Food Enzymes Market Records a Growth of USD 991.8 million from 2023 to 2028 - Technavio
Source: The DairyNews
The food enzymes market is to grow by USD 991.8 million from 2023 to 2028 progressing at a CAGR of 6.45% during the forecast period.
A rise in awareness about healthy and nutritional food is the key factor driving growth. The surge in demand for processed foods is driven by factors like heightened health awareness, increased income and spending, and rapid economic growth. This trend is further fueled by changes in lifestyles and dietary habits, urbanization, and the rise of nuclear families and working women. Additionally, the preference for convenience foods in today's fast-paced lifestyle has contributed to this demand. Moreover, the consumption of nutrient-deficient, high-fat foods can disrupt metabolism, leading to an increased focus in processed foods. These aid in breaking down complex nutrients, promoting better digestion and metabolism.
Capacity expansions and new plants are the primary trends shaping growth. High prices affecting product consumption is a significant challenge restricting growth. The market analysis includes Application, Product, and geography landscape. This study identifies Product innovations, Capacity expansions and new plants, and Rising consumer focus on health, wellness, and natural products as one of the prime reasons driving the growth during the next few years.
The processed foods segment is estimated to witness significant growth during the forecast period. Food-grade enzymes are utilized in processed foods like breakfast cereals, tinned vegetables, bread, and convenience meals to break down proteins, carbs, and starch. The rise in processed food consumption due to busy lifestyles and increased spending has elevated the demand for cereal grains. This trend is furthered by growing populations, particularly in nations like China and India, which fuels the demand for cereals and grains and, consequently, food enzymes.
Additionally, frozen foods, whose popularity is driven by lifestyle changes and dietary choices, also contribute to the heightened demand due to their inclusion in carbohydrate digestion.
Capacity expansions and new plants are the primary trends shaping growth. High prices affecting product consumption is a significant challenge restricting growth. The market analysis includes Application, Product, and geography landscape. This study identifies Product innovations, Capacity expansions and new plants, and Rising consumer focus on health, wellness, and natural products as one of the prime reasons driving the growth during the next few years.
The processed foods segment is estimated to witness significant growth during the forecast period. Food-grade enzymes are utilized in processed foods like breakfast cereals, tinned vegetables, bread, and convenience meals to break down proteins, carbs, and starch. The rise in processed food consumption due to busy lifestyles and increased spending has elevated the demand for cereal grains. This trend is furthered by growing populations, particularly in nations like China and India, which fuels the demand for cereals and grains and, consequently, food enzymes.
Additionally, frozen foods, whose popularity is driven by lifestyle changes and dietary choices, also contribute to the heightened demand due to their inclusion in carbohydrate digestion.
