The phospholipase enzyme market is estimated to be US$ 224 Bn in the year 2021 and is expected to grow at a Compound annual growth rate (CAGR) of 6.15% that would take the value of the Phospholipase enzyme market to US$ 432 Bn for the forecast period of 2022 to 2032.
Cheese is a popular food item all across the world. However, with increasing health-awareness among consumers, the preference for low-fat cheese is growing. Thus, manufacturers are looking for appropriate ingredients that will help them develop low-fat cheese. Phospholipase enzyme is a suitable option as it reduces the phospholipid content and enables the formation of low-fat cheese.
Also, the increasing per capita consumption of cheese makes it necessary for the manufacturers to increase the yield and quality of cheese to fulfill the requirements of the consumers. Thus, the demand for phospholipase is estimated to increase as it helps in the hydrolysis of phospholipids and improves the yield of cheese. It also aids in reducing the environmental impact of cheese production.
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Increasing Preference as a ‘Nutritional Value Preservative’ in Processed Foods Driving Revenues
Since the last few years, concerns about health and environment are rising among consumers. People are opting for natural products that do not cause any harm to health as well as the environment. Using chemical processing methods not only harms the environment, but also degrades the nutritional value of the product. Thus, the use of enzymes serves as an excellent option for the processing of the products. Also, end-use industries majorly focus on providing innovative products that are aligned with consumer requirements. It becomes necessary to maintain the nutritional value, as well as quality of the products to attract consumers. Thus, phospholipase enzyme is a suitable option, which helps to preserve the nutritional content and improves the quality of the finished product.
The demand for phospholipase enzyme is anticipated to increase in North America and Europe regions. The trend of clean-label and organic products is estimated to drive the growth of the phospholipase enzyme market in these regions. The phospholipase enzyme market is expected to grow at a medium pace in South Asia and East Asia regions. The rapidly growing population, increasing industrialization, and urbanization are some of the factors that are estimated to propel the phospholipase enzyme market growth in South Asia and East Asia regions.
Manufacturers of food and beverages, nutraceuticals, household care, and cosmetics are trying to establish themselves in emerging economies such as India and China, due to high population, availability of large labour pool, and economic feasibility. This further creates an opportunity for the manufacturers of phospholipase enzyme to improve their marketing strategies and increase their sales in South Asia and East Asia regions.
Increasing Applications in Bakery and Vegetable Oil Processing Boosting the Phospholipase Enzyme Market Growth
Various advantages offered by phospholipase enzyme are increasing its demand in the food and beverages industry. Phospholipase enzyme is used in the preparation of cheese as it improves yield and enhances flavour. It is also used in various bakery products to improve their shelf life, maintain moisture, and enhance the texture. The increasing demand for convenience and the healthy snacking trend are anticipated to increase the demand for bakery products, which is further estimated to have a positive impact on the phospholipase enzyme market.
The demand for vegetable oil is expected to rise due to the increasing population all across the world, which serves as one of the major drivers for the growth of the phospholipase enzyme market. Phospholipase enzyme is used in vegetable oil processing. Enzymatic degumming is a trending process used to obtain high-quality vegetable oil. Phospholipase enzyme is used for the degumming of vegetable oil, as it hydrolyzes the phospholipids present in the oil and helps to obtain good quality vegetable oil without the use of chemical degumming method. The use of phospholipase enzyme enables the manufacturers to develop low-fat vegetable oil and attract health-conscious customers. This, further increases its applications in various industries. Thus, the demand for phospholipase enzyme is estimated to increase.
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Key Research Findings – Phospholipase Enzyme Market
- The global phospholipase enzyme market size is anticipated to exceed US$ 200 Mn in revenues, by 2019 end.
- The global phospholipase enzyme market will witness ~ 6% CAGR over the forecast period, 2019-2029.
- North America and Europe will continue to hold prominent shares in the global phospholipase enzyme market during the forecast period.
- The increasing health-awareness and growing demand for clean-label products are estimated to have a positive impact on the phospholipase enzyme market.
- South Asia and East Asia phospholipase enzyme markets are estimated to grow at a medium pace.
- Improvement in economic conditions and government regulations, high population, and changing consumer preferences are driving the phospholipase enzyme market in South Asia and East Asia regions.
- By application, food and beverages is a prominent consumer of phospholipase enzyme market and is estimated to register steady consumption over the forecast period.
- Phospholipase enzyme helps to improve flavour, increase shelf life, enhance yield, improve texture, and provide several other advantages, which have increased its use in the food and beverages industry.
- The food and beverages industry is further categorized as bakery products, dairy, oil & fat processing, and flavour production. Bakery products occupy a major share in terms of revenue during the forecast period.
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