Dairy Enzymes Market Expected to Achieve USD 1.813 Billion by 2033

The dairy enzymes market size is projected to be valued at US$ 877.5 million in 2023 and is expected to rise to US$ 1,812.8 million by 2033. The sales of dairy enzymes are expected to grow at a significant CAGR of 7.4% during the forecast period.

Westernization, growing urbanization, rising demand for lactose-free dairy products among developing-economy consumers, and surging lactose intolerance among the population are some of the market growth determinants.

Unlock Growth Potential in Your Industry: https://www.futuremarketinsights.com/reports/sample/rep-gb-12775

Rising availability and popularity of various types of flavored dairy products, improved distribution channels, high degree of investment into the market combined with a changing consumer tastes and preferences is likely to spur market’s growth.

However, the negative health effects associated with high consumption, such as allergic reactions can possibly pose a significant challenge to the market’s growth.

Consumers’ progressive inclination towards digestive wellness products has experienced a drastic shift in the decade, and probiotic food products have remained a requisite.

• According to the ITC Trade Map, the imported volume of yoghurt in the United Kingdom in 2021 is expected to be around 282980 tons, up from 219085 tons in 2019.

The increased number of fast-food chains and food and beverage MNCs, the high youth population and the introduction of improved methods of producing inexpensive rennet are all driving market growth.

Recent advancements in food enzyme discovery technology, such as extracting microbial sources for the dairy market, are expected to spur business growth.

Key Takeaways from the Dairy Enzymes Market

• According to FMI’s projections, North America is going to be a significant revenue contributor to the global dairy enzymes market through 2033, growing at a value CAGR of around 7.0% due to factors such as an increasing number of people suffering from lactose intolerance and an increase in digestive disorders, the region presents enormous opportunities for market participants.
• When compared to other sources of dairy enzymes, the animal & microorganism segment is estimated to account for the major share. FMI forecasts a 55.23% market share for this segment over the forecast period because of the simpler extraction process.  Furthermore, conducting R&D on microorganisms is easier and more affordable than using plant-sourced dairy enzymes.
• Japan is a center of research and development for a variety of food enzymes, including dairy enzymes. The revenue is expected to rise soon. During the forecasted period, it is expected to contribute nearly 3.3% CAGR.
• By 2030, the dairy enzymes market from the whey protein application segment is expected to be worth more than $100 million. Dairy enzymes, such as protease, primarily work to cleave the peptide bonds of various proteins, resulting in smaller, more easily digestible pieces that propels whey protein uptake, resulting in a significant increase in demand for dairy enzymes.

Competitive Landscape

SternEnzym, Novozymes, Kerry Group, DSM, Dow DuPont, Danisco A/S, Biocatalysts, Amano Enzyme, Advanced Enzymes Technologies, and CHR. Hansen are prominent players in this sector. In September 2021, Novozymes launched five powerful biological solutions to address key challenges for North American farmers seeking to improve yield and fertility while increasing biocontrol application.

Latest Developments

• Nurica, a dairy enzyme that naturally harnesses the lactose present in milk in the United States, was launched in June 2021 by International Flavors & Fragrances, Inc. The enzyme aids in the natural production of a higher yield of prebiotic galacto-oligosaccharides (GOS) fibres, which aid in the management of lactose intolerance and the optimization of fibre intake.
• Biocatalysts Ltd. announced the release of a new dairy enzyme, PromodTM 517MDP (P517MDP), in April 2021, in order to expand its Kosher and Halal certified dairy protein enzymes.
• International Flavors & Fragrances, Inc. announced the launch of Enovera 3001 enzyme as the newest addition to its bakery industry ingredients range in March 2021. The new enzyme provides a label-friendly formulation for strengthening bakery dough without sacrificing texture or taste.