Baking Enzymes Market size is valued at $ 698.43m in 2019, and is anticipated to grow at a CAGR of 5.22% during the forecast period 2020-2025. The Baking Enzymes Market growth rate is attributed to the increasing demand for bakery products by the food and beverage sector. The busy lifestyle of consumers is impelling much of the consumer-base in buying more ready-made and confectionary food items that are convenient for consumption. The bakery enzymes are preservatives that are added to bakery products to improve their taste, texture, color, etc. along with some important uses like fermentation and relaxation of dough, dough stability, prolonging crumb softness, providing flour enhancement and improving volume. These are even used to meet the changing demands of consumers like less salty, gluten-free bread, healthier and tastier bakery products. From efforts are being made to further improve the quality of these enzymes to enhance shelf-life to the rise in number of product innovations and the impact of e-commerce channels, social media, etc. is anticipated to propel the Baking Enzymes Market during the forecast period 2020-2025.
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Product Type – Segment Analysis
Carbohydrase segment the largest share in the market owing to wide application in various products as it is used in the production of wide range of baked products over other products. Apart from this, carbohydrase enzymes have high thermal stability and can potentially improve the texture and extend the shelf-life of the food products. Also, amylase is widely used for improving the loaf size, color and taste of finished baked products. Supporting regulatory standards led by FDA pertaining to GRAS approval of carbohydrase and amylase in food products should have positive influence on baking enzymes demand. Furthermore, protease enzymes are showing significant market growth as exoprotease hydrolyzes in to small amino acids owing to which it is showing an increasing application in waffles, crackers, and other bakery products, to improve texture and flavor, reduce flour protein strength, thus minimizing mixing time and elasticity of the dough along with increase dough softness.
Application Type- Segment Analysis
On the basis of Application type, bread segment held the major share of the market in terms of revenue and is set to grow with a CAGR of 3.59%. The reason is attributed to the fact as it is amongst the high consumable product in developed and developing economies from the wide application range. Bread is basically used as a major ingredient in widely consumed food products like pizza, burger, hotdog and others hence, is anticipated to witness continuous rise during the forecast period 2020-2025. Cakes and pastries of baking enzymes is believed to rise effectively as demands from regions is likely to grow with the launch of new products with better taste and flavor by various market players is anticipated to further expand the consumption rate over the projection period of 2020-2025.
By Geography – Segment Analysis
North America dominated the Baking Enzymes Market with a share of 38% in 2019. North America remains the largest consumer of Baking Enzymes owing to the growing awareness among consumers, huge preference for processed and convenience food products, of which, baked goods are a major part. Moreover, with high per capita income and changed the dietary patterns of the regional consumers, Europe is anticipated to register a notable CAGR over the forecast period, owing to the rising health-conscious population in the region. Consumers are buying products that are both healthy and tasty, with bakery enzymes contributing to this with their varied applications in the preparation of gluten-free and low-calorie bakery products. High initial capital investment on infrastructure and growing disposable income of the regional population are to cater the Baking Enzymes Market in the forecast period of 2020-2025.
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Drivers – Baking Enzymes Market
With the busy lifestyle of consumers, they are inclined towards buying more ready-made and confectionary products that are convenient to consume; especially various baked products in the food and beverage sector, which has led to the growing demand for baking enzymes in the food industry as the demand for natural and gluten-free baked products increases coupled with consumers interest in organic products can be considered as a Baking Enzymes key driver of the market during the forecast period 2020-2025.
Challenges – Baking Enzymes Market
The major challenge for the market is the high intake of baking enzymes, can cause allergies, headaches and ulcers. Furthermore, changes in temperature and pH level affect the ability of enzymes to bake and the stringent rules and regulations regarding the processing and preservation prior to distribution and sales is the major problem for some regions of Europe and Asia-Pacific. Apart from this, Genetically Modified Organisms (GMO) enzymes used in bakery products, causes harmful diseases that are immune to antibiotics thereby limiting the growth of the global baking enzymes market.
Baking Enzymes Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Baking Enzymes Market. In 2019, Baking Enzymes Market share is fragmented by the top ten players present in the market. Baking Enzymes Market top 10 companies are Novozymes A/S, Royal DSM, Enzymes GmbH, DowDuPont Inc., Advanced Enzyme Technologies Ltd., Dyadic International Inc., Engrain, SternEnzym GmbH & Co. KG, Amano Enzyme Inc., Aum Enzymes, Maps Enzyme Limited and others.
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