Specialty Enzymes Market Size

Specialty Enzymes Market Analysis

The Specialty Enzymes market is projected to witness a CAGR of 7.6% over the next five years.

Enzymes are proteins that exist in the body of all living organisms, including humans, that function as catalysts. On the other hand, enzymes are necessary substances for vital activities and help many of the complex and diverse activities in substance metabolism. Growing consumer health consciousness has increased consumption of functional food products, which is predicted to have a favorable impact on the demand for enzymes over the forecast period. In March 2021, International Flavors & Fragrances Inc. announced the launch of Enovera 3001 enzyme as the newest addition to its ingredients for the bakery industry range. The new enzyme offers a label-friendly formulation for strengthening the bakery dough without compromising on its texture and taste. Over the past 10 years, the demand for enzymes has increased due to the natural flavor and taste of food items as well as unique food products, which has led to market expansion. The product is used for a variety of purposes, including the clarity of fruit juice, brewing germination, making cheese, pre-digesting infant food, and tenderizing meat. Additionally, the imminent population boom, increased food quality, and greater consumer awareness of nutritional requirements are all expected to have a beneficial impact on market growth.

The market is witnessing rapid growth due to the increasing demand for processed food in the country and the wide applications of enzymes in the processed food industry. Moreover, innovation in food technology in the country and increasing awareness about better-quality products being manufactured by utilizing enzymes are further driving the market. For instance, DSM launched a new range of baking enzymes, specifically formulated for gluten-free applications, that improve the softness and moistness of bread. These enzymes are also used in further applications, such as corn tortillas, rye bread, and white bread. The rapid growth of India's food, beverage, and pharmaceutical industries has supported this expansion, and the demand for food enzymes is eventually expected to surpass the demand for industrial enzymes. The majority of these businesses either specialize in marketing or formulations of food enzymes. Moreover, the sports nutrition industry has been expanding at a rapid pace for the past few years due to increased health awareness and a high preference for an active lifestyle.