Papain Market size is forecast to reach $ 378.7 million, growing at a CAGR of 5.9% during the forecast period 2022-2030.
The papain market is anticipated to reach $378.7 million, expanding at a CAGR of 5.9% from 2022 to 2030. Papain is a natural cysteine proteolytic enzyme. This is mostly found in mountain papaya (VASCONCELLEA) and papaya (CARICA papaya), thus it is also named papaya proteinase. Latin America is the native place to papain. Its wide application is in the meat industry to tenderize the meat fibers. Apart, it is also used in the food & beverages industry, textile, and leather industry and it is mostly found in powder form for meat tenderizes and is having high demand in the market.
Owing to its health benefits, naturally derived proteolytic enzymes like papain is gaining an increase in the papain market compared to the chemically derived proteolytic enzyme. Apart, papain is also used in pharmaceuticals application as chemo-mechanical dental caries removal gel named Papacarie. This papacarie is used in various ways as tooth whitener in mint sweets and toothpaste, as a component of many enzymatic debriding preparations, cell dissociation in cell culture preparations, and to clean the dead tissue in chronic wounds. Some of the applications of papain are cosmetic, detergent, food & beverage, leather, tanning, optical, textile, photographic, and pharmaceutical. In the U.S, papain is approved as a natural therapy for wounds, skin infections, and skin ulcers by the ‘2010 animal study’ of the NCBI (National Center for Biotechnology Information). The NCBI also states that papain product is safe and effective for treating several injuries in different healing stages.
COVID-19 Analysis of Papain Market
The COVID-19 outbreak drastically impacted the various business sectors, manufacturing industries like automobile, food & beverages, semiconductor & devices, agriculture, electrical & electronics, and many more. Due to the lockdown, the food & beverages companies face a dramatically short of labor, a lack of raw materials, supply chain instability, and reduced usage which leads to reduced production by manufacturers.
Food & beverages and pharmaceuticals sectors are two primarily consumed sectors by the papain. Due to the stoppage of production and supply chain of food & beverages and pharmaceuticals, the demand for the papain declines. Moreover, the manufacturing industries of textile & detergent, personal care & cosmetics are completely closed due to the lockdown. Apart, animal feed industries are also reducing their production which leads to a decline in the papain market.
The growing population, increasing domestic income, and urbanization that leads to starting the market for the production of the natural enzyme such as papain and hence accelerates the growth of the market. The need for soft-textured meat products for use is increased which is estimated to boost the market demand for papain in the coming years. Mostly papain is used in the liquid or powdered form in the meat industry.
Growing health awareness among consumers regarding natural products may positively impact natural proteolytic enzymes like papain. Based on its diverse and potential application in the food industry, the global papain market is expected to increase with a significant CAGR during the review period. Moreover, the papain in the pharmaceutical application is boosting the market growth due to the medicinal properties of papain in treating parasitic worms, runny nose, diarrhea, shingles symptoms, inflammation of the throat and pharynx, hay fever, psoriasis, etc. Apart, papain is also used for preparing remedies for various diseases like indigestion, fever, ulcers, and swelling.
The processing of papains requires high initial investments which are hampering the growth of the global market.
Worldwide, in the papain industry, mergers and acquisitions between the two papain growers and papaya suppliers are the trends now following. The advanced technologies in the production of papain increase the production of papain which create an opportunity to escalate the growth of the papain market.
The availability of cheap and easily available substitutes like artificial enzymes is challenging the global papain powder market growth.
The papain market has been divided into segments based on form, application, distribution channel, and region.
Based on Form
Based on the form, the global papain market is classified into few types such as liquid, capsule, powder, and others. Due to the processing cost lesser and wide product are available, the powder segment is holding the largest market share.
Based on Application
By application, the papain market is bifurcated into various types such as textile, food & beverage, pharmaceuticals, cosmetic & others. Out of these applications, the food & beverage (meat industry) segment is accounting for the largest papain industry share due to its easy availability. Thus, it increases the papain industry for the naturally derived proteolytic enzyme like papain for the meat tenderization process in meat products.
Based on Distribution Channel
The global papain market based on distribution channel is categorized into two types as store-based and non-store-based. Store-based includes hypermarkets/ supermarkets, convenience stores, specialty retailers, and others, and non-store-based includes e-commerce. Store-based channels dominate the papain industry for selling the products. This is very convenient for a one-stop shopping experience that displays all the products, offers discounts and festival offers, etc advantages over the non-store-based channels.
Based on Region
Regionally, the global papain market is divided into four main geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. Among these regions, North America is expected to dominate the market in the forecast period due to its growing consumer awareness and population shift to natural products usage.
The papain market based on regions is geographically analyzed into four regions like Europe, North America, Asia-Pacific, and the Rest of the World. Out of these regions, North America is predicted to hold the highest share in the review period for its rising consumer awareness and changing its usage to natural products. The usage of this natural product leads to the increasing growth of natural proteolytic enzymes like papain in this region.
Moreover, the Asia-Pacific region is expected to witness significant growth in the global papain market during the assessment period due to the robust growth of the pharmaceuticals industry as the population is increasing in emerging countries like India and China in this region. The U.S, Germany, Denmark, Japan, and France are the major importers of the global market. Latin America and Middle East & Africa are projected to have higher positive growth in the forecast period due to the rapid rate of industrial growth and high demand for meat products.
The prominent key players in the papain market outlook are the following:
In September 2020, a popular enterpriser Fenchem started a series of enzyme products for the coming FI Asia Indo, Fenlyase TM to serve the food processing industry. This series includes lipase, papain, and transglutaminase for satisfying the increasing demands and growing attention within the food processing industry.
This global papain market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the papain market drivers, restraints, challenges, and opportunities. The global market forecast segments are form, application, distribution channel, and region.
The papain market trends have been segmented globally based on the form, application, distribution channel, and region.
Liquid, capsule, powder, and others.
Textile, food & beverage, pharmaceuticals, cosmetics & others.
By Distribution Channel
Store-based and non-store-based.
Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the papain market.
|Market Size||USD 378.7 million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Form, Application, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Senthil Papain and Food Products Pvt. Ltd (India),Fruzyme Bio-Tech India Pvt Ltd (India),Shri Ganesh Industrial Enzymes (India),Aumgene Biosciences (India),Enzybel International (Belgium),Mitsubishi Kagaku Media (Japan),Ultra Bio-Logics Inc. (Canada)|
|Key Market Opportunities||advanced technologies in the production of papain|
|Key Market Drivers||
Papain is a naturally extracted cysteine proteolytic enzyme, mostly found in papaya. It is also known as papaya proteinase. Papain is widely used in meat industry to tenderize meat.
Key players in the papain market include Senthil Papain and Food Products Pvt. Ltd., Shri Ganesh Industrial Enzymes, and Enzybel International, among others.
The growing demand for tenderized meats is likely to be a major driver for the papain market.
North America is likely to remain the leading regional market for papain over the forecast period.
The growing demand for tenderized meats is likely to be a major driver for the papain market.