The rising inclination towards plant-sourced ingredients is fueling the global sales of bromelain-based products. Bromelain is becoming commonplace in different applications, from digesting proteins in industrial settings to preventing dough re-shrinkage in bakery stores. In addition, the enzyme has become a vital component in various cosmetic formulations including, anti-aging solutions, and skin conditioners. As consumers are demanding for ready-to-eat and ready-to-drink products, the market for bromelain is set to follow a positive growth trail.
In its recent market intelligence study, Persistent Market Research suggests that the global oil and gas pipes market is projected to grow at a moderate CAGR of ~4% over the forecast timeframe (2017-2025), generating about US$ 700 Mn revenues. The market growth is primarily driven by the surging requirement for clean-label and organic products from diverse industries.
Food & Beverage and Pharmaceutical Sectors - Key Revenue Generators
Bromelain is finding immense applications in the food & beverage sector owing to its proteolytic attribute. This study reveals that the adoption of bromelain in food & beverages is expected to remain prominent throughout the foreseeable period. Further, the food & beverage industry is anticipated to represent an incremental $ opportunity of about US$ 130 Mn during the timeframe.
In the end-use industry, bromelain is majorly utilized as a meat tenderizer. The demand for meat accounts for a significant share in the worldwide food & beverage vertical, with consumers increasingly looking for processed as well as ready-to-consume meat items. Conventional approaches of tenderizing meat via the method of marination requires a lot of time and resources. Bromelain enzyme aids in reducing post-process preparation time and production expenses in sync.
On the other hand, the usage of bromelain in the pharmaceutical sector represents an incremental $ opportunity of slightly over US$ 100 Mn through 2025. The pharmaceutical sector uses bromelain in various medical formulations, such as burn recovery ointments, dermatological solutions, and anti-inflammatory drugs. Furthermore, the consumption of bromelain in food & beverage and pharmaceutical verticals is poised to collectively hold above 85% share of total market sales over the period of projection.
Market Players Target North America and Europe for Worthwhile Returns
Accounting for over a third market share, North America continues to offer lucrative opportunities to market players. The detergent sector in the region remains the top adopter of enzymes, while the household care industry considerably depends on enzymes, including bromelain, in various products. As the demand for meat products in North America is consistently increasing, market players are reaping high returns. Furthermore, bromelain is used in teeth whitening products, which again is offering white spaces to manufacturers.
Europe also represents incremental opportunistic potential, contributing to around 30% market share. In Germany, bromelain is notably consumed as a health supplement for treating inflammation as well as swelling of sinus post surgery. In addition, bromelain is beneficial in tackling wrinkles, acne, and dry skin. Leading players based in Europe are shifting towards continuous R&D activities to produce innovative products containing bromelain.
In Asia Pacific (APAC), bromelain is utilized in textile processing as an eco-friendly approach. Swelling technological innovation in the textile sector accents rising demand for bromine enzymes. Further, market players are viewing the pharmaceutical industry in APAC from a target market perspective.