Food Enzymes Market

Market Leaders: Growing awareness about healthy and nutritional food increased the demand for Food Enzymes Market among food manufacturers

The global food enzymes market is estimated at USD 2.31 billion in 2018 and is projected to reach USD 3.23 billion by 2023, at a CAGR of 6.9% during the forecast period. The key players in the food enzymes market include DowDuPont (US), Associated British Foods (UK), DSM (Netherlands), Novozymes (Denmark), Chr. Hansen (Denmark), Brenntag Pte. (Germany), Kerry Group (Ireland), Jiangsu Boli Bioproducts (China), Biocatalysts (UK), Puratos Group (Belgium), Advanced Enzymes Technologies (India), Amano Enzyme (Japan), and Enzyme Development Corporation (US). These key players focus on various business strategies such as new product launches and expansions & investments to improve their market presence and product portfolios. DowDuPont and Associated British Foods are the top 2 companies in the food enzymes market, based on their product offerings and geographical presence.

DowDuPont is an American conglomerate that provides innovative agriculture products, packaging & electronic materials, and consulting services. The company operates through 8 business segments, namely, agriculture, electronics & imaging, industrial intermediates & infrastructure, nutrition & biosciences, performance materials & coatings, packaging & specialty plastics, transportation & advanced polymers, and safety & construction. Some of the products offered by the company include seeds, feeds, herbicides, resins, polyester, personal care products, food packaging materials, dietary supplements, and sweeteners. It operates globally in more than 90 countries, covering North America, South America, Europe, and Asia Pacific. The company has adopted new product launches as its strategy; for instance, in June 2018, the company launched a new product range of POWERBake 8000 bakery enzymes in South America to extend its product offerings in the region.

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Associated British Foods plc (UK) is a subsidiary of Wittington Investments Limited (US). It offers a diversified range of products to the food, ingredients, and retail industries. The company operates through 5 segments, namely, grocery, sugar, agriculture, ingredients, and retail. The ingredients segment is into manufacturing of bakery ingredients, enzymes, lipids, yeast extracts, and cereal specialties. The company has its operation centers in about 50 countries across Europe, Southern Africa, the Americas, and Asia & Australia. The company focuses on expansions as its growth strategy. In July 2018, the company opened a new warehouse and distribution center in China, which helped the company strengthen its supply chain facility in the country.

Related Reports:

Food Enzymes Market by Type (Carbohydrase, Protease, Lipase), Application (Beverages, Bakery Products, Dairy Products, Confectionery Products, Processed Foods), Formulation (Lyophilized Powder and Liquid), Source, and Region - Global Forecast to 2023

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Report Code
FB 1264
Published ON
Sep, 2018
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