Market Size of Australia Food Enzymes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.80 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia Food Enzymes Market Analysis
The Australian food enzymes market is projected to register a CAGR of 6.8% during the forecast period (2020-2025).
- The key factors driving the market studied include innovations in food technology in the country and the growing awareness about the betterment of product quality when enzymes are used. PH levels highly affect the enzymes. For example, extremely high or low pH values may result in a complete loss of activity for most enzymes. The optimum pH level varies greatly from one enzyme to another and the location where the enzyme is working, thus, resulting in the failure of producing the desired product.
- One of the major drivers of the market studied is the use of food enzymes for fermentation, as the food and beverage industry offers a variety of fermented foods, such as yogurt, tempeh, bread, and beverages (such as alcoholic drinks).
- The genetically modified enzymes are usually associated with long-term health effects, which resulted in a setback for the growth of the industry. However, as the food safety authorities are issuing standards for enzyme consumption, the consumers have started accepting the products treated with GM enzymes.
Australia Food Enzymes Industry Segmentation
The Australian food enzymes market is segmented by application into bakery, beverage, dairy and frozen desserts, meat, poultry, and seafood products, and other applications.
| By Application | |
| Bakery | |
| Beverage | |
| Dairy and Frozen Desserts | |
| Meat, Poultry, and Seafood Products | |
| Other Applications |
Australia Food Enzymes Market Size Summary
The Australian food enzymes market is experiencing significant growth, driven by advancements in food technology and increased awareness of the benefits of enzymes in enhancing product quality. The market is particularly influenced by the food and beverage industry's demand for fermented products, where enzymes play a crucial role in processes such as fermentation. Despite challenges related to genetically modified enzymes and their perceived long-term health effects, consumer acceptance is growing as food safety authorities establish standards for their use. The market is characterized by the intensive production of carbohydrases, which are essential for breaking down plant cell walls and improving the nutritional value of food products. This demand is met through the development of enzyme cocktails that enhance food processing byproducts, improving energy value, nutrient release, and starch digestibility.
In the beverage industry, enzymes are indispensable, facilitating essential reactions for both alcoholic and non-alcoholic beverages. Key enzyme categories, such as carbohydrase and lipase, are used for sugar formation, viscosity control, and chill-proofing, particularly in beer production. The brewing industry benefits from enzymes like cellulose, alpha-amylase, and beta-glucanase, which improve malt separation, extraction yield, and beer filtration. The market is dominated by major international players like Novozyme, DSM, DuPont, and Kerry Group, with domestic companies facing stiff competition. Obtaining regulatory approvals for enzyme use in food products is a significant challenge, prompting many companies to focus on new product launches to expand their market presence.
Australia Food Enzymes Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porter's Five Forces Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 By Application
-
2.1.1 Bakery
-
2.1.2 Beverage
-
2.1.3 Dairy and Frozen Desserts
-
2.1.4 Meat, Poultry, and Seafood Products
-
2.1.5 Other Applications
-
-
Australia Food Enzymes Market Size FAQs
What is the current Australia Food Enzymes Market size?
The Australia Food Enzymes Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in Australia Food Enzymes Market?
Puratos Group, Deltagen, DuPont de Nemours, Inc., Novozymes and Kerry Group are the major companies operating in the Australia Food Enzymes Market.
