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Dairy Enzymes Market Size Projected to Increase at a CAGR of 7% through 2025

Dairy Enzymes Market

iCrowdNewswire   Dec 5, 2019  12:38 AM ET

Dairy products are considered as one of the most important parts of a daily diet. Products including milk, cheese, cottage cheese, ice-cream and yogurt are manufactured with the help of certain body-friendly artificial dairy enzymes. Dairy enzymes are of multiple types, each of which perform different functions. For instance, certain enzymes can be used for coagulation purposes to make cheese and yogurt, while bio-protective enzymes are used specifically to improve the safety and shelf lives of products. The dairy industry uses these enzymes to add flavor, improve solubility, add sweetness, and enhance the quality of milk and milk products. Some dairy enzymes are also used as a taste enhancer in certain particular products. The varied application of dairy enzymes is the major factor positively impacting the dairy enzymes market. The demand for packaged dairy products is increasing owing to rapid urbanization, consumers seeking nutrition-on-the-go, and their acceptance and embracement of new improved flavored and textured dairy products. Some new products manufactured with dried whey and lactose are gaining huge popularity and are currently trending in the market. Flavored milk is another strong growth factor for the dairy enzymes market. The global dairy enzymes market size was valued at $565.4m in 2018. Growing and cyclic demands for dairy products are majorly propelling the dairy enzymes market, which is projected to grow at a CAGR of 7% during the forecast period 2019 to 2025.

Geographical Distribution in the Dairy Enzymes Market

In 2018, the North American region accounted for 32% of the global dairy enzymes market. The demand for packaged milk products such as yogurt, milk bars, and ice-creams in the region is fairly high, which is also resulting in a high market share. The introduction of flavored milk in the region was a staggering development for the dairy enzymes market, as it achieved enormous acceptance from consumers. Dairy companies developed flavored milk in multiple variants to cater to the high demand from consumers for a nutritional and healthy beverage. Another reason leading to increased sales of flavored milk is the growing awareness of the harmful effects of carbonated beverages, which is leading the regional population to increasingly adopt flavored milk as an alternative, thereby supporting the dairy enzymes market. The growing trend for consuming foods that are healthy and nutritional are augmenting demand for whey products in the market, which is ultimately contributing to increased revenues for the regional dairy enzymes market. Additionally, the demand for cheese in the region is high, since cheese is used as a taste enhancer in most snacks and fast food products. The U.S. is one of the main contributors to the dairy enzymes market, as the demand for cheese, whey, and yogurt is generally high in the country. According to the International Trade Corporation, the trade value of cheese and yogurt combined amounted to $1.3m in 2018 in the U.S. Considering the increasing demand for end-use dairy products in North America, the regional dairy enzymes market is projected to continue to witness growth in upcoming years. Moreover, the demand for dairy enzymes is seen to be increasing from the APAC region, mainly from countries including India, China and Japan. This demand is a result of the high amounts of consumption of dairy products by the population residing in the region.         

Application Analysis of Dairy Enzymes Market

Segmented on the basis of type, the microbial rennet is currently leading the global dairy enzymes market. The microbial rennet enzyme is gaining popularity at an incredibly fast pace, owing to two major properties, notablyly, its vegetarian origin and fast coagulation ability. This enzyme is produced by micro-organisms and is economically more feasible than the animal rennet. Microbial rennet is mainly used to produce cheese, which is considered to be the most important ingredient in some preparations especially in the North American and European regions. Therefore, the microbial rennet witnesses heavy demand from the European and North American markets. The variants of cheese products available in the market has increased in recent years, due to the use of microbial rennet. Thus, the increasing prevalence and popularity of cheese products is expected to boost the dairy enzymes market.

Trends Influencing the Dairy Enzymes Market

Dairy Enzymes Market Competitive Landscape

The companies influencing the dairy enzymes market are DowDuPont, Koninklijke DSM N.V., Kerry Group plc, Ingredion Incorporated, Advanced Enzymes Technologies, Amano Enzyme Inc., Connell Bros. Co. LLC, ENMEX, National Enzyme Company, and Enzyme Supplies Limited.

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