Baking enzyme is a form of a chemical which performs biochemical actions and act as a catalyst. Baking enzymes are widely used in confectionery items like pastries, cakes, cookies. Baking enzyme is the main ingredient in the preparation of these items. Baking enzymes have various advantages like a high dough handling, improves the texture and appearance of the product, generate appealing colors and flavors, enhance the nutritional value of the product, long shelf life, maintain freshness and softness of the products.
Baking enzymes market is important for various industries like food and beverages, where products are perishable in nature and its freshness and stability is most important, specially bakery products. Recently, AB Enzymes have made The Ingredients Company, its sole distributor in USA to strengthen its presence in the region and also to accelerate its growth and customer services. Behn Meyer Chemicals have been appointed by AB Enzymes as a distributor of its, baking, beverages, food and textile enzymes for a few countries within Southeast Asia. Novozymes is to establish a new innovation campus in Denmark for its research and business development which would further help in product development and future growth of the company.
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Baking Enzymes Market: Drivers & Restraints
Increase demand for bakery products, increase awareness about health and nutrition, food, technological advancement, decline use of emulsifiers, increase demand for packaged food, urbanization, and change in lifestyle are the most important driving factors in baking enzymes market. Since baking enzymes maintain the freshness, hygiene, stability and nature of the product, the demand for baking enzymes market has increased.
Strict government rules and regulations for its use like in the UK and Canada, the European Union also imposed a legislation regarding the risks involved with its uses in the food industry and hence further amendments are required with a set of guidelines to regulate in the market, threat from substitutes are acting as a barrier for baking enzymes market.
Baking Enzymes Market: Segmentation
Baking enzymes market is broadly classified on the basis of the following segments –
- Biscuits and Cookies
- Cakes and Pastries
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Baking Enzymes Market: Overview
The baking enzymes market has grown substantially at a healthy CAGR due to increase in food and beverage industry. With rising disposable income and technological advancement, wise use of applications of baking enzymes, its market is expected to grow globally. Asia Pacific will emerge as the fastest growing region in baking enzymes market.
Baking Enzymes Market: Region-wise Outlook
The baking enzymes market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, baking enzymes market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Asia Pacific is the fastest growing market due to the increase applications of baking enzymes. North America dominates the global enzyme market due to diverse consumption habits and health conscious attitude of the people. North America have also invested huge in enzyme related technologies to increase its production.
Baking Enzymes Market: Key Players
Some of the key market players in baking enzymes market are AB Enzymes, DSM, DuPont (Danisco), Novozymes, Advanced enzymes, Amano Enzymes and others.