Global Food Enzymes Market-Growth, Trends and Forecast (2015-2020)
The growing demand for processed foods and increasing health consciousness in the people is driving the food & beverages industry which inturn is driving the food enzymes market. Food enzymes are a major food additives which convert complex molecules in to simpler ones in our diet.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. Food enzymes are sourced from micro-organisms and new technologies are emerging to produce genetically modified organisms strains. The enzymes thus produced are anticipated to perform in adverse operational conditions, thus improving process efficiency. 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. In terms of regions, North America leads the market with a share of 35% followed by Europe and Asia Pacific which constitute 28% and 25% of the global share. In North America, US constitutes the largest market. Asia-Pacific, Latin America and Africa are expected to be the fastest growing regions for enzymes with India, Brazil and South Africa expected to become growing markets. The rising disposable incomes, demand for convenience foods and increasing awareness of nutrition enabled products is expected to drive the market for food enzymes in these countries. Europe is expected to see a slow growth as the European Union has recently imposed a legislation to assess the risks associated with the use of enzymes in food 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. Key Deliverables in the Study • Market analysis for the Global 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 Global 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.