Market Overview
The increasing application of amylase enzyme in the food & beverage industry to improve the quality of the final product has surged the demand for fruit and vegetable enzymes at a global level. They are significantly used in industrial applications as it is cost-effective, reduces the time of the process, and it easily modifies and optimizes the process. Increasing demand for convenience food is one of the major factors contributing to the growth of the global fruit & vegetable enzymes market share.
The global Fruit and Vegetable Processing Enzymes Market is projected to grow at a significant rate of 7.1% from 2019 to 2024 to reach a market value of USD 42.3 billion by the end of 2024. Fruit and vegetable processing enzymes are used globally by food manufacturers in processing foods and making beverages. With the growing urbanization and increasing disposable income of consumers, there is a rising demand for processed and convenience food products among the consumers globally.
Access Report Details @
Key Players
I. du Pont de Nemours and Company (US), Associated British Foods plc (UK), Koninklijke DSM N.V. (the Netherlands), Novozymes A/S (Denmark), Advanced Enzyme Technologies Ltd (India), Groupe Soufflet (France), Jiangsu Boli Bioproducts Co., Ltd (China), Sunson Industry Group Co Ltd (China), Biocatalysts Limited (UK), Amano Enzyme Inc. (Japan), Amway Corp (US), BASF SE (Germany), AB Enzymes (Germany), Aum Enzymes (India), and F. Hoffmann-La Roche Ltd (Switzerland)are some of the key players in the global fruit and vegetable processing enzyme market.
Market Forecast
Increasing demand for foods and beverages is driving the growth of the fruit & vegetable enzymes market share. Furthermore, development of processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the global fruit & vegetable enzymes market share.
The growth of the beverage industry has led to the increase in demand for fruit & vegetable juices, resulting in the demand for enzymes. The enzymes used in the production process of juices break down cell walls in fruits & vegetables and discharge the liquid & sugar contents. The global fruit & vegetable enzymes market share share in the foods and beverages industry is escalated by the rising demand for convenience food products in the developed countries. Fruit & vegetable enzymes are found to have multi-purpose application in various other industries, amongst which the application in the food and beverages is increasing at a higher rate.
However, fruit & vegetable enzymes have been facing many challenges due to safety regulations regarding the use of these enzymes in food and beverage products. Additionally, low stability of these enzymes is affecting the growth of the market at a global level. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has boosted the share of the fruit & vegetable enzymes in the global market. The global fruit & vegetable enzymes market share is expected to grow at a CAGR of 6.5% during the forecast period 2017-2023.
Downstream analysis
The global fruit & vegetable enzymes market share is segmented into type, application, and form.
On the basis of the type, it is segmented into pectinase, amylase, protease, cellulase, and others. Among all, the amylase enzyme segment is dominating the market followed by protease enzyme due to its low cost.
On the basis of the application, the fruit & vegetable enzymes market share is segmented into fruits and vegetables. Among both, the fruit segment is dominating the market.
On the basis of the form, it is segmented into powder, liquid, and others. The liquid segment is dominating the market due to is its direct use in its liquid form in various beverage formulations.
Competitive analysis
The major players in the fruit & vegetable enzymes market share
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)
Advanced Enzyme Technologies Ltd. (India)
Groupe Soufflet (France)
Jiangsu Boli Bioproducts Co., Ltd. (China)
Sunson Industry Group Co Ltd. (China)
Biocatalysts Limited (U.K)
Amano Enzyme Inc. (Japan)
Regional Analysis
The global fruit & vegetable enzymes market share is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the fruit & vegetable enzymes market share followed by Asia Pacific owing to increasing demand for fruit and vegetable beverage products.
Key players in the fruit & vegetable enzymes market share are largely located in North America and Europe. Key players from the U.S. and the U.K are following strategies of merger and acquisition with small players to expand their business in other regions due to increasing demand of fruit and vegetable juices, concentrates, and other beverages.
Market Segmentation
Fruit & vegetable enzymes market share is segmented on the basis of type, application, form, and region.
Request a Sample Report @
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Commentaires