North America 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 North America Bakery Enzymes Market would witness market growth of 8.5% CAGR during the forecast period (2021-2027).
Enzymes are the natural minerals that are found in animals and plants. These minerals are gaining importance in the food processing industry because of their numerous benefits and qualities. As there has been a shift in consumer preferences in the last few years, product innovation has become increasingly important in this market. Consumers are more aware of health and nutrition. As a result, bakers have come up with new healthy baked goods options to appeal to consumers. Growing awareness among the consumers has allowed them to invest in chemical-free and nutrition-rich products.
With the help of bakery enzymes, makers of baked goods can quickly fulfill the demand of consumer for less salt, additives, acrylamide, gluten-free, and emulsifiers while maintaining the taste of baked goods and snacks. In the modern era, consumers are looking for baked goods that are tastier, healthier, and have more variety and value.
According to the data shared by Government of Canada, there were approximately 2,760 bakeries across the Canada, and it is the second biggest employer in the food and beverage industry. Moreover, the number also showcases the growing demand for bakery enzymes due to the increased consumption and demand of baked products. Breads such as bagels, toast, and English muffins are witnessing high demand across the US and Canada. The US bakery market has seen a hike in popularity for the portable and single-serve packaging. Hence, these factors are anticipated to boost the growth of regional bakery enzymes market during the forecasting period.
The US market dominated the North America Bakery Enzymes Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $224 million by 2027. The Canada market is anticipated to grow at a CAGR of 11% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 10% 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 U.S., Mexico, Canada, and Rest of North America.
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
- Rest of North America
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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