SPECIALTY ENZYMES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The processed foods segment has witnessed a significant rise in the market in recent years, owing to changes in the lifestyle patterns of consumers and a strong influence on the consumption of convenience foods. The demand for processed and packaged foods is rising in both developed and developing regions of the world due to factors such as urbanization, a growing middle-class population, an increase in the number of working women, and an increase in disposable income. As a result, there is a greater need for food packaging and processing solutions. Food additives are therefore widely employed in processed and convenience food products to maintain the freshness, safety, taste, appearance, and texture of processed foods. 

The Specialty Enzymes market is projected to witness a CAGR of 7.6% over the next five years.

Enzymes are proteins that exist in the body of all living organisms, including humans, that function as catalysts. On the other hand, enzymes are necessary substances for vital activities and help many of the complex and diverse activities in substance metabolism. Growing consumer health consciousness has increased consumption of functional food products, which is predicted to have a favorable impact on the demand for enzymes over the forecast period. In March 2021, International Flavors & Fragrances Inc. announced the launch of Enovera 3001 enzyme as the newest addition to its ingredients for the bakery industry range. The new enzyme offers a label-friendly formulation for strengthening the bakery dough without compromising on its texture and taste. Over the past 10 years, the demand for enzymes has increased due to the natural flavor and taste of food items as well as unique food products, which has led to market expansion. The product is used for a variety of purposes, including the clarity of fruit juice, brewing germination, making cheese, pre-digesting infant food, and tenderizing meat. Additionally, the imminent population boom, increased food quality, and greater consumer awareness of nutritional requirements are all expected to have a beneficial impact on market growth.

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