Global Phospholipase Enzyme Market Projected To Grow With A CAGR Of 7.0 % By Value From 2018 To 2026
According to the latest report published by Credence Research, Inc. “Global Phospholipase Enzyme Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Phospholipase Enzyme market accounted for US$ 255.7 Mn in 2017, expanding at a CAGR of 7.0% from 2018 to 2026.
Browse the full report at https://www.credenceresearch.com/report/phospholipase-enzyme-market
The global phospholipase enzyme accounted for US$ 255.7 Mn in 2017 growing with a CAGR of 7.0% during the forecast period from 2018 to 2026. A phospholipase is an enzyme which basically hydrolyzes various phospholipids into fatty acids and other lipophilic substances. As compared to traditional methods of manufacturing, use of various enzymes that includes protease enzymes, phospholipase enzymes and lipase enzymes aims to deliver better end products in various end user industries that includes food & beverages and pharmaceuticals among others.
Growing application of phospholipase enzymes in bakery products and egg yolk products makes them a key ingredient in various manufacturing processes. Hence increasing applications in food and beverages industry is expected to propel the demand for phospholipase enzymes. Trend shows that consumers are becoming more concerned about the nature and quality of various food products followed by reading the ingredients labels on products. Hence increasing consumer awareness related to health and well-being is also projected to augment the market demand. Increasing demand for microbial enzymes is another factor expected to accelerate the market growth. Microbial enzymes are cost effective and are of superior quality compared to animal derivatives. In addition, they also have less environmental impact. The various health benefits associated with phospholipase enzymes has resulted in shift in consumer demand towards quality products. Growing application in pharmaceuticals industry is also expected to drive the global market. In addition, rising applications of bio fuels in existing fuel management systems is also projected to drive the demand for various biocatalysts that includes phospholipase enzymes. All these factors are expected to drive the demand for phospholipase enzyme market during the forecast period from 2018 to 2026.
The global phospholipase enzyme market segmented by product type, source, application, form and geography. In 2017, Phospholipase A2 (PLA2) held major share of the global phospholipase enzyme market by product type. Growing application in various aqueous food products such as sauces, bakery products and dressings is expected to augment the market growth of this segment. In addition, increasing application in pharmaceuticals industry is also expected to propel the demand for this segment in the global phospholipase enzyme market. In terms of source, microbial segment is expected to grow at a fastest rate during the forecast period from 2018 to 2026. Food and beverages is expected to held the largest share in the global phospholipase enzyme market by application in 2017. Increasing application in dairy, bakery, flavors and emulsifiers is expected to augment the market demand for food & beverages segment. In 2017, liquid segment by form dominated the global market and powder segment is expected to grow at a significant rate. In terms of geography, North America is the most significant market and held the largest market value share in the global phospholipase enzyme market. Growing application of phospholipase enzyme in food & beverages especially in baked goods and dairy products is expected to spur the demand in North America region.
Key players operating in the global phospholipase enzyme market includes Bioseutica B.V., Enzo Life Sciences Inc, EUCODIS Bioscience GmbH, Sanyo Fine Co. Ltd., Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen Holding A/S, AB Enzymes GmbH, DowDuPont Inc., Genetrix Ingredients, Aumgene Biosciences and Nagase America Corporation among others.