According to a report by MarketsandMarkets, the global food enzymes market is projected to reach a revenue of USD 3.1 billion by 2026, with a compound annual growth rate (CAGR) of 6.4%. The industry was valued at approximately USD 2.2 billion in 2021.
Food enzymes are used in various applications such as dairy products, bakery products, beverages, meat products, and others. The growth of the food enzymes market can be attributed to the increasing demand for processed and convenience foods, rising health awareness among consumers, and the growing demand for natural food additives.
Some of the key players in the food enzymes market include DSM (Netherlands), Novozymes (Denmark), DuPont (US), Chr. Hansen (Denmark), BASF (Germany), Kerry Group (Ireland), DowDuPont (US), Associated British Foods (UK), and Advanced Enzymes (India).
In terms of application, the bakery products segment is expected to hold the largest share of the food enzymes market during the forecast period. This can be attributed to the increasing consumption of baked goods and the use of enzymes in the production of various bakery products such as bread, cakes, and cookies.
Geographically, the Asia Pacific region is expected to witness significant growth in the food enzymes market due to the increasing demand for processed foods and the growing population in countries such as China and India.
In terms of trends, there is a growing demand for clean label products, which has led to the development of natural food enzymes that can replace synthetic additives. Additionally, there is an increasing focus on developing enzymes that can improve the quality and texture of plant-based food products.
