Dairy Enzymes Market by Type, Application, Source and Region - Global Forecast to 2022: Chr. Hansen, DowDuPont, DSM, Novozymes, and Kerry Group Account for More than 50% of the Market
DUBLIN, Feb. 12, 2018 /PRNewswire/ --
The "Dairy Enzymes Market by Type (Lactase, Chymosin, Microbial Rennet, Lipase), Application (Milk, Cheese, Ice Cream & Desserts, Yogurt, Whey, Infant Formula), Source (Plant, Animal & Microorganism), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
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The dairy enzymes market is estimated at USD 519.4 Million in 2017, and is projected to reach USD 734.6 Million by 2022, at a CAGR of 7.18% during the forecast period.
The global demand for dairy enzymes is increasing significantly due to the increasing consumption of dairy products such as cheese and yogurt, growing demand for low-lactose and lactose-free dairy products, and environmental benefits associated with enzymes.
Based on type, the microbial rennet segment is projected to grow at the highest CAGR from 2017 to 2022. Microbial rennet is considered vegetarian-friendly as the enzyme produced by the microorganism is not derived from animals. Moreover, microbial rennet is less expensive than animal rennet. These are the major factors driving the growth of the microbial rennet segment, worldwide.
The cheese segment is estimated to account for the largest share of the global dairy enzymes market in 2017. Various microbes such as Aspergillus oryzae, Irpex, and Rhizomucor pusillus are extensively used for rennet production during the cheese making process. Most cheese producers expedite the curdling process with rennet, lactic acid, or plant-based enzymes from wild artichokes, fig leaves, safflowers, or melons. Other than plants and microbes, enzymes are also extracted from young ruminants.
The animal & microorganism segment is estimated to account for a larger share of the global dairy enzymes market in 2017. They are the most popular source of dairy enzymes preferred by manufacturers due to the extraction process. Also, comprehensive research on microorganisms is easier to perform and more cost-effective as compared to plant-sourced dairy enzymes.
The Asia Pacific region is projected to be the fastest-growing market for dairy enzymes during the forecast period as its economic importance has increased in the last decade. India and China are the main countries contributing to the high demand for dairy enzymes in this region. The region's enhanced industrialized growth over the years, followed by improvements in the food & beverage industry, has opened up new opportunities for the dairy enzymes market. The economic growth of the region, coupled with the increasing demand for nutritious dairy products is expected to fuel growth in the future.
North America is estimated to account for the largest share in 2017, followed by Europe. The consumption of dairy enzymes has been dominant in developed regions such as North America and Europe due to the presence of a developed food processing industry. The significant presence of a large dairy industry offers the North American dairy enzymes market a prominent consumer base as well as growth prospects.
The major restraining factors for the growth of the dairy enzymes market are the high chances of respiratory problems in people and allergies to various dairy products, especially milk. Dairy allergy is one of the major restraints for the dairy industry and, in turn, for the dairy enzymes market.
Companies such as Chr. Hansen (Denmark), DowDuPont (US), DSM (Netherlands), Novozymes (Denmark), and Kerry Group (Ireland) collectively account for a share of more than half of the dairy enzymes market. These companies have a strong presence in Europe and North America. They also have manufacturing facilities across these regions and a strong distribution network.
Market Dynamics
Drivers
-- Increasing Consumption of Dairy Products
-- Growing Demand for Low-Lactose and Lactose-Free Dairy Products
-- Environmental Benefits Associated With Enzymes
Restraints
-- Restricted Operational Conditions
-- Dairy Allergies
Opportunities
-- Emerging Applications of Dairy By-Products
-- Abolition of Milk Quota in the European Union
Challenges
-- Safety and Regulatory Aspects of Enzyme Use
-- Controversy Around Fermentation-Processed Chymosin (FPC) and GMO
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Dairy Enzymes Market, By Type
7 Dairy Enzymes Market, By Application
8 Dairy Enzymes Market, By Source
9 Dairy Enzymes Market, By Region
10 Competitive Landscape
11 Company Profiles
-- Advanced Enzymes Technologies
-- Amano Enzyme
-- Biocatalysts
-- CHR. Hansen
-- Connell Bros.
-- DSM
-- Dowdupont
-- Enmex
-- Fytozimus Biotech
-- Kerry Group
-- Novozymes
-- SternEnzym
For more information about this report visit https://www.researchandmarkets.com/research/3fvp5g/dairy_enzymes?w=5
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