HOME › Research Insight › Food Enzymes Market is Highly Fragmented and Competitive, With Key Market Players Adopting Strategies Such as New Product Launches to Meet the Consumerís Demand
Food Enzymes Market is Highly Fragmented and Competitive, With Key Market Players Adopting Strategies Such as New Product Launches to Meet the Consumerís Demand
The food enzymes market is highly fragmented and competitive, with key market players adopting strategies such as new product launches to meet the consumerís demand. Leading players actively invest in R&D activities and launch new products for different applications. The market for food enzymes is projected to reach USD 2.94 Billion by 2021, at a CAGR of about 7.4% from 2016 to 2021. The key driving factors of the food enzymes market include the growing awareness among consumers toward healthy and nutritional foods, and growing end-use applications such as bakery, dairy, beverages and processed foods.
The food enzymes market is covered by very few large players and numerous SMEs (small and medium-sized enterprises). These SMEs operate in a region or country to serve their respective markets. The leading players in the food enzymes market are E. 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), and Chr. Hansen A/S (Denmark). Other players include Dyadic International, Inc. (U.S.), Advanced Enzymes (India), Puratos Group (Belgium), and Amano Enzyme Inc. (Japan).
The core strengths of the key players in this market are their new product launches to improvise their product line and to increase their competitive reach in the food enzymes market. Key companies such as E. I. du Pont de Nemours and Company (U.S.) and Novozymes A/S (Denmark) are focusing on introducing and offering a wide range of food enzymes products in the market and expanding their regional presence to maintain their position. In March 2016, Novozymes introduced the new lactase enzyme that is specifically used in the dairy applications which converts lactose into galactose and glucose. In November 2015, DuPont developed Advance 4000 solution for the brewing industry which provides high beer quality and optimizes the production capacity. Apart from new product launches, companies are also involved in expansions and investments. For instance, in March 215, DuPont Nutrition & Health opened an innovation center in India to serve the food industry more efficiently. Companies are also investing and expanding their businesses by venturing into new regions to increase their market share.
Companies are expanding their geographically diverse businesses and large distribution networks through subsidiaries, distributors, and agents. Market leaders such as E. 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), and Chr. Hansen A/S (Denmark) have successfully tapped into potential markets in China, India, and Brazil.
Food Enzymes Market by Type (Carbohydrase, Protease, Lipase), Application (Beverage, Processed Food, Dairy, Bakery, Confectionery), Source (Plant, Microorganism, Animal), Form (Lyophilised Powder, Liquid), & by Region - Global Forecasts to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India