Dairy Enzymes Market Worth 734.6 Million Usd By 2022

By Author: MarketsandMarkets
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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 global demand for dairy enzymes is increasing significantly due to the 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.

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Key Players:

This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as BASF (Germany), Solvay (Belgium), Ajinomoto (Japan), Clariant (Switzerland), and Albion Laboratories (US).

Other players include Shijiazhuang Donghua Jinlong Chemical (China), Galaxy Surfactants (India), Novotech Nutraceuticals (US), Schaumann (Germany), Dunstan Nutrition (New Zealand), Aliphos (Belgium), Chaitanya Chemicals (India), ...
... and Provit (Poland).

The Asia Pacific region is projected to be the fastest-growing market for dairy enzymes during the forecast period as its economic importance has increased in the last decade. India and China are the main countries contributing to the high demand for dairy enzymes in this region. The region’s enhanced industrialized growth over the years, followed by improvements in the food & beverage industry, has opened up new opportunities for the market for dairy enzymes. The economic growth of the region, coupled with the increasing demand for nutritious dairy products is expected to fuel growth in the future.

Based on type, the microbial rennet segment is projected to grow at the highest CAGR from 2017 to 2022. Microbial rennet is considered vegetarian-friendly as the enzyme produced by the microorganism is not derived from animals. Moreover, microbial rennet is less expensive than animal rennet. These are the major factors driving the growth of the microbial rennet segment, worldwide.

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The cheese segment is estimated to account for the largest share of the market in 2017. Various microbes such as Aspergillus oryzae, Irpex, and Rhizomucor pusillus are extensively used for rennet production during the cheese making process. Most cheese producers expedite the curdling process with rennet, lactic acid, or plant-based enzymes from wild artichokes, fig leaves, safflowers, or melons. Other than plants and microbes, enzymes are also extracted from young ruminants.