The global dairy enzymes market is projected exhibit a healthy CAGR during the forecast period, 2020-2030. The market is majorly fueled by the growing usage of biotechnology in food science. Increased production of items such as yogurt and cheese are anticipated to assist long term market growth.
“Widespread uptake of dairy products incorporating yogurt, and cheese is generating key growth prospects in the global market. Moreover, rising concerns over lactose intolerance has boosted the application of dairy enzymes in processed diary commodities.” says an FMI analyst.
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Dairy Enzymes Market – Key Highlights
- South Asia & Pacific will exhibit rapid growth pace, however, Europe will retain dominant position with major push from the cheese sector.
- Lipase type category will foresee high adoption rates, due to texture and flavoring applications.
- E-commerce distribution channels exhibits notable growth during 2020-2030.
- Cheese applications to account for majority of market share over the forecast period.
- Plant-based sources will be gaining traction in the global dairy enzymes market.
Dairy Enzymes Market – Drivers
- Rising diet trends comprising hydration habits and healthy snacking will be bolstering demand for dairy enzymes.
- Increased awareness about the advantages of personalized nutrition solutions are assisting growth over the forecast period.
- Extensive and high number of lactose intolerance cases across the nations has bolstered the demand for dairy enzymes.
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Dairy Enzymes Market – Restraints
- Growing cases of respiratory problems in people along with allergies to several dairy products, particularly milk can limit the market growth.
- Stern regulatory compliance as well as operational conditions is anticipated to restrain market expansion.
COVID-19 Impact on the Market
The impact of the COVID-19 outbreak on the global dairy enzymes market has majorly been adverse. A slump in demand for dairy products in the food service industry has become a key concern. On the other hand, the market is anticipated to regain its pre-crisis sales by the end of 2020. The market is anticipated to discover prospects amid the crisis due to customers demand for personalized nutrition, which is likely to extend the applications scope.
Key companies active in the dairy enzymes market are Novozymes, SternEnzym, DSM, Kerry Group, Danisco A/S, Dow DuPont, Amano Enzyme, Biocatalysts, CHR. Hansen and Advanced Enzymes Technologies. Companies in the dairy enzymes market are engaged in the expansion of their product portfolios with research into offerings for plant-based, low-lactose dairy usage attaining significance in the sector.
About the Study
The study offers readers a comprehensive assessment of the Dairy Enzymes market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of source (animal & microorganism, and plant), type (chymosin, microbial rennet, lactase, lipase, and others), application (milk, cheese, ice-cream & desserts, yogurt, whey, infant formula, and others), distribution channel (e-commerce, specialty retailers, supermarket/hypermarket), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
About Future Market Insights
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