Mar 24, 2021, 08:30 ET
NEW YORK, March 24, 2021 /PRNewswire/ -- The global baking enzymes market size is expected to reach USD 1,115.6 million by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 5.5% From 2021 – 2028. Increasing demand for baking enzymes in the food sector especially in bakery products is among one of the key factors driving the market growth. In addition to this, its increased use in confectionery products such as pastries, cakes, etc. coupled with growing demand in the bread baking industry further helps the market to grow at a rapid rate. Furthermore, the rise in consumer interest towards products having extra nutritional values and food manufacturer's efforts to bring innovative product offerings are some other major factors creating a positive impact on the market growth.
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Key Trends and Developments in Baking Enzymes Market
- Based on type, the hydrolases segment dominates the baking enzymes market as the enzymes are highly used during the bread-making process. Owing to increasing demand, several manufacturers are focusing on the development of high-quality products.
- Governments from numerous countries across the globe have increasingly promoting the use of bakery enzymes to cater to growing consumer needs for clean products, which in turn fueling the market growth.
- Increasing concerns related to the extensive waste of bakery products, especially in the bread category products, food manufacturers are giving more emphasis on making new product sets that stay fresh for a longer time without compromising the taste or quality.
- An increase in the stringent policies and regulations set by regulatory bodies for having eco-friendly products continues to augment the demand for different bakery enzymes. This will eventually drive sales for bakery enzymes.
The regional market of North America contributed the largest revenue share and is expected to continue its dominance during the forecast period. The rise in demand for baking enzymes in the confectionary and food & beverage industries is the major factor that drives growth in this region. Europe is emerging as the second-largest revenue contributor market owing to the rise in preference for packaged food among the regional population. The Asia Pacific region followed by Middle East & Africa is predicted to witness a substantial growth rate on account of increasing investment by regional players to bring innovation in product offerings.
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To deal with competitive scenarios and challenges in fulfilling changing consumer needs, from longer-lasting freshness to improvement in texture, leading market players investing heavily in their product innovation. Key players present in the baking enzymes market include AB Enzymes Gmbh, Royal DSM, SternEnzym GmbH & Co. KG, Dydaic International Inc., Aum Enzymes, DowDuPont Inc., Amano Enzyme Inc., Advanced Enzymes Maps Enzyme Limited, Engrain, Novozymes, and Puratos Group NV.
- Supply Side: Baking Enzymes Manufacturers and Suppliers
- Demand Side: Food Manufacturers
- Regulatory Side: Food and Drug Administration
Polaris Market research has segmented the baking enzymes market report on the basis of type, application, and region:
Baking Enzymes, Type Outlook (Revenue, USD Million, 2016 – 2028)
Baking Enzymes, Application Outlook (Revenue, USD Million, 2016 – 2028)
- Cakes & Pastries
- Biscuits & Cookies
Baking Enzymes, Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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List of Baking Enzymes Industry:
- DowDuPont Inc.
- Maps Enzyme Limited
- SternEnzym GmbH & Co. KG
- Amano Enzyme Inc.
- Royal DSM
- Aum Enzymes
- Puratos Group NV
- AB Enzymes Gmbh
- Dydaic International Inc.
- Advanced Enzymes
*Note: Additional companies can be included on request
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About Polaris Market Research
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