Europe Food Enzymes Market Outlook 2031:
The Europe food enzymes market size was valued at USD 630 Million in 2022 and is projected to reach USD 1.14 Billion by 2031, expanding at a CAGR of 6.9% during the forecast period 2023 - 2031. The growth of the market is attributed to the growing demand for genetically modified enzymes.
Enzymes are biological catalysts or biocatalysts that accelerate chemical reactions. The enzymes act upon molecules called substrates and convert them into different molecules known as products.
However, the enzyme activity can be affected by environmental factors such as low temperature and varying pH values. Many enzymes lose their structure and catalytic properties permanently due to excessive heat.
The enzyme increases the reaction rate by lowering its activation energy. Likewise, the food enzymes that occur in raw food begin the process of digestion by breaking down the complex food molecules into the simple ones. People with faulty digestion prefer the food products with high degree of food enzyme.
The packed food products contain complex carbohydrates and fats, which are difficult to digest by the human body. Therefore, food enzymes are used in processed food products to break it down into easily digestible form.
Food Enzymes Market Trends, Drivers, Restraints and Opportunities
- Rising demand for processed and packaged foods and awareness about food security and safety are the major factors propelling the market expansion during the projected period.
- Growing trend of healthy lifestyle and balanced diet is estimated to contribute to the market expansion during the forecast period.
- Multiple functional properties of modified food enzymes and its wide range usage in production of healthy food products are major factors that can positively influence the market growth in the coming years.
- The nutritional effects of food enzymes are directly affected by the surrounding temperature conditions. Therefore, low temperature in the region is expected to hamper the market growth during the forecast period.
- Constant change in food enzyme pH value regulation in the region is anticipated to restrict the market expansion.
- Advancement in technology such as enzyme engineering is expected to create numerous opportunities for the market growth in the coming years.
Scope of Europe Food Enzymes Market Report
The report on the Europe food enzymes market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Europe Food Enzymes Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Confectionery, Oils & Fats, Meat Poultry & Seafood Products, Bakery, Dairy & Frozen Products, Beverages, and Others)
The UK, Germany, Italy, France, the Netherlands, Spain, and Rest of Europe
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
AST Enzymes; DuPont; MetGen; Kerry Inc.; and AB Enzymes
Europe Food Enzymes Market Segment Insights
Based on types, the market is segregated into confectionery, oils & fats, meat poultry & seafood products, bakery, dairy & frozen products, beverages, and others. The bakery segment is projected to expand at a robust CAGR during the forecast period owing to the rapid increase in the population resulting into subsequent increase in processed food consumption.
Furthermore, the restrictions on the use of chemical additives, especially in the manufacturing of fermented food products including bread has resulted into large scale use of food enzymes. Therefore, the increase in use of enzymes in bakery sector is expected to encourage the growth of the market segment.
On the other hand, the dairy & frozen products segment is anticipated to hold a significant market share during the forecast period due to the increase in application of enzymes in dairy technology such as use of rennet enzyme to accelerate cheese ripening.
In terms of geography, the Europe food enzymes market is classified as the UK, Germany, Italy, France, the Netherlands, Spain, and Rest of Europe. Germany is anticipated to constitute a key share of the market during the projected period owing to the growing health awareness, increasing percentage of geriatric population, and the consequent demand for health and wellness products.
However, the market in France is anticipated to exhibit a robust CAGR during the forecast period due to growing food security concerns, increasing disposable income, and advancements in research & development activities.
The Europe food enzymes market has been segmented on the basis of
- Oils & Fats
- Meat Poultry & Seafood Products
- Dairy & Frozen Products
- The UK
- Rest of Europe
Key players competing in the Europe food enzymes market are AST Enzymes; DuPont; MetGen; Kerry Inc.; and AB Enzymes. Companies are focusing on growing manufacturing facilities, along with forming strong distribution networks with other industry players in order to expand their market shares.