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

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

Spain food enzymes market is projected to grow at a CAGR of 3.1% during the forecast period (2020 - 2025).

Key Highlights

• The Spanish food industry is an import-oriented industry. It relies on imported ingredients, majorly from the United States. The diversity of food products in the market is increasing, as there is a growth in the tourism industry in the country, thus catering to the market studied.
• Enzymes have become an important area of biotechnology, the use of enzymes has expanded rapidly into a variety of food applications owing to their effectiveness, accuracy, and possibility of replacing additives.
• The key restrains the market faces is in terms of the unclear regulatory process and high research and development costs.

Key Market TrendsHealthy Food Consumption Drives the Market

In Spain, the demand for healthy eating is increasing at a faster pace, owing to consumer preferences towards a healthy lifestyle for the country is considered one of the most healthy countries in the world. With the growing trend towards sustaining youth, fitness, and health, consumers are increasingly buying healthy and functional foods, leading to the growth of the market. The players of the market study are investing a significant amount to produce new healthy ingredients, including food enzymes. For instance, Spanish player Fitoplancton Marino became the first company to introduce microalgae enzyme TetraSOD® for aging and sports nutrition. Moreover, the demand for healthy food provides the player with a growth opportunity, thus, the Spain market is projected to boost in the forecast period.

Beverage Application Dominates the Market

Sourced from manly microorganisms and plants, specialty enzymes are used in various foods and beverages, especially in brewing, crafting alcohol, etc. All of the main enzymes such as amylases, proteases, glucanase, and cellulase are crucial for the beer production process. The role of α-and β-amylase is vital in the process of malting and mashing of barley. Also, it has a significant role in increasing the sugar yield for fermentation. The Spanish Brewing market is dominated by the domestic players and they hold over two-third share in the Spanish Beer Market. Thus, owing to the benefits of enzymes and the demand for locally-produced beer, the demand for the food enzymes is high in the brewing industry in the country, which is expected to drive the market in the near future.

Competitive Landscape

The market studied is competitive owing to the presence of several global players trying hard to maintain their position in the Spain food enzymes market. The players are adopting strategies such as product innovation and mergers and acquisitions. The market sees growth opportunities in the country as food enzymes reduce water, energy, and wastage costs and thus, aiding in the convenient processing of the food products.

Additional Benefits:

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

Companies Mentioned

Kerry Group plc
Novozymes Group
Koninklijke DSM N.V.
Chr. Hansen Holding GmbH
BASF SE
CYGYC BIOCON, S.L.

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