Food Enzymes Market
Food enzymes market to accumulate heavy returns from the F&B sector, global industry to be characterized by facility expansion strategies over 2017-2024
Focusing on the shifting trends toward the consumption of healthy and quality food, pivotal contenders of food enzymes market have lately been making heavy investments in the development of innovative product solutions. Taking into account the escalating business opportunities in this vertical, biotech firms have also been penetrating food enzymes industry. A recent instance justifying the same is that of Novozymes, one of the leading producers of enzymes, focusing on product innovation preferentially for food and beverage applications, for which the firm has developed technology and innovation centers across major geographies.
North America Proteases Enzymes Market, By Application, 2016 & 2024, (Kilo tons)
Novozymes’ strategy has helped core food enzymes market players realize that the establishment of innovation centers may prove highly useful to develop legally approved products. More precisely, earlier in most of the European countries, food enzymes were regulated as processing aids, however, recently, safety regulations have been set up for enzyme production and usage. On these grounds, enzyme manufacturers have been setting up new research labs to manufacture products that adhere to the standard norms. The collaborative contribution of regulatory bodies, end-users, and industry players will have significant impact on food enzymes market share.
Speaking along the same lines, recently, Archer Daniels Midland Co. commenced a new enzyme laboratory in California to provide global access to advanced research facilities for the scientific community regarding nutrition and food science. In addition to promoting R&D activities, the firm has signed on an additional agreement with Qingdao Vland Biotech Group Co., Ltd. to develop and commercialize enzymes for maintaining nutrition and health of living organisms.
Get a Sample Copy of this Report@ https://www.gminsights.com/request-sample/detail/2477
Since the last few years, the F&B sector has been witnessing a huge demand for enzymes, however, the time frame has also observed a substantial wastage of edible food. In response to this, many biotechnology companies are establishing innovation centers for developing enzymes that could tend to minimize the food wastage. For instance, a month ago, the well-known biotechnology company, Novozymes inaugurated a new Innovation and Technology Center in Turkey for producing enzymes which could help curb food waste across the MEA region.
As per estimates, last year, the F&B sector has witnessed a 9% growth owing to the increasing number of developments in the baking and brewing businesses across MEA. The data received from Bread Producers Federation of Turkey claims that 10% to 20% of loaves of daily produced bread is wasted due to the inflexibility of flatbread. In accordance, the Innovation and Technology Center plans to enhance the durability of bread and improve the crumb quality. By using newly developed enzymes, bakers will now be able to manufacture healthier and tasty bread. The increasing usage of enzymes in various bakery products will thus have a commendable impact on food enzymes industry. Indeed, estimates have it on record that food enzymes market size from bakery applications will grow at a CAGR of 8% over 2017-2024.
With the favorable involvement of biotechnology companies, food enzymes market magnates plan to develop a diverse variety of products that will help them attain appreciable gains. The development of research centers to avoid food wastage and the subsequently rising production and acceptance of qualitative consumable food are certain to help augment food enzymes market outlook in the ensuing years. As per statistics, food enzymes industry size will be pegged at a revenue of more than USD 3.6 billion by the end of 2024.
Author Name : Sunil Hebbalkar
Enzymes market to register significant proceeds from food & beverage applications, global industry revenue to exceed US$10 billion by 2024
Being one of the most diverse and essential component of numerous end-use industries, the enzymes market has witnessed unprecedented growth over the past decade. The importance of these chemical elements during the production of distinct household and industrial products, particularly for achieving desired properties, has fueled their demand. Increased consumption of food and beverage products, cosmetics, pharmaceuticals and several home care products have propelled the enzymes market revenues.
U.S. Enzymes Market, By Product, 2017 & 2024 (USD Million)
Consistent development of efficient production methods and innovative applications to cater to various unmet needs of emerging industries, such as biofuels, has endorsed the advantages of these catalysts. Rising disposable incomes around the world will certainly stimulate manufacturers to expand production capacities, inadvertently benefiting the enzymes industry.
Owing to the continuous shift in consumer and lifestyle trends, coupled with the rapidly growing population, processed and packaged food products have gained enormous momentum in recent years. Food and beverage industry has contributed significant proceeds towards the enzymes market, as more sustainable production of bakery, confectionary and several dairy products is made possible by these catalysts. Even the brewery industry represents a potentially large consumer of enzymes, which can easily be added to any prevalent brewing processes followed by producers. Subsequently, unwavering demand for popular processed food products and drinks will warrant a reliable customer base for the enzymes industry.
Unveiling the scope of the global enzymes market with respect to the food and beverage segment
Worldwide, a broad range of dairy products are consumed by all age groups, from liquid products to cheese, butter and other solid consumables. Enzymes have found their way into the production processes of distinct cheese products such as cheddar, mozzarella and several other kinds. With dairy products being used in innumerable food recipes, the segment indicates a sustainable target for players in the enzymes industry. It was reported that more than US$45 billion worth of dairy products had been exported globally in 2017, where Germany itself had registered nearly US$4.4 worth of cheese exports in the year.
Manufacturing baked consumables such as cookies and snacks involve notable investments in facility and equipment, making it an imperative for the producer to control the cost and the quality of products. Enzymes can help to speed up the baking process while keeping the costs low, along with enabling more sustainable production of snacks and biscuits. As reported by the Association for Packaging and Processing Technologies, the snacks segment is expected to display the fastest growth among all the packaged food segments over the coming years.
Get a Sample Copy of this Report:@ https://www.gminsights.com/request-sample/detail/743
Enzymes, including proteases and amylases, are deployed in the brewery industry for simpler and faster production of beer and to ensure a more sustainable brewing process. Providing a more cost-friendly production method by allowing to replace malt with unmalted barley, the enzymes industry has garnered significant pull from the beer industry. In 2017 nearly 1.95 billion hectoliters of beer was produced globally, confirming the massive demand potential for the enzymes market, supported by the presence of several large producers in the U.S., Germany, China as well as the existence of hundreds of emerging players across every region.
The juice industry utilizes enzymes for enhancing the yield of fruit pulp and clarification of the juices, in addition to being a natural way of intensifying the color of the juice being produced and packed. The catalysts also allow for a shorter production period and help to retain the nutritional value, flavor, simultaneously extending the shelf-life and lowering the risk of loss due to microbial decomposition. The lucrative nature of the segment can be determined from the fact that in the U.S., almost 971 million cases of juice and juice drinks are reportedly sold each year.
All in all, with vast populations living in regions such as Asia, Europe and South America, one can surmise the tremendous future for the food and beverage industry, derived from evolving consumption habits and growing international trade. Combining this with continuous growth of other application segments, the enzymes market is projected to accrue more than US$10 billion in remunerations by 2024. Key industry participants include BASF, Novozymes, Danisco and DSM, who are perpetually looking towards advance technologies for offering more improved enzyme products.
Author Name : Pankaj Singh