The phospholipase enzyme market is estimated to be US$ 224 Bn in the year 2021 and is expected to grow at a Compound annual growth rate (CAGR) of 6.15% that would take the value of the Phospholipase enzyme market to US$ 432 Bn for the forecast period of 2022 to 2032.
Due to the increase in the demand for good quality convenient food like ready to eat or ready to cook due to dynamic and healthy lifestyle, higher shelf life, natural and healthy option for preservatives is likely to drive the phospholipase market. With the beneficial properties and advancement in technology, the phospholipase enzyme is expected to cause a revolution in the medicine and pharmaceutical industry.
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Cheese is a popular food item all across the world. However, with increasing health-awareness among consumers, the preference for low-fat cheese is growing. Thus, manufacturers are looking for appropriate ingredients that will help them develop low-fat cheese. Phospholipase enzyme is a suitable option as it reduces the phospholipid content and enables the formation of low-fat cheese.
Also, the increasing per capita consumption of cheese makes it necessary for the manufacturers to increase the yield and quality of cheese to fulfill the requirements of the consumers. Thus, the demand for phospholipase is estimated to increase as it helps in the hydrolysis of phospholipids and improves the yield of cheese. It also aids in reducing the environmental impact of cheese production.
Increasing Applications in Bakery and Vegetable Oil Processing Boosting the Phospholipase Enzyme Market Growth
Various advantages offered by phospholipase enzyme are increasing its demand in the food and beverages industry. Phospholipase enzyme is used in the preparation of cheese as it improves yield and enhances flavour. It is also used in various bakery products to improve their shelf life, maintain moisture, and enhance the texture. The increasing demand for convenience and the healthy snacking trend are anticipated to increase the demand for bakery products, which is further estimated to have a positive impact on the phospholipase enzyme market.
The demand for vegetable oil is expected to rise due to the increasing population all across the world, which serves as one of the major drivers for the growth of the phospholipase enzyme market. Phospholipase enzyme is used in vegetable oil processing.
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Enzymatic degumming is a trending process used to obtain high-quality vegetable oil. Phospholipase enzyme is used for the degumming of vegetable oil, as it hydrolyzes the phospholipids present in the oil and helps to obtain good quality vegetable oil without the use of chemical degumming method. The use of phospholipase enzyme enables the manufacturers to develop low-fat vegetable oil and attract health-conscious customers. This, further increases its applications in various industries. Thus, the demand for phospholipase enzyme is estimated to increase.
Increasing Preference as a ‘Nutritional Value Preservative’ in Processed Foods Driving Revenues
Since the last few years, concerns about health and environment are rising among consumers. People are opting for natural products that do not cause any harm to health as well as the environment. Using chemical processing methods not only harms the environment, but also degrades the nutritional value of the product. Thus, the use of enzymes serves as an excellent option for the processing of the products. Also, end-use industries majorly focus on providing innovative products that are aligned with consumer requirements. It becomes necessary to maintain the nutritional value, as well as quality of the products to attract consumers. Thus, phospholipase enzyme is a suitable option, which helps to preserve the nutritional content and improves the quality of the finished product.
The demand for phospholipase enzyme is anticipated to increase in North America and Europe regions. The trend of clean-label and organic products is estimated to drive the growth of the phospholipase enzyme market in these regions. The phospholipase enzyme market is expected to grow at a medium pace in South Asia and East Asia regions. The rapidly growing population, increasing industrialization, and urbanization are some of the factors that are estimated to propel the phospholipase enzyme market growth in South Asia and East Asia regions.
Manufacturers of food and beverages, nutraceuticals, household care, and cosmetics are trying to establish themselves in emerging economies such as India and China, due to high population, availability of large labour pool, and economic feasibility. This further creates an opportunity for the manufacturers of phospholipase enzyme to improve their marketing strategies and increase their sales in South Asia and East Asia regions.
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Segmentation Covered in Phospholipase Market Analysis
Based on product type:
- phospholipase A1
- phospholipase A2
- phospholipase D
- phospholipase B
- phospholipase C
Based on source:
- animal
- microbial
- botanical
- Data Mining
Based on Region:
- The Middle East and Africa
- Latin America
- South Asia
- Europe
- East Asia
- North America
- Oceania
Key Questions Answered in the Report
- How much is the Phospholipase Enzyme consumer market currently worth?
- At what CAGR is the market expected to grow?
- How was the performance in the last five years?
- What are the key trends boosting Phospholipase Enzyme sales?
- How are market players reacting to the new developments in the market?
- How much share do the top 5 companies hold?
- Which are the major countries driving demand for Phospholipase Enzyme?
- Who are the major players in the Phospholipase Enzyme consumer Market?
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