Food Enzymes Market to See Major Growth by 2026

The global food enzymes market is projected to reach a revenue of USD 3.1 billion by 2026, with a compound annual growth rate (CAGR) of 6.4%. The industry was valued at approximately USD 2.2 billion in 2021. The growing environmental concerns, urbanization, increasing disposable income and advancements in R&D activities led to the growth of food enzymes market. In addition, the advancements in technology such as enzyme engineering and the introduction of genetically engineered enzymes have boosted the growth of food industry. Factors such as the multifunctional benefits of food enzymes across various applications and the technological innovations to reduce the consumption of chemicals contribute to the growth of the global market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=800

Drivers: Increasing demand for processed food

The global demand for processed foods is on the rise owing largely to the growing economies in the Asian continent. China and India are the major drivers behind the substantial growth of the processed food market. The middle-class population is increasing and the rise in their disposable incomes, coupled with a hectic lifestyle, contributes to the growth of this market. Food enzyme applications extend the freshness of end products, thereby prolonging the shelf life of convenience foods while also preserving their flavor, color, and texture.

Opportunities: Innovative technological platforms

The global food enzymes market has many small-scale manufacturers trying to compete with the market leaders in terms of the application specificity of the food enzymes produced. This, in turn, is dependent upon the quality of production strain developed by manufacturers. Various technology licensors provide small-scale manufacturers with the opportunity to produce programmable enzymes, which can be scaled up to produce large volumes. Dyadic International Inc. (US) is one such licensor that provides its C1 platform technology to smaller players to produce large volumes of high-mobility food enzymes on-site.

Fastest Growing Application: Food segment is projected to account for the largest share in the market during the forecast period

The demand for food enzymes is increasing significantly due to the increasing application of enzymes in the food & beverage industry. The food & beverage applications considered for this study include meat processing, dairy products, bakery products, nutraceuticals, and other food products (such as processed fruits & vegetables, processed food, and vegetable oil processing). Process like enzymatic hydrolysis of yeast and vegetable proteins produces peptides and amino acids, which act as taste enhancers in soups, sauces, ready-to-eat meals, canned, and frozen food products. Due to these factors, enzymes in food segment is having huge demand.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=800

Asia Pacific is projected to grow at highest CAGR during the forecast period

The increasing purchasing power of consumers due to the economic development in APAC countries has led to an increase in the demand for high-quality processed food. Hence, due to their characteristics as essential healthy food additives, the market for enzymes in food & beverages is projected to grow. The changes in consumer preferences and liberalization of trade have further fueled the demand for foods like meat and meat products in the country.