The global food enzymes market will grow with an anticipated CAGR of 5.57% during the forecast period & will reach revenue of $3,500 million by 2027. The base year considered for the market study is 2018 & the forecasted period is between 2019 & 2027. Growth in food & beverages market is regarded as a prime driver for the growth of the global food enzymes market.
Global food enzymes market growth is hindered by restraining characteristics of enzymes and allergies. People are prone to allergies with food enzymes, which might negatively impact the growth of the global market. Also, the presence of stringent regulations regarding biological products is expected to hamper the growth of agricultural enzymes market in the coming years.
Bakery ingredients are the leading segment in terms of revenue in the global food enzymes market with around XX% market share in 2018. Demand for enzymes is expected to rise as consumers prefer natural products which are free of chemicals.
Geographically, the food enzyme market has been segmented into Asia Pacific, Europe, North America, and the Rest of the World regional segment. North America is the largest market with a market share of XX% in terms of revenue in 2018. The two major countries of North America considered in the report include the U.S. and Canada. The advancements in enzyme formulation have helped in finding new applications of enzymes in food & beverage apart from their conventional use.
Lesaffre Group, Dawn Food Products, Inc., the Bakels Group, Royal DSM N.V., Kerry Group PLC (Kerry Group), AUM Enzymes, Tate & Lyle PLC, BASF, Novozymes A/S., Lallemand, DowDuPont, Amano Enzyme Co., Ltd., Puratos Group, Advanced Enzyme Technologies Ltd., Ingredion Incorporated, Associated British Foods PLC, Chr. Hansen Holding A/S, Archer Daniels Midland Company, and Corbion NV are the major companies profiled in the report.