China Food Enzymes Market - Growth, Trends, and Forecasts (2022 - 27)

China Food Enzymes Market - Growth, Trends, and Forecasts (2022 - 27)

The Chinese food enzymes market is expected to register a CAGR of 5.6% during the forecast period (2022 - 2027).

COVID-19 has wreaked havoc on various industries, including the manufacturing and supply chain sector of the enzymes market. However, due to an increased demand for various products like baked food and dairy products, among others, the lockdown led the market to keep growing without any downfall. For Instance, the demand for rennet in China increased by 6.4% from 2019-2020.

The shift in the trend toward healthy food products, coupled with higher productivity, is expected to augment the growth of the food enzymes market in the country. The increasing per capita income, coupled with product penetration, is anticipated to positively impact food enzyme demand, thereby augmenting the market growth.

New food enzyme applications in the markets, such as protein fortification, are expected to prompt the growth of the food enzyme market and create lucrative opportunities for industry participants. Moreover, technological innovation and upgradation are expected to drive market growth over the forecast period.

Key Market TrendsGrowing Popularity of Specialty Ingredients

Specialty ingredients are the most important products which guarantee the shelf life of the vast range of processed foods. They range from a wide variety of macro ingredients, such as fibers, carbohydrates, fats, and specific proteins, to other micro-ingredients, including minerals, vitamins, and enzymes. They typically perform various functional activities to enhance the quality and taste of the products. The health-related, nutritional, and technological functions of these products make the diet pleasant for consumption, tasty, safe, healthy, and even affordable. Manufacturers are focusing on providing all-natural specialty ingredients that increase the shelf-life of the product and enable them to label their products as "100% all-natural", addressing consumer demand for "clean labels." Further, as a result of the increasing use of protease in sports nutrition and supplements, producers are offering a variety of protease-derived supplements. Following the demand for protease-derived goods, the National Health Commission of the People's Republic of China (NHC) approved ten new food additives in 2021, including three new enzymes (Protease Alpha-amylase and Lactase).

Rising Utilization in Baking Applications

The key drivers of growth of the baking enzymes market include the declining use of emulsifiers, uncovering health and nutritional value,s and high disposable income among consumers. Bakers are increasingly using enzymes to improve the softness, moistness, and shelf life of their products. The adoption of bakery enzymes for bread accounts for a relatively high revenue share. Moreover, their growing applications in cakes and pastries are opening a wide window of opportunities for market players. Nowadays, consumers increasingly embrace convenient foods, like bread. Thus, realizing the challenges in fulfilling all consumer needs, from improving texture to longer-lasting freshness, the market players are directing their investments toward product innovation.

Competitive Landscape

The Chinese food enzymes market is fragmented, with a large number of players involved in the market. The active companies are involved in new product developments, expansions, mergers and acquisitions, and partnerships, in order to sustain the market competition. The key players in the market are Kerry Group, Novozymes, Koninklijke DSM NV, Chr. Hansen Holding A/S, and Amano Enzymes Inc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.