LONDON, Oct. 19, 2016 /PRNewswire/ -- "Food enzymes market is projected to grow at a CAGR of 7.4% in terms of value"
This report analyzes the food enzymes market, in terms of type, application, source, formulation, and region. The food enzymes market has grown rapidly in the last few years and this trend is projected to continue over the next five years. The market is projected to reach a value of USD 2.94 billion by 2021, at a CAGR of 7.4% from 2016. The primary factor driving the global success of food enzymes is the increasing demand of food enzymes in end-use applications such as bakery, dairy, beverages, and processed foods.
"Bakery application is projected to be the largest application in the food enzymes market"
On the basis of application, the food enzymes market is segmented into beverage, processed food, bakery, dairy, confectionery, and others. Among all the applications of food enzymes, the bakery segment is estimated to be the largest application in 2016 and this trend is likely to remain same till 2021. The growth of bakery applications along with rising popularity of baked products among consumers is driving the food enzymes market in bakery application.
"China and India: The future of the food enzymes industry"
North America dominated the global food enzymes market in 2015 in terms of value. The Latin America region is projected to be the fastest-growing market from 2016 to 2021. However, it is still in the early growth phase. Asia-Pacific is projected to be the second-fastest-growing food enzymes market during 2016–2021. The markets are growing in China and India due to the increasing disposable incomes of the population, the growing urban population, and the increasing distribution of key players such as E. I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Novozymes A/S (Denmark), and Chr. Hansen A/S (Denmark).
Break-up of Primaries:
- By Company Type – Tier 1 – 45 %, Tier 2 – 35%, and Tier 3 – 20%
- By Designation –Director level – 22%, C level – 28%, and Others – 50%
- By Region – North America – 45%, Europe – 25%, APAC – 18%, and RoW – 12%
Leading players in the food enzymes market are E. I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Novozymes A/S (Denmark), and Chr. Hansen A/S (Denmark). Other players include Dyadic International, Inc. (U.S.), Advanced Enzymes (India), Puratos Group (Belgium), and Amano Enzyme Inc. (Japan).
Reasons to buy this report:
- To get a comprehensive overview of the global food enzymes market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and the key strategies adopted by them
- To gain insights into the major countries/regions in which the food enzymes industry is flourishing
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