Australia Food Enzymes Market Size (2024 - 2029)

The Australian food enzymes market is experiencing growth driven by advancements in food technology and increased awareness of product quality improvements through enzyme use. The market's expansion is significantly influenced by the application of enzymes in fermentation processes within the food and beverage industry, which includes a range of fermented products. Despite challenges posed by consumer concerns over genetically modified enzymes, the market is benefiting from evolving food safety standards that are fostering greater acceptance of these products.

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Market Size of Australia Food Enzymes Industry

Australia Food Enzymes Market
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

Australia Food Enzymes Market Major Players

*Disclaimer: Major Players sorted in no particular order

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
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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.

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Australia Food Enzymes Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Bakery

      2. 2.1.2 Beverage

      3. 2.1.3 Dairy and Frozen Desserts

      4. 2.1.4 Meat, Poultry, and Seafood Products

      5. 2.1.5 Other Applications

Australia Food Enzymes Market Size FAQs

The Australia Food Enzymes Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)

Puratos Group, Deltagen, DuPont de Nemours, Inc., Novozymes and Kerry Group are the major companies operating in the Australia Food Enzymes Market.

Australia Food Enzymes Market Report Snapshots

Australia Food Enzymes Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)