Food Enzymes Market to Reach 3,257.57 USD Million by 2028

The Global Food Enzymes Market is expected to reach 3,257.57 USD Million by 2028, growing at a CAGR of 6.6% from 2022 to 2028. The increasing demand for processed foods and improving food quality is anticipated to augment the growth of the market during the forecast period.

Key Findings:

• The carbohydrases segment held a significant share in 2021. This is attributable to the increasing use in various industries such as bakery & confectionery, dairy, and processed food. Further, they are cost-effective, need less time & space consumption, and also ease modification and optimization of the process.
• The food segment is projected to grow at a considerable CAGR during the forecast period. This is attributable to the increasing application of enzymes in the food & beverage industry applications such as dairy products, meat processing, nutraceuticals, bakery products, and other food products.
• The microorganism segment held a significant share in 2021 since they are more cost-effective, stable than plant & animal-based enzymes and they can easily be produced with the use of several fermentation techniques like solid-state and submerged fermentations.
• Asia Pacific is expected to grow at the fastest CAGR during the forecast period. China accounted for the largest share in APAC in 2021. This is attributable to the rise in the increasing purchasing power of consumers in the region owing to the growing urbanization and industrialization in economies such as China and India. Furthermore, the increased adoption of the western diet is also anticipated to support the regional growth of the market.

Some of the key players in the Food Enzymes market include Novozymes (Denmark), Aum Enzymes (India), BASF SE (Germany), Associated British Foods PLC (UK), Kerry Group PLC (Ireland), Amano Enzyme Co. Ltd. (UK), Advanced Enzyme Technologies (India), Royal DSM N.V. (Netherlands), Dow Chemical Company (U.S.), DuPont (U.S.), Chr. Hansen Holding A/S (Denmark).

The increasing demand for processed foods and improving food quality are anticipated to augment the growth of the Food Enzymes market in the years to come. This is attributable to the changing lifestyles, increase in the number of working women, and higher out-of-home consumption in urban areas. Further, the increasing penetration of the organized retail sector across the globe is also expected to drive the demand for food enzymes. Additionally, the increase in adoption of environment-friendly production processes in order to reduce waste and save energy in the food industry along with increased demand from food and feed industries are also supporting the market growth.

However, the restricted temperature and pH operational range and stringent regulatory framework along with changes in food enzymes safety regulations in Europe is expected to hamper the growth of the market in the years to come. Moreover, an increase in innovative technological platforms along with growing demand for nutraceutical products is expected to create immense opportunities for the growth of the market within the forecast period.

North America held the largest shares in 2021. The US held the largest share in North America for the Food Enzymes market. This is attributable to the rising consumption of meat and meat products in the region. Furthermore, the presence of key leaders of enzyme production and consumption in the region is also expected to fuel the regional growth of the market. Additionally, increasing expenditure on quality products and increasing preference for processed foods by consumers in the region is also expected to support the growth of the Food Enzymes market in the region.