Dairy Enzymes Market by Type (Lactase, Chymosin, Microbial Rennet, Lipase), Application (Milk, Cheese, Ice Cream & Desserts, Yogurt, Whey, Infant Formula), Source (Plant, Animal & Microorganism), and Region - Global Forecast to 2022
“The dairy enzymes market is projected to grow at a CAGR of 7.18%.”
The dairy enzymes market is estimated at USD 519.4 million in 2017, and projected to grow at a CAGR of 7.18%, to reach USD 734.6 million by 2022. The market is driven by factors such as the increasing consumption of dairy products such as cheese, yogurt, and others, growing demand for low-lactose and lactose-free dairy products, and environmental benefits associated with enzymes. However, dairy allergies copulated with restricted operational conditions are among the major restricting factors for the dairy industry and, in turn, for the dairy enzymes market.
“The microbial rennet segment is projected to grow at the highest CAGR during the forecast period.”
Based on type, the microbial rennet segment is projected to grow at the highest CAGR during the forecast period. Microbial rennet is a coagulating agent and considered vegetarian-friendly as the enzyme produced by the microorganism is not derived from animals.
“The cheese segment is projected to grow at the highest CAGR during the forecast period.”
The cheese segment accounted for the largest share of the global dairy enzymes market in 2016 and is also projected to grow at the highest rate during the forecast period. Various microbes such as Aspergillus oryzae, Irpex, and Rhizomucor pusillus are extensively used for rennet production during the cheese making process. Most cheese producers expedite the curdling process with rennet, lactic acid, or plant-based enzymes from wild artichokes, fig leaves, safflowers, or melons. Other than plants and microbes, enzymes are also extracted from young ruminants.
“Asia Pacific is projected to be the fastest-growing market during the forecast period.”
Factors such as the increasing demand for processed dairy products coupled with rising awareness about low lactose and lactose-free dairy products among consumers will drive the dairy enzymes market in the region.
The global dairy enzymes market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Break-up of Primaries:
By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
By Designation: C Level - 25%, D Level - 30%, and Others* - 45%
By Region: North America - 20%, Europe - 25%, Asia Pacific - 40%, and RoW - 15%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report:
• Chr. Hansen (Denmark)
• DowDuPont (US)
• DSM (Netherlands)
• Novozymes (Denmark)
• Kerry Group (Ireland)
• Advanced Enzymes (India)
• Amano Enzyme (Japan)
• Connell Bros. (US)
• Biocatalysts (UK)
• SternEnzym (Germany)
• Enmex (Mexico)
• Fytozimus Biotech (Canada)
The report segments the dairy enzymes market based on type, source, application, and region. In terms of insights, this research report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the dairy enzymes market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the dairy enzymes market
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• To gain insights about the major countries/regions in which the dairy enzymes market is flourishing