According to a recent analysis by Emergen Research, the global dairy enzymes market size is forecast to reach USD 999.8 Million by 2027 from USD 593.2 Million, at a CAGR of 7.2% through the forecast period. The market growth can be attributed to the increasing utilization of hydrocolloids by dairy-manufacturing enterprises to enhance the taste and texture of dairy products. The rising prevalence of lactose intolerance among people across the globe is also supporting dairy enzymes industry growth.
Microbial rennet is in high demand among food-processing companies for the production of cheese. Growth in veganism trends is further fuelling the demand for microbial rennet over animal-derived rennet. With increasing consumer awareness regarding low-fat, healthy food, the demand for dairy enzymes will gain traction. In addition, rising incidences of digestive issues among people are resulting in increased consumption of fermented dairy products, which in turn will foster dairy enzymes market size.
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Key Highlights of Report
- On the basis of application, the cheese sub-segment accounted for nearly 33.7% of the global diary enzymes market share in 2019 and is expected to exhibit substantial growth through 2027. Dairy enzymes improve the freshness of cheese, assist in the digestion of milk, and reduce the bitterness of whey, which is resulting in increased product demand.
- Based on type, the microbial rennet sub-segment is forecast to showcase a notable growth rate of 8.1% over the projected timeframe. Extensive utilization of microbial rennet for producing cheese with rich flavor and texture is boosting segmental growth. In addition, the lost cost of microbial rennet as compared to animal rennet will further boost product adoption among cheese manufacturers.
- In the regional landscape, North America is expected to contribute significantly to the global dairy enzymes market revenue share in the forecast period. Surging demand for innovative dairy products that are lactose-free, prebiotic fiber-enriched, and sugar-free from health-conscious consumers are driving the regional dairy enzymes market.
- The APAC market for dairy enzymes is forecast to expand at the fastest CAGR over the analysis period. Rapid urbanization rising purchasing power of consumers in developing countries across the region is bolstering the demand for processed milk products, which in turn will foster regional dairy enzymes market size through 2027.
- Key players in the global dairy enzymes market include Kerry Group, DuPont, Chr Hansen Holding A/S, Advanced Enzymes Technologies, DSM, Connell Bros., Biocatalysts Ltd, Novozymes A/S, SternEnzym, and Amano Enzyme, among others.
- These industry players are adopting several strategies, such as acquisitions, mergers, collaborations, new product development, and capacity expansion, thereby supporting the overall growth of the dairy enzymes market.
- DuPont Nutrition & Biosciences launched Versilk enzyme in North America in December 2020. The new addition to the company’s enzyme range will enable beverage and yogurt manufacturers to achieve optimal taste and texture in yogurts and drinkable fermented products.
Emergen Research has segmented the global dairy enzymes market on the basis of application, type, and region:
- Application Outlook (Revenue, USD Million; 2017–2027)
- Infant Formula
- Ice Cream & Desserts
- Type Outlook (Revenue, USD Million; 2017–2027)
- Microbial Rennet
- Others (Catalases and Proteases)
- Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/dairy-enzymes-market