Bromelain Market 2020 is all set to touch USD 1154.4 million by 2027, suggests the latest study by MRFR (Market Research Future. MRFR also expects the market’s growth rate to be 4.39% over the review period (between 2018 and 2027). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Top Boosters and Challenges
Growth of industries like bakery, dietary supplements, beverage and cosmetics as key end-users for bromelain in countries such as Indonesia, the U.S., France, Germany, India, South Africa, Brazil and China can translate into heightened product demand in the years to come. Bromelain’s use in the healthcare industry has been increasing at a promising rate, given the intense R&D activities to expand the product’s application scope for the treatment of HIV, cancer and inflammatory diseases such as coeliac disease, asthma, glomerulonephritis, hepatitis, as well as autoimmune diseases.
The escalating disposable income and the amplified number of end-users in the global market can result in significant business growth during the evaluation period. One such end-user is the cosmetics industry, which has been integrating bromelain as a key ingredient in various formulations. Besides, the market has also been bolstered by the strong demand for natural ingredients and the surge in the setting up of various biorefinery plants across the world. Skincare products containing bromelain are used extensively around the world, mainly to reduce acne, dry skin and wrinkles. On the other hand, the seafood and meat industry also makes widespread demand for the target product, for improving the tenderness of pork, beef, squids and chicken.
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It is expected that the heightened demand for bromelain in the health care industry can offer attractive opportunities to the market leaders in the years to come. Intense R&D activities being conducted by renowned firms to boost the application scope of bromelain, especially in the healthcare industry, is working in the market’s favor.
Bromelain industry has been extensively reviewed in the MRFR report, with source, type, and application considered as key segments for an enhanced understanding of the latest trends.
Sources mentioned in the report are fruits as well as stems. The best source is considered to be stem, which acquired a share of 88% in the global market in 2017, while fruits managed to seize a share of 12% the same year. Stems segment can reach a valuation of USD 931.6 million by 2027, whereas fruits can expand to approximately USD 123.4 million by 2027 at a rate of 4.32%.
The types of bromelain in the market are 1,200 GDU/g, 2,000 GDU/g, 2,500 GDU/g, and more. The 2,000 GDU/g segment can be in the leading position in the coming years while the 2,500 GDU/g segment can advance at the highest rate of 4.94% to reach close to USD 281.3 million by 2027.
The applications of bromelain are healthcare, food & beverages, dietary supplements, and more. The dietary supplements segment, in 2017, accounted for a share of 39.6% in the market, trailed by healthcare with a share of 35.6% and food & beverages with a 19.4% share. The others segment claimed a share of 5.4% in the global industry. Dietary supplements segment can expand to USD 425.0 million by 2027 and the healthcare segment will touch USD 378.4 million by the same year. Healthcare segment’s growth rate is anticipated to be 6.64?tween 2018 and 2027.
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Regionally, the bromelain industry has been studied with respect to North America, Asia Pacific or APAC and Europe, along with RoW or Rest-of-the-World.
Since 2017, North America has remained the top performing market, with Europe, APAC and RoW right behind. North America’s formidable position in the global market is the outcome of the burgeoning meat industry and the high uptake of dietary supplements among consumers. The high uptake of energy-efficient technologies and the escalating number of R&D activities for the development of high quality products in the region can present attractive opportunities to the major players. Apart from this, the soaring use of natural enzymes for developing various medications could also foster the product demand in the years to follow.
Europe has been second highest gainer since 2017, thanks to the high use of bromelain as a meat tenderizing agent in processed foods and ready-to-eat products. The escalating use of bromelain in the cosmetics industry coupled with the extensive adoption as a dietary supplement, especially in Germany can also benefit the European market.
Krishna Enzytech Pvt. Ltd. (India), Advanced Enzyme Technologies (India), Enzybel Group (Belgium), Fooding Group Limited (China), Changsha Natureway Co., Ltd. (China), Enzyme Development Corporation (U.S.), Creative Enzymes (U.S.), Hong Mao Biochemicals Co. Ltd. (Thailand), Nutriteck (Canada), Food State Company (U.K.), are some of the top vendors in the global market.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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