The fears are deepening over the impact of the COVID-19 outbreak, which is radically affecting the food industry around the globe. Food manufacturing companies are already facing a profound impact, from travel restrictions to the shortage of goods and increased freight & shipping costs. These impacts have created huge pressure on the transportation of goods. This situation is likely to worsen before it gets better, with massive supply chain disruptions. This is likely to choke production for companies at some point. However, retailers are continuing to monitor their supply chains meticulously and are taking all necessary measures to ensure consumers have a continuous flow of goods.
This pandemic has hit hard the enzymes market, and the post effect of the COVID-19 is likely to push the growth of the landscape at a moderate rate. With global lockdowns imposed by the government, the market is witnessing a shortage of labor force coupled with disruptions in supply chain.
Government support through tax concessions and subsidies on food items such as corn, meat, and sorghum are the most significant factors surging the demand for technical enzymes. Increasing demand for these enzymes in nutraceutical, food & beverage, textile applications are anticipated to be the major factors catapulting the market growth. Further, growing awareness pertaining to food safety, quality, and security in line with changing consumer preferences towards processed organic foods are the factors that are further contributing to the technical enzymes market. Therefore, the global technical enzymes market size is expected to reach US$ 3615 Mn by the end of 2029.
Surging Demand for Technical Enzymes in Food Processing Industry
Food processing is the fastest-growing segment within the technical enzymes market, which is largely driven by buying power of the global population. Rising health awareness among consumers is a major factor for growing demand for quality food, improved nutritional values, and safer production processes.
In recent times, millennials are more inclined towards natural flavors and tastes in line with higher quality foods. These factors are driving the demand for technical enzymes, as they serve as a ccatalyst. These catalysts play essential roles in the decomposition of nutrients & vitamins in the interconversion of large molecules in small molecules and metabolic reactions. Food enzymes such as xylanase, protease, cellulose, pectinase, glucosyltransferase, polygalacturonase, and chymosin are a crucial part of the technical enzymes market.
Furthermore, technical enzyme preparations are mainly used for the process of meat tenderization. As tenderness of the meat depends mainly on the amount of protein that creates muscle, some vegetable proteases can decrease the insoluble residue of meat. In line with these factors, the animal food processing industry is highly dependent on technical enzymes.
Technical Enzymes Gain Prominence in the Brewing Industry
In recent times, it is considered that brewing in modern days cannot continue without the application of technical enzymes. These enzymes are biological catalysts that catalyze the molecular and biochemical reactions, which is crucial for the production and maintenance of many food products.
Some of the main enzymes such as protease, amylases, and cellulose are essential for the production of beer. In addition, proteases play an important role as it helps in enhancing the malting process, improving the growth of yeast, and reducing the haze during storage of beer. Therefore, potential investors are investing in alcoholic beverage processing equipment. These technical enzymes find a wide scope of application in brewing and winemaking processes.
Technical Enzymes to Witness Increasing Scope of Applications in Animal Feed Industry
The utilization of technical enzymes in animal feed plays a key role in modern farming techniques. Technical feed enzymes enhance the nutrients digestibility, which creates higher demand in feed application. Additionally, these technical enzymes terminate the unwanted feed components that are harmful and have little or no nutritional value. Some of the cereals such as rye, wheat, and barley have an increased amount of non-starch polysaccharides (NSP).
This helps in reducing the production of methane in the intestine in combination with NSP. Likewise, proteases help in significantly reducing the non-protein nitrogen supplement quantity in animal feed diet, thereby, dwindling the urea excretion in the environment. Therefore, the technical enzymes market is expected to create growth prospects for the manufacturers of animal feed.
Technical Enzymes Market Report Details
|Base year considered||2019|
|Historical Period||2014 – 2018|
|Forecast period||2019 – 2029|
|Market Value in 2019||US$ 1,890 Mn|
|Segments covered||Product Type, Application, Source and Region|
|Regions covered||North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA|
|Key Players||Koninklijke DSM N.V. (The Netherlands), E.I. du Pont de Nemours and Company (U.S.), BASF SE (Germany), Associated British Foods Plc (U.K.), Novozymes A/S (Denmark), Advanced Enzyme Technologies Ltd. (India), Epygen Labs FZ LLC (UAE), Maps Enzymes Limited (India) and Megazyme Inc. (U.S.)|