Market Leader - Food Enzymes Market
The food enzymes market is estimated to be valued at USD 2.2 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 6.4%, in terms of value. The demand for food enzymes is increasing significantly, as they are used widely across various food & beverage applications due to its functional properties.
Key players in this market include DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen (Denmark), Kerry Group (Ireland), Jiangsu Boli Bioproducts Co., Ltd. (China), Biocatalysts Ltd. (UK), Puratos Group (Belgium), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan), Enzyme Development Corporation (US), ENMEX, S.A. de C.V. (Mexico), Enzyme Bioscience Private Limited, Aumgene Biosciences (India), Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), and Antozyme Biotech Pvt Ltd (India).
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Novozymes (Denmark) is a major bio-innovation company providing biological solutions, which involves the application of enzymes and microbes. The company offers various products, which cater to industries, such as household care, food & beverage, bioenergy, agriculture & feed, and technical & pharma. Novozymes has been introducing new products for making its product portfolio diverse. In addition, the company is focused on expanding its global presence to prosper in the food enzymes market. Currently, it has been catering to all the major regions, such as North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. It focuses on innovation activities to identify new opportunities in the food enzymes market. For instance, in May 2019, Novozymes announced the launch of a new enzymatic solution for the Chinese corn milling industry "Frontia Jade" targets ‘wet milling’, which is the first step in the starch conversion process. The product helps mills achieve better starch yields while reducing energy consumption and costs.
DuPont is a world-class multi-industry specialty solutions company with large global businesses aligned with growing, attractive end markets. It offers a wide range of food enzyme products under their “nutrition and biosciences” division. “Danisco” is the company’s major brand under which DuPont offers numerous quality food enzyme solutions. Their products enhance food freshness, optimize production, add texture, ensure quality, and reduce costs of the overall food products in the end-use sectors, such as dairy, confectionery, bakery, meat, and beverages.
DuPont has a strong market position in the global markets and has also established a strong distribution network. It is identified as a star player in the global food enzymes market. The company undertook a merger with International Flavors and Fragrances Inc. (US) in 2021, which has further strengthened its product portfolio for food nutrition solutions. With the merger of IFF and Danisco, Danisco has been able to offer innovative solutions across various regions. In April 2021, IFF (a part of DuPont) announced the launch of Nurica enzyme in China, offering a new solution for dairy producers to create a premium product to fulfill consumer health needs while increasing profitability. Nurica is IFF’s latest innovation for the Chinese market and is marketed under the Danisco range of food ingredients.
Related Reports:
Food Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Source, Application (Food & Beverages), Formulation, and Region(North America, Europe, Asia Pacific, and South America) – Global Forecast to 2026
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