Cibi e Bevande
Food Enzymes Market to Reach $3.05 Bn, Globally, by 2026 at 5.6% CAGR: Allied Market Research
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Based on application, the beverages segment garnered the major share, contributing to more than two-fifths of the total market. High demand for enzymes during brewing of alcohol has driven the growth. The bakery products segment, on the other hand, is expected to grow at the highest CAGR of 7.2% through 2019-2026. Use of food enzymes to extend shelf life of bakery products have resulted in widespread application of food enzymes in the segment.
The microorganism segment to rule the roost-
Based on source, the microorganisms segment held the major share, accounting for nearly three-fourths of the total market share. This segment is also projected to grow at the fastest CAGR of 5.9% during the forecast period. Wide spectrum of chemical and physical characteristics, lower production cost, large-scale production in industrial fermenters, rapid culture development and possibility of genetic manipulation have spurred the growth.
North America to lead the trail during the study period-
Based on region, North America contributed to nearly two-fifths of the total market share in 2018 and is expected to dominate throughout the forecast period. High adoption of food enzymes in dairy and beverage applications in the region has escalated the growth. The Asia-Pacific region, on the other hand, is projected to garner the highest CAGR of 7.4% through 2026. Increasing regional demand and widening infrastructure have resulted in the fastest growth in the region.
The key players analyzed in the report include Advanced Enzyme Technologies, Amano Enzyme Co., Ltd., Aum Enzymes BASF, Chr. Hansen Holding A/S, DowDuPont, Associated British Foods Plc. (ABF), Kerry Group PLC, Novozymes, and Royal DSM N.V. The top-end strategies they adhere to have helped them cling onto their top status in the market.
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