A shift in the food choices of consumers and their inclination towards ready-to-eat and packaged food products have been witnessed in the recent past, owing to the fast-track life. Increased awareness of health and wellness is encouraging the food and beverage industry to accelerate the pace of innovations to meet the needs of the consumers and prevent the use of emulsifiers. These demands have caused an upsurge in the sales of bakery enzymes, on account of its property to offer reduced flour mixing time, increased oxidation, enhanced machinability, good fermentation rate, and dough firmness.
With the rising demand to improve the texture and quality of the baked goods, bakery enzymes are utilized as an innovative solution in the bakery businesses. Governments of various countries are underpinning the growth of the bakery enzymes market by legislating stringent laws to advocate the use of eco-friendly and clean label products. As a result, the bakery enzymes market is projected to achieve affluent growth in the forthcoming years. Approval received for the utilization of bakery enzymes is expected to bridge the prevailing gap between the producers and the end-user companies, which is yet another growth driver for the bakery enzymes market.
Bakery enzymes producers are gunning for the growth of their business by developing novel technologies for achieving innovative power stability at an affordable price. In addition to this, they are endeavoring to meet sustainability and streamlined supply chain management, in the bid to stay distinguished in the bakery enzymes market. A host of these robust demand drivers are expected to transform the existing scenario of the bakery enzymes market by clocking a striking CAGR of over 5% by the end of 2028, states a report published by Persistence Market Research (PMR).
APEJ Remains the Fastest Growing Bakery Enzymes Market Through 2028
The market study on global bakery enzymes comprises of regions such as Western Europe, North America, Asia Pacific excluding Japan, Latin America, Japan, the Middle East & Africa (MEA) and Eastern Europe. Among these geographies, APEJ is forecasted to procure a stimulating growth in the bakery enzymes market ascending from the rise in the government initiatives encouraging the adoption of bakery enzymes-based food products. The growth of the bakery enzymes market is further attributed to a large spectrum of products being launched in this demography.
Followed by APEJ, the growth of Europe can be attributed to the presence of manufacturing divisions for Pastry, Cake, Biscuit and Cookie, and Confectionery.
Carbohydrase to Contribute Massively to the Growing Size of the Bakery Enzymes Market
Another significant slice to the revenue of the global bakery enzymes market comes from carbohydrase, a bakery enzyme. It possesses high thermal stability, which in turn, is crucial for the bakery products. Owing to its widespread application in bakery products, it accounts for holding more than 45% market share in the APEJ region. As a result, APEJ remains the fastest growing region for the carbohydrase bakery enzymes market, which ultimately will tap the revenue for the bakery enzymes market.
Competitive Matrix of the Global Bakery Enzymes Market
The report includes a detailed analysis of the bakery enzymes market by observing the strategies of the key market players, which include, Danisco A/S (DuPont), Lallemand Royal DSM, AlindaVelco S.A., BDF Natural Ingredients, Amano Enzymes, Caldic B.V., Advanced Enzymes, DeutscheBack (Stern-Wywiol Gruppe), Novozymes, LEVEKING, BASF, VEMO 99 Ltd., Maps Enzymes Limited, Mirpain, AB Enzymes GmbH (Associated British Food), Corbion N.V., Puratos Group, E.I. Dupont De Nemours and Company, Engrain, Dyadic International, Dansico, Mirpain, and Kerry Group, among others.
These manufacturers are endeavoring in the direction to improve their source processes and technologies. This is underpinned by the local partakers of the bakery enzymes market across the globe. The companies involved in developing bakery enzymes are working towards diversifying their portfolio to meet the needs of the customers.
Persistence Market Research lends a decade-long prediction of the bakery enzymes market for the period 2018 to 2028. The bakery enzymes market is anticipated to clock an impressive CAGR of over 5% during this period. This market research describes the trends and market dynamics, which are projected to impact the present and the future growth prospect of the bakery enzymes market through 2028.
Bakery Enzymes Market: Scope of the Report
The report offers historical data for the year 2013, an approximate data for the year 2018, and prediction of the market through 2028 in volume (MT) and value (US$ Mn). The key focus of this study is to provide valuable insights into the development that influences the growth of the bakery enzymes market.
The bakery enzymes market is segmented on the basis of region, form, application, and product type. The market study also consists of a detailed analysis of restraints, key trends, and drivers for each of the geographies mentioned in this region. Cost structure analysis, Five forces model of Porter, scenario forecast, and PEST analysis are included in the report to equip the stakeholders with precise market insights.
In order to analyze the market size in volume, per capita consumption of the bakery goods and products has been considered in the significant consuming regions. The report encapsulates an overview and application of the bakery enzymes market in the food & beverage industry. Bakery enzymes find a wide range of applications in the bakery business.
A detailed analysis of the total average of the amount directly consumed versus the amount utilized for processing is discussed in the report. The average selling price for the bakery enzymes has been considered while analyzing the size of the bakery enzymes market in most of the consuming countries. The prices obtained from the analysis of individual regions were then converted into the USD, in order to a provide forecast in a uniform currency standard.
Bakery Enzymes Market: Research Methodology
A number of primary as well as secondary sources were interviewed for extracting valuable insights on the bakery enzymes market. The secondary sources such as Hoovers and Factiva, along with the publication of the company and the annual report has been included in the report. This detailed study on bakery enzymes market lends a decisive view of the existing competition in the market.
Bakery Enzymes Market: Key Segments Incorporated in the Report
In the bid to offer an incisive view of the bakery enzymes market, this descriptive market study is segmented on the basis of application, product type, regions, and form. Depending on the application of bakery enzymes, the global market is divided into cookies and biscuits, cakes and pastries, and bread.
Depending on the product type, the bakery enzymes market is fragmented into protease, carbohydrase, lipase, and the others. Depending on the form of bakery enzymes, the market is divided into liquid and powdered form. Geographically, the market is fragmented into Latin America, APEJ (Asia Pacific excluding Japan), North America, Middle East and Africa (MEA), Western Europe, and Eastern Europe.
Key Players of the Global Bakery Enzymes Market
Key players profiled in the report comprise of Danisco A/S (DuPont), Lallemand Royal DSM, AlindaVelco S.A., BDF Natural Ingredients, Amano Enzymes, Caldic B.V., Advanced Enzymes, DeutscheBack (Stern-Wywiol Gruppe), Novozymes, LEVEKING, BASF, VEMO 99 Ltd., Maps Enzymes Limited, Mirpain, AB Enzymes GmbH (Associated British Food), Corbion N.V., Puratos Group, E.I. Dupont De Nemours and Company, Engrain, Dyadic International, Dansico, Mirpain, and Kerry Group, among the others.
A detailed overview introducing the companies has been incorporated in the report. This extensive report on the bakery enzymes market analyzes the business strategies, market size, and market value for each of these companies. At present, the manufacturers of bakery enzymes are leveraging technology, with the view to diversify their product portfolio.