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Report Predicts Enzyme Market GrowthReport Predicts Enzyme Market Growth

August 30, 2006

2 Min Read
Report Predicts Enzyme Market Growth

According to a new report published last week by The Freedonia Group, Cleveland, domestic enzyme demand is poised to grow at an overall rate of 6.9% each year through 2010. The research firm notes that it based this prediction on existing and anticipated gains in several key markets, including starch processing. Although food and beverage manufacturers use the largest share of enzymes on a worldwide basis, enzymes are also key ingredients in textile, ethanol and pharmaceutical industries.

The United States is the largest market for enzymes, accounting for nearly 40% of the global market. However, China, India, South Korea and Taiwan might emerge as important markets for increased enzyme demand for food, beverage and other products. By 2013, the total value of the food and beverage enzyme market is estimated to reach $320 million.

The report notes that the market for enzymes in baked goods has grown the most over the last 10 years; demand doubled from $22 million in 1995 to $44 million in 2005. Dairy enzymes have increased 52% over the same time period, with a current value of $52 million. Enzymes for beverages are currently valued a $44 million, an increase of 47% since 1995.

Manufacturers are increasingly seeking solutions to boost processing consistency, efficiency and quality. Some of the most common enzymes used in the food industry include carbohydrases (like amylase), proteases and lipases. Demand for lipases has increased 100% since 1995, and is projected to increase another 71% by 2015. Lipolytic enzymes--lipases and phospholipases--find application in the manufacture of oils and fats, baked goods, and dairy products. Enzymes help extend the shelf life of baked goods, enhance savory meat and cheese flavors, and are used in corn syrup production for soft drinks. Beer and wine companies also make regular use of enzymes.

See http://www.freedoniagroup.com/for more information on the report.

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