Market Size of Australia Food Enzymes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.80 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Food Enzymes Market Analysis
The Australian food enzymes market is projected to register a CAGR of 6.8% during the forecast period (2020-2025).
- The key factors driving the market studied include innovations in food technology in the country and the growing awareness about the betterment of product quality when enzymes are used. PH levels highly affect the enzymes. For example, extremely high or low pH values may result in a complete loss of activity for most enzymes. The optimum pH level varies greatly from one enzyme to another and the location where the enzyme is working, thus, resulting in the failure of producing the desired product.
- One of the major drivers of the market studied is the use of food enzymes for fermentation, as the food and beverage industry offers a variety of fermented foods, such as yogurt, tempeh, bread, and beverages (such as alcoholic drinks).
- The genetically modified enzymes are usually associated with long-term health effects, which resulted in a setback for the growth of the industry. However, as the food safety authorities are issuing standards for enzyme consumption, the consumers have started accepting the products treated with GM enzymes.
