Market Analysis
According to a recent Market Research Future (MRFR) report, the Bakery Enzymes Market size is projected to reach approximately USD 1.47 billion by 2027 and is expected to register a CAGR of 4.71% during the forecast period of 2020 to 2027. Bakery enzymes are among the active ingredients in the production of bakery products such as bread, cookies, and biscuits, among others. The significant types of bakery enzymes include carbohydrates, proteases, and lipases. These enzymes carry different functionalities and assist in improvising the performance and freshness of the product.
The global Bakery Enzymes Market Industry is growing due to several factors. According to the most recent MRFR report, such factors include rising demand for various bakery products, particularly in developed countries, increased use in cookies and bread production, an increase in the working population, the trend toward ready-to-eat baked products, increased product innovation, and rising demand for sugar-free, gluten-free, and trans-fat baked products.
On the contrary, allergic reaction when used in excess and the grave impact of the COVID-19 outbreak may limit the global Bakery Enzymes Market Industry growth over the forecast period.
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Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global Bakery Enzymes Market Industry based on application and type.
By type, the global Bakery Enzymes Market Industry is segmented into lipases, proteases, carbohydrates, and others. The carbohydrates segment is again segmented into pentosanes, cellulose, and amylases. Of these, the amylases type will lead the market over the forecast period as this enzyme affects the product’s volume, shelf-life, texture, and fermentation.
By application, the global Bakery Enzymes Market Industry is segmented into cake and pastry, biscuits and cookies, bread, and others. Of these, the bread segment will dominate the market over the forecast period for its burgeoning demand in developed countries. Meanwhile, the biscuits cookies segment will have moderate growth during the forecast period.
Regional Analysis
Based on the region, the global Bakery Enzymes Market Industry report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Rapid developments in the food beverage sector, demand for food by the consumers that are tasty and healthy, and rising preference for pocket sandwiches, rolls, and wraps for the hectic work schedule are adding to the global Bakery Enzymes Market Industry growth in the region. The US has the maximum share in the region.
The global Bakery Enzymes Market Industry in Europe is predicted to hold the second-largest share over the forecast period. Product diversification, rapid innovations in the bakery industry, and the growing health-conscious population are adding to the global Bakery Enzymes Market Industry growth in the region. France, Germany, and the UK have a maximum share in the region.
The global Bakery Enzymes Market Industry in the APAC region is predicted to grow at a fast pace over the forecast period. Demand for more baked foods, urbanization, and modernization, rising preference for packaged foods, increased retail consumption, and rise in disposable income is adding to the global Bakery Enzymes Market Industry growth in the region. Besides, the booming food processing industry in India, Japan, and China is also adding market growth.
The global Bakery Enzymes Market Industry in the RoW is predicted to have sound growth over the forecast period.
Key Players
Key players in the Bakery Enzymes Market Industry report include BASF SE (Germany), Lallemand Inc. (Canada), Kerry Group Plc (Ireland), Dydaic International Inc. (US), BDF Ingredients (Spain), Caldic B.V. (Netherlands), Puratos Group Nv (Belgium), DowDupont Inc. (US), Amano Enzyme Inc. (Japan), SternEnzym GmbH Co. KG (Germany), Maps Enzyme Limited (India), Novozymes A/S (Denmark), DSM N.V. (Netherlands), Advanced Enzymes (India), and AB Enzymes GmbH (Germany).
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