The increasing demand of dairy products in the food and beverage industry such as ice-cream, yoghurt, and kefir is raising the demand of dairy enzymes at a global level. Availability of dairy enzymes in various forms has influenced the increasing demand of dairy enzymes in various dairy products. Improved processing technologies are also playing the key role in the rising sales of dairy products from last few years. Rising health concerns is one of the major factors contributing to the growth of the global dairy enzymes market.
Market Forecast
The global dairy enzymes market share in the foods and beverages industry is escalated by the rising demand for dairy products in the developed countries. Dairy enzymes are found to have wide application in dairy industry, amongst which the application in the cheese production, and dairy beverages is increasing at a higher rate.
Increasing consumption of yogurt among the young consumers is a primary driving factor for the growth of dairy enzymes market. Dairy enzymes add additional nutritional value and flavour to fermented products including yogurts. Consumption of dairy products is increasing globally and consumer preferences are changing from ice-creams to yogurts and speciality cheese.
However, dairy enzymes have been facing many challenges due to the changing preference for vegan alternatives such as plant dairy enzymes. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has boosted the share of the dairy enzymes in the global market. The global dairy enzymes market is expected to grow at a CAGR of 8.5% during the forecast period 2017-2023.
Downstream analysis
The global dairy enzymes market is segmented into type and application.
On the basis of the type, it is segmented into lactase, rennet, lipases, catalase, proteinases, peptidases, and others. Among all, the rennet enzyme segment is dominating the market followed by the lactase due to its high use in cheese production.
On the basis of the application, the dairy enzymes market is segmented into kefir, yogurt, cheese, sour cream, and others. The kefir segment is dominating the market due to increasing demand for functional beverages.
Competitive analysis
The major players in the dairy enzymes market
Danisco A/S (Denmark)
Chr Hansen Holding A/S (U.S.)
DSM Food Specialties B.V. (the Netherlands)
Novozymes A/S (Denmark)
Biocon Limited (India)
Genencor International, Inc. (U.S.)
Amano Enzyme Inc. (Japan)
Campina (the Netherlands)
Anchor (New Zealand)
Fonterra Co-op Group Ltd. (New Zealand)
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