Market Size of Food Enzymes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.06 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Food Enzymes Market Analysis
The Food Enzymes market is projected to register a CAGR of 5.06% during the forecast period.
The demand for packaged and processed 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 the nutritional content intact and maintain the shelf life. Apart from this, the increasing penetration of organized retail in urban and rural centers globally drives the food enzymes market. The environment-friendly production process, waste reduction and energy saving in the food industry, and increased demand in food industries are driving the market.
Enzymes have a range of applications that include the production of white bread, rye bread, and maize tortillas, and many such trending products. The demand for food enzymes is anticipated to someday surpass that for other industrial enzymes due to the fast expansion of the global food, beverage, and pharmaceutical industries. Owing to the rising demand for various kinds of enzymes, companies either focus on marketing or creating new food enzyme compositions. Additionally, there has been a surge in popularity of vegan diets across the globe for example, in a Choice Australia study from 2021, 63% of participants responded that they believed meals with labeling as "plant-based" were appropriate for vegans. Plant-based foods were more frequently associated by respondents with sustainability, animal friendliness, and health. Enzymes are also used in the manufacturing of vegan products such as alternative dairy products. Hence, Koninklijke DSM N.V., a science-based corporation operating globally in the fields of nutrition, health, and sustainable living, offers the Delvo Plant line of enzymes for enhancing the flavor, consistency, and sweetness of beverages made from plants. These enzymes, which are a part of DSM's growing portfolio of alternatives to dairy products, provide a distinctive range of advantages, from enhancing protein solubility and lowering viscosity to enhancing mouthfeel and releasing the inherent sweetness of raw materials like rice, soy, and oats. The Delvo Plant enzymes are intended to enable marketers to create successful cereal- and non-cereal-based drinks. From such instances, it is evident that the growing scope of enzymes across various fields is anticipated to boost the growth of the market studied.
