The Latin America Food Enzymes Market was worth $0.29 billion in 2022 and estimated to be growing at a CAGR of 7.2%, to reach $0.41 billion by 2028.
Enzymes are present in all living things. They target and speed up certain chemical reactions, in some cases increases the rate of reactions by a million times. They are helpful in digestion and metabolic processes, removal of waste in humans and animals. They also play a vital role in the contraction of muscles.
Enzymes are added to perform certain functions in the processing and manufacturing in food industries. They are used to change the molecular structure of juice so as to extract more juice. Starch is converted into sugar using enzymes in alcohol production. They are also used to lower the energy required for a reaction to occur. Some reactions in human body do not occur without enzymes supporting them. Enzymes are responsible for dissolving blood clots in the body.
Rapid increase in population increased the demand for packaged and processed foods. In addition, increased awareness regarding healthy and quality food and beverage products is driving the growth rate of food enzymes market. Increase in food processing industries in developing countries is propelling the market growth. The side effects on people’s health as resulting from the use of food enzymes and uncertain regulatory guidelines are restraining the market growth.
The food enzymes market is categorized into Carbohydrases, Proteases and Lipases based on the type of enzymes. Carbohydrases hold the largest share in Food Enzymes Market in this category as it acts as a catalyst in the conversion of Carbohydrate to starch. Based on the source of the enzymes, food enzymes market is categorized into Plants, Animals and microorganisms. Based on application of food enzymes, the market is categorized into Beverage, Processed Food, Dairy, Bakery and Confectionery. Bakery products hold the largest market in this category due to the application of food enzymes in bakery products such as increasing stability of dough and uniformity of brown bread etc. Food enzymes are further categorized into Lyophilized powder and liquid forms based on their forms.
Geographically the Latin America Food Enzymes Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. The increase in demand for processed food, confectionary and bakery in developing countries like Brazil and Argentina is driving the growth rate of market. Huge untapped consumer base provides a lot of opportunities for food enzymes market.
Key Players in the Market:
Major Key Players in the Latin America Food Enzymes Market are
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