LAMEA Bakery Enzymes Market By Product Type (Lipase, Protease and Other Types), By Application (Breads, Cookies & Biscuits, Cakes & Pastries and Other Applications), By Form (Powder and Liquid), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Bakery Enzymes Market would witness market growth of 10.2% CAGR during the forecast period (2021-2027).
Enzymes also help to slow down the rate at which bread deteriorates due to starch changing throughout storage. Improvements in nutritional value, higher shelf life, and product freshness are some of the reasons for including enzymes in the bakery products. Bread, an extremely common food product, is consumed on a wide-scale in urban areas due to its convenience and easy availability.
Some of the growth catalysts for bakery enzymes are growing urbanization, rising employment rate of women around the world, and demand for different cake designs such as sheet cakes, tiered cakes, layer cakes, and wedding cakes. Also, there has been a rise in the trend of bakery products such as buns, cakes, pastries, bread, rolls, cookies, and many other products among the millennials. People of all ages prefer bakery products as they are not limited to any specific age group.
The Minister of Agriculture of Nigeria took major steps to further strengthen the bakery industry in the region. The ministry spent a huge investment to strengthen the cassava flour supply in the country replacing the wheat flour. These steps increased both the manufacturing and supply of cassava bread in the region and also training would be given to Small and Medium Scale Entrepreneurs and others to produce high-quality baked products with the best ingredients and equipment provided. Bakery items have been popular among all demographics, regardless of age or economic status. Hence, these factors are anticipated to create lucrative growth opportunities for the players operating in the regional bakery enzymes market during the forecasting period.
The Brazil market dominated the LAMEA Bakery Enzymes Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $19.5 million by 2027. The Argentina market is poised to grow at a CAGR of 11.1% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 9.6% during (2021 - 2027).
Based on Product Type, the market is segmented into Lipase, Protease and Other Types. Based on Application, the market is segmented into Breads, Cookies & Biscuits, Cakes & Pastries and Other Applications. Based on Form, the market is segmented into Powder and Liquid. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Bakery Enzymes Market is Predict to reach $868.1 million by 2027, at a CAGR of 9.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Koninklijke DSM N.V., Kerry Group PLC, DuPont de Nemours, Inc., Associated British Foods PLC (Wittington Investments Limited), Novozymes A/S, Advanced Enzyme Technologies Limited, Amano Enzyme, Inc., Sternenzym GMBH & CO. KG, and Lallemand, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Other Types
- Cookies & Biscuits
- Cakes & Pastries
- Other Applications
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- BASF SE
- Koninklijke DSM N.V.
- Kerry Group PLC
- DuPont de Nemours, Inc.
- Associated British Foods PLC (Wittington Investments Limited)
- Novozymes A/S
- Advanced Enzyme Technologies Limited
- Amano Enzyme, Inc.
- Sternenzym GMBH & CO. KG
- Lallemand, Inc.
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