Enzymes play a vital role in processing of fruits and vegetables since they help in increasing the yield and throughput, reducing waste, saving time and money, and enhancing the overall quality of the final product. The global market for fruit & vegetable processing enzymes has been witnessing significant growth since the past few years.
The worldwide fruit & vegetable processing enzymes market is projected to reach a value of USD 41.39 Billion by 2022, growing at a CAGR of 6.7% during the forecast period from 2016 to 2022.
Based on application, the fruits segment is expected to be the fastest-growing segment over the forecast period. This growth is mainly due to the enzymes present in fruits, which help in increasing the shelf life along with other benefits in the form of vitamins and minerals that reduces the risk of many diseases. On the basis of type, the amylase segment took up the largest market share in 2015, since they are majorly used in industries like food & beverage, mainly because of its cost effectiveness and less time-consuming methods.
Based on product type, the juices segment was the dominant market in 2015, owing to the growth of the beverage industry, especially in Asia-Pacific that has led to an increase in the demand for fruit & vegetables juices.
How is the market progressing, geographically?
The market in Asia-Pacific is expected to grow at the highest CAGR over the forecast period, surpassing Europe as the second-largest consumer. This growth can be mainly attributed to the growth of the food & beverage industry in this region, especially India and China, thereby leading to a rise in the demand for fruit & vegetable processing enzymes.
Drivers and restraints for the market
The growth of the global market for fruits & vegetables processing enzymes is being primarily influenced by the following factors:
- High specificity of enzymes in biochemical reactions
- Huge demand for convenience foods
- Growing awareness regarding healthy and nutritional foods
- Improved quality and yield of fruit- & vegetable-based beverages
Apart from this, the emerging markets in APAC and Africa are expected to create an array of growth opportunities for the market in the years to come.
However, certain barriers in the brewing industry such as traditional brewing practices and restricted temperature and pH operational ranges are the factors that may hinder the growth of this market. Moreover, changing safety regulations regarding food enzymes in Europe remains a key challenge being encountered by the players in this market.
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Key players and strategies adopted for sustenance
The worldwide market for fruit & vegetable processing enzymes comprises major players such as E. I. du Pont de Nemours and Company (U.S.), Associated British Foods Plc (U.K.), Koninklijke DSM N.V. (Netherlands), Novozymes A/S (Denmark), and Group Soufflet (France). Some of the other players in the industry are Advanced Enzymes (India), Jiangsu Boli Bioproducts Co, Ltd (China), Sunson Industry Group (China), Biocatalysts (U.K.), and Amano Enzyme (Japan). New product launches, acquisitions, and expansions are the key strategies being adopted by these players for a sustained growth in the market as well as increase their global presence.