The global protease market is holding a valuation of USD 2.1 billion in 2023. The market is expected to reach a valuation of USD 4.6 billion by 2033. The sector is anticipated to witness a growth of 7.8% during the forecast period.
The food industry is experiencing significant growth globally, with a notable surge in demand for protease due to its ability to enhance flavor and improve texture. Additionally, protease consumption has been associated with better metabolism. Rapid urbanization has led to unhealthy eating habits and sedentary lifestyles, adversely affecting gut health. Protease applications are demonstrating a positive impact, promoting healthier gut function. Furthermore, increasing awareness of the benefits of protease is anticipated to accelerate market growth.
Manufacturers find protease production highly profitable, thanks to its cost-effectiveness and potential for resource optimization, which can facilitate scaling up production. Additionally, detergent and pharmaceutical companies are also seeking bulk quantities of protease, highlighting its versatility.
There is a rising demand for beverages and meat products, with protease playing a key role in the malting process of beverages and enhancing meat tenderness for manufacturers. This growing consumption represents a significant opportunity for protease sales.
Moreover, the consumption of dairy products is on the rise, with protease being used to prevent milk coagulation. However, the market faces challenges, particularly due to the high costs associated with the extraction process. Additionally, a shortage of both plant and animal-based proteases may further hinder market growth.
Thus, from the insights provided by the FMI analysts, it may be concluded that ‘increase in the consumption of meat, dairy products, beverages, surging cases of lifestyle diseases, and many other factors are expected to surge the protease market growth.’
Key Takeaways:
- The market is valued at USD 2.1 billion as of 2023.
- By 2033, the market is expected to be valued at USD 4.6 billion.
- The market is expected to grow at a CAGR of 7.8% during the period 2023-2033.
- Based on the regional analysis, North America is expected to be the largest market during the forecast period.
- The USA market is expected to grow at a CAGR of 5.6%.
- UK market is expected to advance at a CAGR of 9.5%.
- China protease market is projected to surge at a CAGR of 7.9%.
- Japan market is anticipated to grow at a CAGR of 7.2%.
- South Korea market is projected to advance at a CAGR of 9.1%.
- Based on form, liquid segment is expected to hold the highest market share, and is anticipated to surge at a CAGR of 8%.
- Based on product type, the microbial segment is projected to hold the largest market share, and is expected to advance at a CAGR of 7.8%.
Competitive Landscape
The protease market has been witnessing an increase in mergers and acquisitions. There has also been a surge in the number of strategic partnerships. This has been done with a view to access important resources from other niches. There are massive investments being made in the R&D aspect of the business to upgrade the existing versions. Special emphasis has been laid on appointing the right business heads, who carry vast experiences with them.
In October 2022, Novozymes and Biotalys announced successful EVOCA feasibility test.
Protease Market Segmentation
By Form:
- Liquid,
- Powder & Granule
By Product Type:
- Animal (Trypsin, Renin, Pepsin, Others),
- Plant (Papain, Keratinases, Others),
- Microbial (Alkaline, Acid Stable, Neutral, Others)
By End Use Application:
- Dairy products
- Brewing
- Meat Products and Processing
- Bakery & Confectionary (Breads, Cookies & Crackers, Pastries, Waffles, Other Bakery & Confectionary)
- Baby Food/ Infant Food
- Oil & Fat Processing
- Starch and Grain Processing
- Fruits and Vegetable Processing
- Cheese Making/ Processing
- Egg Products
- Beverages
- Dietary Supplements
- Pharmaceutical Products
- Personal Care Products
- Animal Nutrition
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa(MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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