Food Enzymes Market will exhibit a CAGR of 4.70%, and reach USD 2,393.64 million by 2027,and the market value as per 2019 was USD 1,695.65 million.
Fortune Business Insights™ titled, “Food Enzymes Market Size, Share & 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,”
Food Enzymes Market Drivers and Restraint :
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.
List of Significant Food Enzymes Market Manufacturers are as follows:
- Novozymes (Denmark)
- DuPont (U.S.)
- Hoffmann-La Roche Ltd. (Switzerland)
- AB Enzymes (Germany)
- Koninklijke DSM N.V. (Netherlands)
- Hansen Holding A/S (Denmark)
- BASF SE (Germany)
- Nutritech Enzymes (Finland)
- Amano Enzymes, Inc. (China)
- Biocatalysts (UK)
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Some of the key industry developments in the Food Enzymes Market Include:
- March 2019: AB Enzymes, a leading biotech company, announced its launch of a new enzyme product, ROHALASE. The new enzyme will limit the need for chemicals to extract oil from seeds such as sunflower, soy, and canola, among others while helping the company to deliver high yields.