The global dairy enzymes market size was USD 593.2 Million in 2019 and it is anticipated to reach USD 999.8 Million by 2027, at a CAGR of 7.2% during the forecast period.
Vancouver, British Columbia, Jan. 18, 2021 (GLOBE NEWSWIRE) — The global dairy enzymes market is projected to reach a market size of USD 999.8 Million by 2027 and register a CAGR of 7.2% during the forecast period, according to latest analysis by Emergen Research. High growth of the market can be attributed to increasing demand for cheese products with refined texture and flavor. Increasing urbanization and rising purchasing power of consumers in developing economies is driving demand for processed dairy products. Development of the dairy industry globally is another factors expected to drive the dairy enzymes market during the forecast period. Increasing investments in research and development activities by major market players for development of innovative dairy enzymes is also expected to propel market growth in the near future.
Issues related to allergies due to consumption of dairy products among lactose intolerant consumers is projected to restrain demand for dairy products and in turn restrain market growth to a certain extent. Lactose is broken down into simple sugars, and such products are not advised for consumption by diabetics as it can increase blood glucose levels, and hence demand from this consumer base is expected to be limited. These are some factors expected to hamper demand for such products, and in turn impact market growth during the forecast period.
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Companies Profiled in this Report are:
DuPont, Kerry Group, Chr Hansen Holding A/S, DSM, Advanced Enzymes Technologies, Connell Bros., Novozymes A/S, Biocatalysts Ltd., Amano Enzyme, and SternEnzym
Key Highlights of Report
- In November 2019, DuPont Nutrition & Biosciences launched its new flagship dairy enzyme i.e. DuPont Danisco Nurica. This flexible enzyme enables dairy product manufacturers fermented dairy products that are high in fiber, low in sugar, and lactose-free.
- The cheese segment held the largest market share of 33.7% in 2019. Rising demand for processed dairy products among consumers with increased purchasing power is expected to drive demand for dairy enzymes to produce enhanced flavored cheese over the next few years.
- The microbial rennet segment is revenue is expected to expand at the highest CAGR of 8.1% during the forecast period. Cheese-manufacturing companies widely utilize microbial milk-clotting enzymes produced by Rhizomucor pusillus and Rhizomucor miehei. This factor is expected to drive revenue growth of this segment during the forecast period.
- The Asia Pacific market is expected to expand at the most rapid rate during the forecast period. Growing urbanization in developing economies and rising purchasing power of consumers in the region is driving demand for processed dairy products the market in Asia Pacific.
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Emergen Research has segmented the global dairy enzymes market in terms 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)
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- 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
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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