Canada Food Enzymes Market-Growth, Trends and Forecast (2015-2020)
The food enzymes market was valued is expected to reach US$ 2695 million by 2020, with a CAGR of 8.1% for the forecast period of 2015-2020. North America leads the food enzymes market with a share of 35% followed by Europe and Asia Pacific which constitute 28% and 25% of the global share. Food enzymes market in Canada is expected to grow at a CAGR of ~ % from 2015-2020 and reach a value of US$ ~ million by 2020. The demand for processed and packaged foods is growing with the need to provide food security and safety. However, due to complexities in the global food supply chain, there is a need to add food additives to keep intact the nutritional content and maintain the shelf life. Apart from these reasons, the increasing penetration of organized retail in urban and rural centers globally seem to drive the need for food enzymes. The key restrains the market faces is in terms of unclear regulatory process and high Research and development costs. The report is segmented based on enzymes types which include Carbohydrases, proteases and Lipases. , carbohydrases dominate the market followed by proteases and lipases. Food enzymes find major application in Bakery, Dairy & Frozen products, Enzymes, Meat products, Oils and Fats among others. Bakery is the largest application market, as food enzyme are used to improve dough stability and shelf life of end products. Increased use of enzymes in cheese processing is driving the use of enzymes in dairy industry, which is the second largest application market followed by the beverages industry. Some of the players who have been profiled in this report include AB Enzymes, Novozymes, Sunson Industry group, Cargill, Tate & Lyle among others. The market sees opportunities for growth in emerging and developed nations as food enzymes reduce water, energy and wastage costs. The market needs amendments to develop a set of guidelines to regulate the market. In this rKey Deliverables in the Study • Market analysis for the Canada food enzymes Market, with region specific assessments and competition analysis on global and regional scales. • Market definition along with the identification of key drivers and restraints • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale • Extensively researched competitive landscape section with profiles of major companies along with their market shares • Identification and analysis of the macro and micro factors that affect the Canada food enzymes Market on both global and regional scales • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.