymes as it accelerated several consumer trends, making way for the higher interest in clean label as well as natural ingredients. The growing focus of manufacturers on responding to changing consumer preferences by launch of new enzyme solutions and the growing support from prominent regulatory bodies, such as the FDA also proved favorable for the industry development during the pandemic.
Food Enzymes Market Trends
The ongoing R&D efforts for the discovery of new enzymes and bringing improvements in enzyme technologies to assist food manufacturers in creating innovative products and processes will play ideal role in the market growth. For instance, in February 2021, Novozymes rolled out a promising new enzyme-based technology to foray into the biocontrol segment of agriculture for expanding beyond its present base of microbial product innovations. The surging emphasis on discovering enzymes to facilitate sustainable processes, including enzymes for waste remediation, biomass conversion, and biodegradable materials production will also contribute to the industry expansion.
Food Enzymes Market Analysis
The phytase segment of the food enzymes market is poised to record over 8.5% CAGR through 2032, owing to the growing incorporation of phytases in dietary supplements in human nutrition for enhancing the absorption of minerals, such as calcium, iron, and zinc. Given their robust ability to improve dough quality and mineral fortification, phytases are used in the baking industry to reinforce the nutritional value of bread and other baked goods. Rising importance in limiting environmental impacts and increasing the nutritional value of agriculture, animal nutrition, and food processing industries will also add to the segment expansion.
Food enzymes market from the beverage segment is expected to witness 8% growth rate from 2023 to 2032, attributed to the rising incorporation of enzymes in the production of fruit-flavored juices for enhancing the flavor extraction from fruits. The rapid shift to healthier and natural diets has also compelled manufacturers to come up with chemical-free beverages. Rising rate of wine and beer production coupled with the growing demand for fermented beverages, such as kombucha will also favor the segment growth.
Asia Pacific food enzymes market size is anticipated to showcase more than 8% CAGR up to 2032, owing to the rapid industrialization and robust presence of large population mainly in China, Japan, and India. The growing preference for natural and clean label products is driving the demand for naturally sources food enzymes, such as microbial and plant-based enzymes. The rising disposable incomes, higher intake of ready-to-eat products and the emerging regulatory changes and standards related to food enzymes will also accelerate the regional market trends.
Food Enzymes Market Share
Some of the key participants in the food enzymes market include
Food Enzymes Industry News
This market research report on food enzymes includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:
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By Product
By Application
The above information has been provided on a regional and country basis for the following: