In the world of dairy enzymes, which are substances that help process dairy products, North America is currently the leader. Experts predict that by 2023, this region will reach a value of USD 307.4 million in the dairy enzymes market, growing at a rate of 7.50%. This means that North America is currently using and needing a lot of these enzymes, but other regions are also catching up. One of these regions is Asia Pacific, which is becoming an attractive market for dairy enzymes. It is expected to grow at a rate of 8.05%, holding a market share of 20.2% in 2018.
Globally, the dairy enzymes market is on the rise and is estimated to have a growth rate of 7.44%, reaching a whopping USD 829.6 million by 2023. Within the types of dairy enzymes, proteases are expected to have the biggest market share, reaching around USD 568.5 million by 2023, growing at a rate of 7.78%. However, another type, lipases, is projected to grow significantly faster at a rate of 7.09% during the period from 2018 to 2023.
To break it down, North America is currently the leader in using dairy enzymes, but Asia Pacific is quickly catching up. The global market for these enzymes is growing, and proteases are currently the most used type, while lipases are growing at a fast rate. This tells us that the need for these enzymes is increasing not only in traditional markets but also in regions that are rapidly adopting these technologies.
Dairy Enzymes Report Scope
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Report Attribute/Metric
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Details
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Market Size 2022
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USD 0.55 Billion
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Market Size 2023
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USD 0.58 Billion
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Market Size 2032
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USD 0.98 Billion
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Compound Annual Growth Rate (CAGR)
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6.70% (2023-2032)
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Base Year
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2022
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Market Forecast Period
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2023-2032
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Historical Data
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2018- 2022
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Market Forecast Units
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Value (USD Billion)
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Report Coverage
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Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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Product, Source, Applications and Region
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Geographies Covered
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North America, Europe, Asia Pacific, and the Rest of the World
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Countries Covered
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The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
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Key Companies Profiled
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DowDuPont, Kerry Group, DSM, Chr. Hansen, Novozymes, Advanced Enzymes Technologies, Amano Enzymes, Fytozimus Biotech, Enmex. SternEnzym, Biocatalysts and Connell Bros
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Key Market Opportunities
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Growing concerns about digestive health
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Key Market Dynamics
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The high prevalence of gastrointestinal disorders
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Frequently Asked Questions (FAQ) :
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