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(Health-NewsWire.Net, April 17, 2020 ) Market Overview
• Global Food Enzymes market is expected to grow at a CAGR of 6.25 % during the forecast period (2019-2026)
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Market Growth
• Growth in food & beverage industry along with rising need to improve food flavoring, texture, and quality are increasing the demand for usage of enzymes as it is an essential ingredient in food items.
• An enzyme is a protein with catalytic properties due to its power of specific activation. Food enzymes speed up and target chemical reactions in food and beverages. They aid many processes such as digestion, metabolism.
The two factors of competitive intensity:
Threat of New Entrants: Moderate
• Enzymes have a high scope of applications in the food & beverage industry, the demand for specific and unique enzymes for each application is creating a bigger platform for the manufacturers to enter the market.
• However, this industry highly depends on R&D functionality, which requires frequent investments in the market. This factor might limit the smaller enterprises to enter the market as the budget won’t permit. All the factors together impact the threat of new entrants moderately.
Threat of Substitutes: Low
• An enzyme has become an essential ingredient in the processing of food items as they are mandatory to facilitate the digestion process.
• The only substitute for the food enzymes is the natural foods with the enzymes in it. So the threat of the substitutes can be considered low for the food enzymes market.
Competitive Landscape
• Food Enzymes Market report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• Food Enzymes Market is segmented for the largest market share based on types such as Carbohydrates, Protease, Lipase, and Others. Further, the market is segmented based on applications such as Beverages, Bakery, Dairy, Oil & Fats, Meat & meat products, Sugar & Confectionery, and others. The reported segment accounted for the largest market share due to the geographies by regions, which include North America, South America, Europe, Asia Pacific, and RoW.
• The report profiles the following companies, which includes Novozymes, Cargill Inc., Kerry Group, Danisco, DSM, AB Enzymes, Chr. Hansen, Jiangsu Boli Bioproducts Co. Ltd, Enmex SA DE CV, Tate & Lyle Plc, Archer Daniels Midland (ADM), Puratos, Sunson Industry Group Company Limited, CP Kelco.
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