Enzymes are used in dairy products for coagulation of milk and in order to gain specific results. Major factor driving growth of the global dairy enzymes market is increasing demand for dairy products among consumers. However, safety regulations regarding usage of enzymes in food products is a challenging factor that may affect growth of the target market.
The global dairy enzymes market has been segmented on the basis of source, type, application, and region. On the basis of source, the market is segmented into animals or microorganisms, and plats. Animals and microorganisms segment is expected to account for major share in terms of revenue in the near future. On the basis of type, the market is segmented into lipase, lactase, microbial rennet, chymosin, and others. Microbial segment is expected to witness lucrative growth over the forecast period as it is less expensive dairy enzyme than other product types.
On the basis of application, the market is segmented into cheese, milk, infant formula, whey, yogurt, ice-creams, butter, and others. Cheese segment dominates the global market and is anticipated to witness high growth in the near future. Growing consumption of cheese among individuals, owing to increasing number of fast-food joints is a key factor propelling growth of the global dairy enzyme market.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to dominate the global market in terms of revenue over the forecast period, owing to increasing consumption of dairy products among individuals in this region. Currently, the market North America dominates the global dairy enzyme market, followed by Europe. Asia Pacific market is expected to witness fastest growth in terms of revenue in the near future, owing to abundant milk production, coupled with increasing number of food processing industries.
Key players operating in the global dairy enzymes market include DowDuPont Inc., Kerry Group plc, Koninklijke DSM N.V., Chr. Hansen Holding A/S, Novozymes A/S, Advanced Enzyme Technologies Limited, Amano Enzyme, Fytozimus Biotech Inc., Enmex, S.A.de C.V, and SternEnzym GmbH & Company KG.