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18 Nov 2022, 20:15 GMT+10
The sales of bakery enzymes are estimated to be valued at US$ 883.7 Mn in 2021. As per Future Market Insights (FMI), the overall bakery enzymes market value is expected to reach US$ 1,452.3 Mn by 2031, rising at a CAGR of 5.1% for 2021-31.
Sales of bakery enzyme will represent 1.5% to 2.5% of the overall demand in the global enzyme market. The key manufacturers operating in the global market realigning their strategies as consumers shift towards a healthier lifestyles and the growing popularity of artisanal baked goods propelling the growth of bakery enzyme.Accounting for half of the total sales of bakery enzymes, carbohydrase continues to witness higher demand as compared to protease and lipase. In recent years, the rise of convenience, on-the-go, and better-for-you trends resulted in increased demand for innovative yet healthy food ingredients, thereby potentially raising sales of carbohydrase.
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This can be attributed to plant-based origin of carbohydrase, in addition to extending shelf-life of breads and cakes and helping in digesting certain types of carbs. As bakers are on the journey of producing goods that appeal to growing number of health-conscious consumers, market players are also focusing on capitalizing on protease and lipase.
Key Takeaways - Bakery Enzymes Market Study
Unlike the accelerating costs of emulsifiers, which are also among the most widely used bakery products ingredients, the costs of bakery enzymes have been relatively stable. This cost stability will continue to augur well for the sales of bakery enzymes in future as well.
Which Are the Key Market Growth Limiting Factors?
Despite witnessing lucrative growth opportunities, the bakery enzymes market is restrained by a few challenges. For instance, fluctuations in pH and temperatures pose threat to the market. For instance, increasing in temperature can increase the overall rate at which enzyme- catalyzed reactions take place. In addition to this, safety concerns pertaining to handling bakery enzymes may restrain the growth of bakery enzymes market during the period of projection.
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Market Segments Covered in Bakery Enzymes Industry Analysis
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FREQUENTLY ASKED QUESTIONS ABOUT BAKERY ENZYMES MARKET
Increasing consumer inclination towards ready-to-eat and packaged food, further complemented by rise in awareness about health and wellness, continues to fuel an upsurge in consumption of bakery enzymes.
An increase in the stringent regulation enforced by governments regarding clean-label and eco-friendly products continues to spur the demand for various bakery enzymes. This will predominantly drive sales of bakery enzymes at a CAGR of 5.8% over the projection period 2019 - 2029.
Carbohydrase contributes a lion's share to the growing size of the bakery enzyme market. It would continue to see significant uptake, as it possesses high thermal stability suitable for bakery products. Lipase has also been witnessing rise in demand.
In line with consumer inclination towards high-quality and innovative bread products, the bread making industry is observing significant growth over the recent past. Bakery enzymes are thus witnessing a rapid change in consumption pattern, as they are responsible for improved dough handling and a rich texture.
A sizeable consumer population is allergic to bakery enzymes, if used in excess. Moreover, a measurable chunk of bakery consumers refrains from buying products that contain microorganisms-based bakery enzymes. These factors will continue to restrict consumption of bakery enzymes to a large extent.
Over the next 10 years, North America will continue to lead the bakery enzyme market. Additionally, Asia Pacific (excluding Japan) will witness substantial growth owing to favorable government initiatives related to adoption of baked products that contain bakery enzymes.
Top Reports Related To Food and Beverage Market Insights
Food Enzymes Market: The food enzymes market is projected to register an average CAGR of 6.5% during the forecast period.
Agricultural Enzymes Market: Agricultural Enzymes Market - Global Industry Analysis, Size and Forecast, 2022 - 2032
Alcohol Dehydrogenase Enzymes Market: The Alcohol Dehydrogenase Enzymes market is valued at USD 695.8 Mn in 2022 and is projected to grow at a CAGR of 6.5% during the forecast period, to reach a value of USD 1,302.0 Mn by 2032.
Marine Enzymes Market: The Marine Enzymes market is valued at USD 463.7 Mn in 2022 and is projected to grow at a CAGR of 7.0% during the forecast period, to reach a value of USD 912.1 Mn by 2032.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Bakery Enzymes Market Value is Expected to Reach US$ 1.45 Bn by 2031 | Future Market Insights Inc. appeared first on Future Market Insights.
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