Market Overview
Dairy enzymes are used for the
production of cheese and yogurt as well as other dairy products. These enzymes
function as a coagulant, which is required to make cheese. Also, bio-protective
enzymes enhance the shelf life and safety of dairy products. Moreover,
they are also used to improve texture and flavor. Dairy enzymes are widely used
in the production of several functional dairy beverages.
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Market Forecast
The global market for dairy
enzymes has been experiencing high demand in the last few years and is
projected to reach USD 829.6 million by 2023. Rising high growth of dairy
products is anticipated to be the key factors for the rising growth of dairy
enzymes market at a global level.
There has been increasing
incidences of lactose intolerance across the globe. People who are lactose
intolerant lack enzyme (lactase) in their small intestine to break down all of
the lactose consumed. Lactose intolerance encompass dairy products allergy,
disaccharide deficiency, lactase deficiency or milk intolerance and the
partially digested or undigested lactose leads to pain, abdominal bloating,
diarrhea, skin problems, sleep disturbances, tiredness and other health
problems. Lactose intolerants cannot ingest dairy products as it leads to
nausea, abdominal pain, abdominal gas & flatulence, vomiting, perianal
redness, acidic diarrhea, and various other health issues. Lactase enzymes are
used widely by the dairy products manufacturers in order to cuts lactose into
its constituent sugars, galactose, and glucose. So, increasing lactose
intolerance among the consumers is expected to fuel the growth of dairy enzymes
market at a global level.
All the factors are
anticipated to boost the global dairy enzymes market to expand at the CAGR of
7.4% during the forecast period of 2018-2023.
Downstream Analysis
The Dairy
Enzymes Market is segmented on the basis of type, application, and
source.
Among the type, proteases segment
is anticipated to retain its dominance throughout the forecast period. Also,
the segment is projected to register a healthy CAGR of 7.78% during the
forecast period due to the massive usage of the products in the processing of
cheese.
Among application of dairy
enzymes, cheese segment is accounting for approximately 67% market share
followed by milk accounting for 15.7% of the global dairy enzymes market. Among
the source, animal & microorganism segment is anticipated to retain its
dominance throughout the forecast period. The segment is projected to expand at
CAGR of 7.50% during the review period.
Competitive analysis
This report includes a study of
strategies used in the market, mergers, and acquisitions and multiple product
launch by dairy enzymes market players. It further includes product portfolios
and developments of leading players, which includes
- Hansen Holding A/S (Denmark)
- Danisco A/S (U.S.)
- DSM N.V. (Netherlands)
- Kerry Group PLC. (Republic of Ireland)
- Novozymes A/S (Denmark)
- Biocatalysts Limited (U.K.)
- Advanced Enzyme Technologies Limited (India)
- SternEnzym GmbH & Company KG (Germany)
- Connell Bros. Co. LLC (U.S)
- Amano Enzyme Inc. (Japan)
Region Analysis
The global dairy enzymes market
is segmented into North America, Europe, Asia Pacific, Latin America and Middle
East & Africa. Among these, North America region is dominating the market
over the forecast period. The North America region is projected to grow at a
CAGR of 7.50% during the review period. This is attributed to high consumption
of dairy enzymes in this region. Furthermore, Asia Pacific is projected to
witness the highest growth rate during the forecast period 2018-2023. In Asia
Pacific, China has been dominating the market with market share of 27.8% since
2017.
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