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Dairy Enzymes Market: New Product Launches, Expansions & Investments, Agreements & Partnerships
The dairy enzymes market is estimated at USD 519.4 Million in 2017, and is projected to reach USD 734.6 Million by 2022, at a CAGR of 7.18% during the forecast period. The market is driven by factors such as increasing consumption of dairy products such as cheese and yogurt, growing demand for low-lactose and lactose-free dairy products, and environmental benefits associated with enzymes.
The key players profiled in the dairy enzymes market, which have a strong global presence, include DowDuPont (US), DSM (Netherlands), Chr.
Hansen (Denmark), Novozymes (Denmark), Advanced Enzymes Technologies (India), Kerry Group (Ireland), Amano Enzymes (Japan), Fytozimus Biotech (Canada), Enmex (Mexico), SternEnzym (Germany), Biocatalysts (UK), and Connell Bros (US).
The key market players adopted various growth strategies such as new product launches, expansions & investments, agreements & partnerships, and mergers & acquisitions to cater to the increasing demand for dairy enzymes. Companies have been expanding their operations in various regions across the globe to establish themselves as the leading players in the dairy enzymes market.
Chr. Hansen, one of the global leaders in the dairy enzymes market, offers dairy enzyme products for the improvement of flavor, color, texture, safety, preservation, and imparting health benefits. The company offers a range of cheese and dairy enzymes through its food cultures and enzymes segment. It invests in expansions for the development of R&D facilities to cater to its widespread customer base and focuses on launching new products.
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For instance, in October 2014, Chr. Hansen launched a new preservative-free animal rennet range called NATUREN. This launch strengthened the company’s product portfolio in the enzymes segment. The company has further increased its product portfolio in the dairy enzymes market through new product launches. For instance, in June 2016, the company launched NOLA Fit, a lactase enzyme for lactose-free yogurt and other fermented milk products.
DowDuPont provides a wide range of dairy enzymes, including lactase, chymosin, lipases, and other products for various applications such as cheese, yogurt, and other dairy products. The company focuses on new product launches and the expansion of its research and innovation facilities. For instance, in January 2017, DowDuPont expanded its R&D facility located in Kansas City, US, with technologically advanced equipment. Further, in April 2017, DowDuPont introduced GODO-YNL2, a liquid lactase enzyme, targeting the lactose-free dairy market.
In 2017, the North American region is estimated led the global market for dairy enzymes. Factors such as the presence of major players in the US, high awareness about food and dietary supplements, and significant demand for dairy enzymes from the feed industry will drive the market growth in North America.
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