Dairy Enzymes Market

Dairy Enzymes Market Size, Growth, Forecast (2023-2028)

Dairy Enzymes Market size was worth USD 595.5 million in 2022, and it is determined to reach a valuation of USD 917.7 million, registering an annual expansion rate (CAGR) of 7.25% between 2023 and 2028.

Market Overview:

Enzymes are types of proteins that cause a specific type of desired reaction. Enzymes act as coagulants and are used to make yogurt or cheese. Some enzymes are also used to add sweetness, flavor, and improve solubility. Also, enzymes are used to improve the quality of milk and dairy products. Enzymes are proteins with specific biological functions. In the dairy industry, these enzymes are necessary for the production of various dairy products such as yogurt and cheese. Dairy enzymes are also used to modify the properties of milk proteins, accelerate cheese production, and are applied as coagulants in a variety of dairy products. Recent developments in food enzyme discovery technology in the areas like extracting microbial sources for the dairy industry is supposed to promote business growth. As a result, commercial food grade soluble microbial enzymes have the potential to grow rapidly in the near future. Dairy enzymes can be used to make low-lactose products. This helps people with mild lactose intolerance to enjoy dairy products. With the increasing prevalence of lactose intolerance, people are switching to these products because it can be considered uncomfortable to consume lactose-containing products every time they take lactose intolerance medications.

Dairy Enzymes Market Growth:

The growth of the Dairy Enzymes market is mainly due to the increase in the consumption of dairy products related to healthy eating habits.

REPORT COVERAGE:

Drivers:

Increasing consumer need for dairy products is a major factor driving the growth of the global dairy enzymes market. The use of enzymes not only saves water, energy and chemicals, but also improves the shelf life of food products. Raising awareness of the benefits of dairy consumption is another factor driving the growth of the world market. Also, the increasing availability and popularity of different types of scented dairy products is supposed to drive the growth of the global dairy enzyme market in the near future. The market for dairy enzymes in general has grown as consumption of dairy has increased around the world. This is because people are becoming more and more aware of the benefits of consuming dairy products. Enzymes are also used in lactose-free dairy products. The increasing call for lactose-free dairy products among the lactose-tolerant population and consumers is a factor driving the growth of the global market. Additionally, the environmental benefits associated with enzymes are driving the growth of the dairy enzyme business. New dairy by-product applications are supposed to provide growth opportunities for the dairy enzyme market and key players during the outlook period. The Dairy Enzymes market growth has accelerated as the overall consumption of dairy products worldwide increases. This is mainly due to an increased awareness among people about the main benefits of consuming dairy products, such as strong bones and better memory. In fact, the consumption of high-protein dairy products such as cheese and cottage cheese (panel) as people around the world increase their health awareness. This has led to increased use of key protein-rich products, including natural whey protein. The launch of new types of dairy products used by consumers with different needs is also estimated to contribute to the growth of the market.

Furthermore, milk-based dairy products are being adopted among the world population due to the increase in milk allergy and lactose intolerance. Dairy enzymes are being distributed to make low-lactose products. These advances are helping people with mild or low lactose intolerance to easily consume and enjoy dairy products. Because the incidence of lactose intolerance around the world is increasing worldwide, people are actively adopting these low-level lactose-based dairy products. The introduction of new types of dairy products that can be used by consumers with different requirements will also lead to market growth. Increased awareness of people's health has resulted in an increased consumption of protein-rich products. This has led to an increased use of products like organic whey protein. The surge in people's disposable income has also led to the overall growth of the market. The dairy enzyme market is foreseen to grow in the projection period due to factors such as increased dairy consumption combined with high demand for lactose-free and low-lactose dairy products. Introducing low-cost organic, natural-flavored dairy products can create huge revenue opportunities for players in the Dairy Enzymes markets.

Restraints:

Controlled operating conditions and associated dairy allergy are hampering the growth of the global dairy enzyme market. Safety laws regarding the use of enzymes in food and allergic reactions to dairy products can hamper the growth of the market for dairy enzymes. The high initial investment in the dairy enzyme industry has proven to be a stumbling block for several small manufacturers. This is currently the main limitation facing the world market for dairy enzymes. Strict regulations on the use of enzymes by people in a variety of dairy products, especially milk and various foods, are foreseen to hamper the Dairy Enzymes market boom.

Dairy Enzymes Market Segmentation Analysis:

By product type, the Dairy Enzymes market is segmented into proteases, carbohydrase, lipases, phytases, polymerases and nucleases and other enzymes. Carbohydrase are expected to occupy the highest share in the global industry in 2020 due to the various benefits of ingredients such as amylase, which provides a simpler optimization and modification process, high cost-effectiveness and minimal time consumption that supports the industry dominance. Proteases perform a variety of breakdown and synthetic functions and are found in animals, microorganisms, and plants. Bacillus species are the most widely used microorganisms for the production of proteases. Proteases are considered an alternative to chemicals that do not cause any harm to the environment.

By source, the Dairy Enzymes market is segmented into animals, plants and microorganisms. The animal and microbial sector is expected to account for the majority of the global market by 2020. Animals and microorganisms are a very common source of dairy enzymes preferred by manufacturers mainly due to the simplicity of the extraction process. Additionally, the extensive research to be conducted on microorganisms is simpler and more cost-effective to perform compared to plant-based dairy enzymes.

On the basis of application, the Dairy Enzymes market is segregated as milk, cheese, ice cream, yogurt, desserts, whey, infant formula, and others. Cheese applications are likely to grow more rapidly in the global dairy enzyme market in 2020. Besides, cheese is also an important dairy product consumed in Europe. The high preference for cheese over other dairy products is one of the main reasons for the high consumption of cheese in Europe.

Impact of COVID-19 on the Dairy Enzymes Market:

During the coronavirus pandemic, many small dairy enzyme manufacturers were severely affected as lockdowns in many countries made it difficult for people to rely on external channels. However, consumer behavior has changed dramatically, opening up new opportunities for midsize and large manufacturers to expand their product sales during the third quarter of 2020.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

North America is the largest revenue contributor and has a significant market share. The growth of the market is mainly due to the great awareness of people about healthy diets and dietary supplements. In addition, the demand for dairy enzymes is notable among those who demand very specific foods. Additionally, the presence of major industry players in the United States, a strong understanding of dietary supplements, and a significant demand for dairy enzymes in the pet food industry are also supposed to drive growth in the North American Dairy Enzymes market. Additionally, strong distribution channels are further strengthening market growth in North America. Therefore, substantial knowledge of dietary supplements is likely to contribute to the growth of the regional market by fostering the adoption of Dairy Enzymes in North America. Made up of major countries such as Germany, Denmark, the United Kingdom, Italy, France and the Netherlands, Europe is anticipated to have the second highest market share after North America in 2019. The abolition of milk quotas across the Union European is a major factor driving the growth of the European Dairy Enzymes market and the mass consumption of cheese in developed countries across Europe is driving the market. There is also a growing trend for consumers to adopt low and medium lactose dairy products which are foreseen to contribute to European industrial growth.

Key Players in the Market:

Major key Players in the Global Dairy Enzymes Market are

• Fonterra Co-op Group Ltd
• Danisco A/S
• DSM Food Specialties BV
• CHR Hansen Holding A/S
• Novozymes A/S
• Amano Enzyme Inc
• Anchor
• Biocon Limited
• Campina
• Genencor International, Inc