Global COVID-19 Pandemic Impact on Bromelain Market is expected surge at 4.60% CAGR during the forecast period (2020-2025) to reach a valuation of USD 1,055.1 million by 2025, states Market Research Future (MRFR). The market is projected to expand in size owing to the varied scope of bromelain in various end-use sectors. The pharmaceutical industry can benefit from the anti-inflammatory properties of bromelain which can aid in digestion. In addition, studies conducted by researchers unearthed the cancer cell killing potential of the enzyme. This can bode well for the market growth and spike up the demand for bromelain.
Novel extraction processes which can ensure the purity and quality of the enzyme is likely to lead to rapid investments in the market. Ultrafiltration, salt precipitation, liquid-liquid extraction, chromatography, and aqueous two-phase systems are some of the processes incorporated by market players. In addition, attention to metrics such as temperature, hydrophobicity, affinity, and pH can improve the grade of bromelain exponentially.
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The cosmetics industry has embraced bromelain as an ingredient in their formulations. The increasing demand for natural ingredients coupled with establishment of biorefinery plants is likely to boost the demand for the bromelain market exponentially. The move can also be linked to expansion of product portfolios which reflect the inclusion of proteolytic enzymes. But huge extraction costs can be detrimental for the market growth.
Eminent names mentioned in the Bromelain Market report include Enzybel Group (Belgium), Changsha Natureway Co., Ltd. (China), Nutriteck (Canada), Enzyme Development Corporation (U.S.), Fooding Group Limited (China), Krishna Enzytech Pvt. Ltd. (India), Creative Enzymes (U.S.), Hong Mao Biochemicals Co., Ltd. (Thailand), Food State Company (U.K.), and Advanced Enzyme Technologies (India). New product launches, mergers & acquisitions, and expansions are strategies chalked out by these players to gain a firm standing in the market.
The burgeoning COVID-19 Pandemic Impact on Bromelain Market is segmented by source, type, and application.
Best source of bromelain has been acquired by stem with 88% share of the market in 2017, followed by fruits (12%) in the same year. Stems can account for USD 931.6 million by 2025. This can be attributed to healing properties of bromelain which can reduce swelling and expedite the recovery rate. On the other hand, fruits can accrue revenue close to USD 123.4 million by 2025, at a 4.32% CAGR over the forecast period. The abundance of vitamin C found in pineapples which can boost immunity levels and aids in digestion can drive the segment growth till 2023.
By type, the bromelain market is segmented into 1,200 GDU/g, 2,000 GDU/g, 2,500 GDU/g, and others. The 2,000 GDU/g segment is projected to maintain its dominant position over the forecast period. Its medium enzyme concentration levels have widened the scope for the segment. The 2,500 GDU/g segment is expected to exhibit the highest CAGR of 4.94% over the assessment period to generate nearly USD 281.3 million by 2025. Emergence of various pharmaceutical applications requiring bromelain is likely to sustain this segment.
Among applications, dietary supplements accounted for 39.6% share of the market in 2017, followed by healthcare (35.6%), food & beverages (19.4%), and others (5.4%). Dietary supplements can account for the highest market volume of 233,094.7 kg by 2025. It can touch a valuation of USD 425.0 million by 2025. Healthcare follows dietary supplements as the next biggest application. It can touch a value of USD 378.4 million by 2025. It can accrue a market demand of 208,127.1 kg by 2025 at a CAGR of 6.64% during the forecast period.
Geographical analysis of the Global COVID-19 Pandemic Impact on Bromelain Market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America accounted for 35.5% market share in 2017, followed by Europe (32.3%), APAC (20.9%), and RoW (11.4%). North America can account for a large portion of the bromelain market by 2025. High demand for the enzyme in processed and ready-to-eat products is likely to boost the regional bromelain market.
On the other hand, the APAC bromelain market is expected to accumulate massive revenue at 5.02% CAGR during the forecast period. Establishment of bromelain manufacturing units in Thailand, China, and Indonesia is likely to facilitate rapid growth of the regional market. China and India can contribute heavily to the market owing to investments in proteolytic enzyme manufacturing units.
The Europe region is expected to generate close to USD 343.3 million by 2025 at a CAGR of 4.71% during the forecast period. The booming pharmaceutical and cosmetic sectors which prefer natural ingredients is likely to boost the market demand considerably. In addition, use of bromelain to strengthen the immunity of humans and farm animals can open up growth opportunities. Germany is the biggest contributor to the bromelain market owing to a thriving healthcare sector and emergence of various hospitals and pharmacies.
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