Food enzymes are complex constituents that act as catalysers, which increase diversity, variety, and quality during food processing. The enzymes in the food industry are primarily used for preserving and purifying beverages, overcoming ripening time in dairy and meat products, enhancing loaf volume of bread, advancing quality and yield of products, modifying fats, and tenderizing meats. According to the Renub Research Analysis, the Food Enzymes Market was valued at US$ 2.3 Billion in 2020.
The food enzymes are produced from different sources like microorganisms, plants and animals are used in the food industry for broad applications. In addition, by type, the food enzymes market is bifurcated, such as carbohydrates, lipases, and proteases. Innovation has allowed the players to exploit diverse application industries such as bakery products, beverages and dairy products, consequently triggering the opportunities in the Food Enzymes Industry to be progressing at a CAGR of 6.20% through the forecast period 2020-2026.
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Furthermore, to develop production means while optimizing costs and ensuring quality, the food industry is constantly looking for new and innovative constituents to obtain the most high-grade quality products. Thus, the growing importance of enzymes in the food industry is fuelling the growth of the food enzymes market.
The report covers a competitive panorama based on an extensive assessment of the industry’s key company initiatives adopted by driving market participants (2017-2020). The key players profiled in the Food Enzymes Market are BASF SE, Advanced Enzyme Technologies, Novozymes, DuPont Danisco, DSM and Kerry Group PLC. According to Renub Research, the Global Food Enzymes Market Size is projected to reach US$ 3.3 Billion by 2026.
COVID-19 Impact on Global Food Enzymes Industry
The impact of COVID-19 in the Food Enzymes Market is anticipated to be vital, as the current pandemic has highlighted the consequence of safe, healthy, and nutritious eating. The key companies in the food enzymes market have begun establishing regional production for ingredient sales across the countries. R&D and sales departments and are also optimizing supply chains for the distribution of raw materials.
Amidst the COVID-19 outbreak, food ingredient companies encountered significant challenges in addressing the inflated demand for food enzymes, including changing tastes and preferences. A rapid and unforeseen spike in desire for functional foods during the pandemic ended in manufacturers, suppliers, and retailers struggling to ensure a continued supply of raw materials in the market. Disturbances in the supply chain during the pandemic lockdown across the countries were challenging for the market.
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