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The growing demand for processed foods and increasing health consciousness in the people is driving the food & beverages industry which in turn is driving the food enzymes market. Food enzymes are a major food additives which convert complex molecules in to simpler ones in our diet. The food enzymes market was valued is expected to reach USD 2.7 billion by 2022, with a CAGR of 8.1% for the forecast period of 2017-2022. Food enzymes market in Italy is expected to grow at a CAGR of ~ % from 2017-2022 and reach a value of USD ~ million by 2022.
The demand for processed and packaged foods is growing with the need to provide food security and safety. However, due to complexities in the global food supply chain, there is a need to add food additives to keep intact the nutritional content and maintain the shelf life. Apart from these reasons, the increasing penetration of organized retail in urban and rural centers globally seem to drive the need for food enzymes. The key restrains the market faces is in terms of unclear regulatory process and high Research and development costs.
The report is segmented based on enzymes types which include Carbohydrases, proteases and Lipases. , carbohydrases dominate the market followed by proteases and lipases. Food enzymes find major application in Bakery, Dairy & Frozen products, Enzymes, Meat products, Oils and Fats among others. Bakery is the largest application market, as food enzyme are used to improve dough stability and shelf life of end products. Increased use of enzymes in cheese processing is driving the use of enzymes in dairy industry, which is the second largest application market followed by the beverages industry.
Europe constitutes 28% of the global food enzymes share. The Carbohydrase Europe market was valued at USD 503 billion in 2015, and is estimated to grow at a CAGR of 6.4% during 2017-2022. Europe carbohydrates market account for nearly 20% of the global carbohydrases market. Europe is expected to see a slow growth as the European Union has recently imposed a legislation to assess the risks associated with the use of enzymes in food industry.
Some of the players who have been profiled in this report include AB Enzymes, Novozymes, Sunson Industry group, Cargill, Tate & Lyle among others. The market sees opportunities for growth in emerging and developed nations as food enzymes reduce water, energy and wastage costs. The market needs amendments to develop a set of guidelines to regulate the market.
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