Global Dairy Enzymes Market Size Predicted to Reach USD 1,029.8 Million by 2027: Polaris Market Research
Dairy enzymes refer to the enzymes that are added to milk for production of various dairy products such as cheese, yoghurt and other milk products. Dairy enzyme has several key functions including, acts as coagulants that are being deployed to make cheese as well as bioprotective enzymes that are used to improve safety and shelf life of dairy products.
According to the research report, The Dairy Enzymes Market size was valued at USD 595.9 Million in 2019 and is anticipated to reach 1,029.8 Million by 2027, to grow at a CAGR of 7.25 % during the forecast period.
Various dairy enzymes such as lipases, proteases, catalase, and lactase have a variety of dairy applications. Rennets or rennin which is a mixture of pepsin and chymosin derived primarily from microbial and animal sources are being deployed in the cheese production process, specifically in its first stage for coagulation of milk. Several kinds of proteases are being deployed to accelerate the ripening of cheese and for the alteration of milk proteins in order to minimize the allergenic characteristics of cow milk-based products primarily developed for infants. Dairy enzymes are also used for modification of the functional properties of milk. Lipase is used for the ripening of cheese in order to develop lipolytic flavours. Also, lactase or galactosidase, EC 22.214.171.124 is used for the hydrolysis of lactose to galactose and glucose that acts as a digestive agent and enhance the sweetness and solubility of several dairy products.
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What Does the Report Include?
- Status of the Dairy Enzymes Market in world view.
- Top companies operating in the market.
- Import-Export policies regarding the products/services in the Dairy Enzymes Market.
- Research and development activities.
- Major research agenda in industry segments.
- Segmentation according to application, type, and geography.
- Comparative study of the domestic and international prices of the products and services and related price fluctuations.
- Worldwide Dairy Enzymes Market’s driving forces and roadblocks
Some of the key factors driving the market growth include, rising consumption of dairy products, increasing demand for lactose-free and low-lactose based dairy products and several environmental benefits related to enzymes. According to news published in economic times in May 2020, the consumption of dairy products has increased in India during the COVID-19 lockdown period driven by rising preference for highly nutritious and healthy vegetarian food. The Gujarat Cooperative Milk Marketing Federation (GCMMF) has reported approximately 20% to 25% higher sales of dairy products such as cheese, ghee and butter in April 2020 which is higher as compared to their average sales registered every month.
According to the International Farm Comparison Network (IFCN) April 2020 report, the dairy sector worldwide is expected to continue to flourish and presently serving more than 7 billion consumers. By 2040, the milk demand and supply would not remain in balance and thus, leading to a slight deficit in availability of milk to consumers, amounting to nearly 12 million tons. The deficit in availability of milk is expected to support the global milk price which is expected to increase while triggering further production of milk that would outbalance demand.
Market participants such as CHR. Hansen, Dow, DSM, Kerry Group, Novozymes, Advanced Enzymes Technologies, Amano Enzyme, Connell Bros., Biocatalysts, SternEnzym, Enmex, and Fytozimus Biotech are some of the key players operating in the global market.
Players in the market have primarily adopted product launch strategy to solidify their position in the global market. For instance, in May 2020, DuPont Nutrition & Biosciences introduced its novel bonlacta enzyme for the North American lactose-free dairy market. This product has enabled the much-required cost reduction and process optimization to allow for the production of a variety of lactose-free dairy products that too at high competitive prices. Further, in March 2020, Novozymes has launched its Saphera Fiber product, which is a novel lactase enzyme used to boost fiber content while also reducing sugar in both non-fermented and fermented dairy products.
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Impact of COVID-19 on this Market:
The pandemic of COVID-19 continues to expand and impact over 175 countries and territories across the globe. Although the outbreak appears to have slowed down, the impact of COVID-19 has already been witnessed by all the regions globally. The pandemic could influence the key aspects of the global economy such as production and supply chain along with financial markets.
We, at Polaris Market Research, better understand the impact of economic and other factors on various sectors and markets. Using our advanced research methodology, we are determined to aid your business sustain, stabilizing, and growing during the COVID-19 pandemic. With deep expertise across various industries-no matter how large or small- and with a team of highly experienced and dedicated analysts Polaris Market Research will provide you key insights about coronavirus outbreaks across different industries to guide you prepare for the future.
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