India Food Enzymes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

India Food Enzymes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Indian food enzymes market is projected to register a CAGR of 3.8% during the forecast period (2020 - 2025).

Key Highlights

• The market is witnessing rapid growth due to the increasing demand for processed food in the country and wide applications of the enzymes in the processed food industry. Moreover, innovation in food technology in the country and the increasing awareness about better-quality products, being manufactured by utilizing enzymes, are further driving the market. For instance, DSM has launched a new range of baking enzymes, specifically formulated for gluten-free applications, which improve the softness and moistness of bread. These enzymes are also used in further applications, such as corn tortillas, rye bread, and spelt bread.
• However, the restricted range of optimal temperature and pH levels, and rigid regulatory policies by the standard systems, such as FSANZ (Food Standards Australia and New Zealand) for the approval and utilization of enzymes for consumption is restraining the growth of the domestic market.

Key Market TrendsRising Demand for Processed Food

The processed foods segment has witnessed a significant rise in its market in recent years, owing to the change in lifestyle patterns of consumers and a strong influence on the consumption of convenience foods. Moreover, consumers are demanding healthy food products, along with a variety of tastes. Thus, several processed foods, which are rich in fiber, protein, and calcium, are considered suitable for diabetic people and are being marketed by the key players to attract more consumers. Functional properties, such as gluten-free, cholesterol-free, GMO-free, and low-sodium, are attributes of these products. For instance, DSM’s Maxilact® targets the reduction in sugar level in dairy products, such as flavored milk and sugared yogurts, by up to 20%, along with a clean, fresh taste and no off-flavors. Hence, the processed food demand growth, owing to food retail chains’ growth and convenience, has invariably helped the increase in demand for enzyme application.

Acquisitive Demand for Enzymes in the Bakery Industry

The bakery segment has the highest enzyme application in the country, and its market is projected to grow in the forecast period. Also, in recent years, enzymes have assumed an even significant role in baking, due to the restrictions on the use of chemical additives, especially in the manufacture of bread and other fermented products. Furthermore, focus on the bakery enzyme for gluten-free products is the key area of the company's new product developments. Also, food enzyme manufacturers are expecting an increased demand from food manufacturers to preserve the freshness, safety, taste, appearance, and texture of processed foods. Enzymes, such as asparaginase, help in reducing toxic acrylamide content in bakery products, while some enzymes act as anti-staling agents in bread and cakes and increase the shelf life of the product. Hence, the increase in demand for bakery products has consistently helped the rise in demand for enzyme applications.

Competitive Landscape

The Indian food enzymes market is competitive in nature, with a large number of domestic and multinational players competing for market share. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development, as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Key players dominating the country's market include DSM, Novozymes, and Advanced Enzyme Technologies, among others.

Additional Benefits:

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

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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