Based on research by Future Market Insights, the global industrial tannase market. is anticipated to grow at a compound annual growth rate (CAGR) of 5.3% over the estimated period. According to projections, the market value will rise from US$ 363.2 million in 2022 to US$ 608.2 million in 2032. From 2017 to 2021, the Industrial Tannase Market is expected to develop at a compound annual growth rate (CAGR) of 5%, with a market value of US$ 345.6 at the end of 2021.
Increased population growth and awareness for improved quality of food is expected to create enormous market potential over the forecast period for tannase market. Changing lifestyles of the consumer and increase in their disposable income has resulted in the increase in the demand for consumer goods which has in turn resulted in the growth of tannase enzymes market. These aspects are anticipated to provide prospects for evolving market players in global tannase enzymes market.
Industrial enzymes are gaining importance due to the increase in their applications and increase in demand for consumer foods, investment in the research and development of enzymes and also the need for resource optimization and cost reduction are driving the market for enzymes ultimately the global tannase enzyme market.
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Increasing consumption of products containing enzyme in developing regions is driving the market for tannase enzymes. The growth in food industry, increase in demand for packed instant make food items in developed regions is driving the market for tannese enzyme market. Tannese in used in instant tea to increase the extractability and cold water solubility of tea, also in fruit juice to decrease its bitterness and to increase its shelf life.
Globally demand for such products is very high as a result it is anticipated to drive the global tannase market. The use of natural preservatives and enzymes such as tannase instead of chemicals is becoming popular in food and beverage industry.
Growing medical industry and research methods requires the use of tannase enzyme to make anti-bacterial and anti-oxidant drugs this is expected to contribute for the growth of tannase market. Lack of transparency in protection laws and different regulatory structures are the some of the major restraints for global tannase market.
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In terms of geography, the global tannase market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa.The global tannase market is expected to register healthy CAGR during the forecast period.
North America is anticipated to be the dominant market for global tannase market followed by Asia Pacific and Europe. Increasing government initiatives and FDI in countries like India will propel the global tannase market over the forecast period. The market in Asia-Pacific region is expected to grow at highest CAGR over the forecast period.
Key Players
Some of the key players in the global tannase market are DSM N.V, Novozymes etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections done using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type, machine size and end use.
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The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and geographies.
Tannase Market
Based on the end use industrial application type the global tannase market is segmented into:
- Tea
- Wine and Beer
- Fruit Juice
- Animal Feed
- others
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