Pune, India, January 22, 2018/MRFR Press Release- Market Research Future published a half cooked research report on the global proteases market, which is estimated to grow at a CAGR of 6.3% during the forecast period, 2017-2023.
The increasing demand of bakery, dairy, and meat products from the food and beverage industry which includes products such as bread, meat, snacks, yogurt, juices, and many others has surged the demand of proteases at a global level. Proteases are an important ingredient used in most of the food & beverage products. Availability of proteases in various forms has influenced the demand for proteases in various food preparations. Proteases are majorly used to convert the raw material into the main product, or used as additives to alter the functional characteristics of the product. Increasing demand for convenience food is one of the major factors contributing to the growth of the global proteases market.
The global proteases market share in the foods and beverages industry is escalated by the rising demand for dairy and bakery products in the developed countries. These enzymes are used in the production of various food & beverage products for the break-down of proteins. Furthermore, advance processing methods & technologies, and high opportunities in the developing countries are positively supporting the growth of the global proteases market
Proteases are found to have wide application in bakery and dairy industry, amongst which the application in the bread and cheese production is increasing at a higher rate. Moreover, protease enzymes add additional nutritional value and flavor to the fermented products, which is supporting the growth of global proteases market. However, instability of proteases at fluctuating temperature may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.3% of the proteases market during the forecast period 2017-2023.
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The global proteases market is segmented into type, form, and application.
On the basis of the type, it is segmented into trypsin, renin, pepsin, bromelain, papain, alkaline protease, and others. Among all, the renin segment is dominating the market.
On the basis of the form, it is segmented into liquid, powder, and others. Among all, the powder segment holds the major market share.
On the basis of the application, it is segmented into bakery & confectionery, beverages, sweet & savory snacks, dairy & frozen desserts, animal feed, and others. Among all, the bakery & confectionery segment is dominating the market.
The major players in the proteases market
The global proteases market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the proteases market followed by Europe. Increased demand for bakery, juices, and dairy products in the developed countries of these regions has uplifted the proteases market. The U.S., Germany, and the Netherlands are the major importers of proteases. Additionally, the major key players are actively involved in the research & developments of the product for enhanced functionality & a wide range of product applicability.
Moreover, increasing demand for beverages and dairy products is also supporting the growth of proteases market in the Asia Pacific region including countries such as India and China.
Proteases market is segmented on the basis of type, form, application, and region.