Canada Food Enzymes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canada Food Enzymes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canada food enzymes market is projected to grow at a CAGR of 4.61% during the forecast period (2020 - 2025).

Key Highlights

• The demand for processed and packaged foods is growing with the need to provide food security and safety. However, due to complexities in the global food supply chain, there is a need to add food additives to keep intact the nutritional content and maintain the shelf life.
• Apart from these reasons, the increasing penetration of organized retail in urban and rural centers globally seem to drive the need for food enzymes. The key restrains the market faces is in terms of the unclear regulatory process and high Research and development costs.

Key Market TrendsBakery Enzymes Drive the Market

Bakery products, due to their significant nutrient value and affordability, are consumed on a high scale. The demand for baked goods in Canada has moved from the traditional bread consumption trend to the increasing consumption of bakery goods, such as pancakes, cupcakes, croissants, and rolls. This, in turn, has surged the demand Associated ingredients including bakery enzymes. Food enzymes are used as an invaluable aid in the production of bakery items, such as bun, bread, cake, biscuit, and others. Food enzymes offer several benefits to food processors during the production process, in terms of quality, yield, and time, making it highly desirable for manufacturers to incorporate bakery enzymes in the formulation.

Carbohydrases Held the Largest Market Share

With extensive use of enzymes like amylase, cellulase, xylanase, and pectinase, in diversified applications, the category Carbohydrases emerged as the most preferred enzyme by food manufacturers. Nonetheless, the enzyme also facilitates the production of growing several sugar substitutes and conventional sugars syrups such as glucose, fructose, and inverted sugar syrups, and prebiotics. Beverage manufacturers are progressively using carbohydrases in beverages in order to improve the sensory properties of juices and wines and to reduce lactose in milk.

Competitive Landscape

Canada food enzyme market is highly fragmented owing to numerous players present at the regional and country levels. Some of the players who have been profiled in this report include ABF Ingredients, Novozymes, Kerry Inc., Tate & Lyle among others. The market sees opportunities for growth in the country as food enzymes reduce water, energy and wastage costs. The market needs amendments to develop a set of guidelines to regulate the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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