The global protease market is holding a valuation of US$ 2.1 billion in 2023. The market is expected to reach a valuation of US$ 4.6 billion by 2033. The sector is anticipated to witness a growth of 7.8% during the forecast period.
The world is observing a massive growth of food industry. The food industry is currently having a huge demand for protease because of its ability to provide flavor and improve the texture. Apart from that, the consumption of protease has also been linked to improved metabolism. Rapid urbanization has led to poor eating patterns and sedentary lifestyle, which has impacted the gut health. The application of protease showcases a reverse effect and ensures a healthy gut. Apart from that, increase in the awareness of the benefits offered by protease is expected to speedup the growth.
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The manufacturers find the production of protease very profitable. This is because of the affordability factor and the ability to assist in resource optimization. These factors would help in scaling up the production. Moreover, even detergents and pharmaceutical companies are having urgent requirement of protease in bulk quantities.
There has been an increase in the consumption of beverages and meat. Protease is used in beverages for the purpose of malting. Apart from that, the meat manufacturers are making used of meat to improve the tenderness. Burgeoning consumption of beverages and meat represents massive prospect for the sales of protease.
Apart from that, there is also an increase in the consumption of dairy products. The protease in used in dairy products to prevent coagulation of milk. However, the market is expected to face challenges owing to the extraction process, which is quite costly. Moreover, dearth of plant and animal protease are expected to further challenge the market growth.
Thus, from the insights provided by the FMI analysts, it may be concluded that ‘increase in the consumption of meat, dairy products, beverages, surging cases of lifestyle diseases, and many other factors are expected to surge the protease market growth.’
Key Takeaways:
- The market is valued at US$ 2.1 billion as of 2023.
- By 2033, the market is expected to be valued at US$ 4.6 billion.
- The market is expected to grow at a CAGR of 7.8% during the period 2023-2033.
- Based on the regional analysis, North America is expected to be the largest market during the forecast period.
- The USA market is expected to grow at a CAGR of 5.6%.
- UK market is expected to advance at a CAGR of 9.5%.
- China protease market is projected to surge at a CAGR of 7.9%.
- Japan market is anticipated to grow at a CAGR of 7.2%.
- South Korea market is projected to advance at a CAGR of 9.1%.
- Based on form, liquid segment is expected to hold the highest market share, and is anticipated to surge at a CAGR of 8%.
- Based on product type, the microbial segment is projected to hold the largest market share, and is expected to advance at a CAGR of 7.8%.
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Competitive Landscape
The protease market has been witnessing an increase in mergers and acquisitions. There has also been a surge in the number of strategic partnerships. This has been done with a view to access important resources from other niches. There are massive investments being made in the R&D aspect of the business to upgrade the existing versions. Special emphasis has been laid on appointing the right business heads, who carry vast experiences with them.
In October 2022, Novozymes and Biotalys announced successful EVOCA feasibility test.
Protease Market Segmentation
By Form:
- Liquid,
- Powder & Granule
By Product Type:
- Animal (Trypsin, Renin, Pepsin, Others),
- Plant (Papain, Keratinases, Others),
- Microbial (Alkaline, Acid Stable, Neutral, Others)
By End Use Application:
- Dairy products
- Brewing
- Meat Products and Processing
- Bakery & Confectionary (Breads, Cookies & Crackers, Pastries, Waffles, Other Bakery & Confectionary)
- Baby Food/ Infant Food
- Oil & Fat Processing
- Starch and Grain Processing
- Fruits and Vegetable Processing
- Cheese Making/ Processing
- Egg Products
- Beverages
- Dietary Supplements
- Pharmaceutical Products
- Personal Care Products
- Animal Nutrition
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa(MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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