Phospholipase Enzyme Market Size Estimated to Reach $338.02 Million by 2025
Phospholipase Enzyme Market size is estimated to reach $338.02 M by 2025 and is poised to grow at a CAGR of 6.89% during the forecast period 2020-2025. Phospholipases are the type of enzymes that mainly hydrolyze phospholipids as a result of which it separates the polar and the fatty acids that are among the hydrophobic elements of the phospholipid molecule. These enzymes are majorly found in the pancreatic secretions and tissues. Rising awareness of the health advantages with phospholipase enzymes is estimated to drive the global market. They hold a crucial role in the poisons and the venoms in digesting membrane, whose main goal is to allow the infection to spread. Moreover, these enzymes also play an important part in signal transduction. The global Phospholipase Enzyme market is driven by the increasing demand for healthy foods with proper diets during the forecast period 2020-2025.
Phospholipase Enzyme Market Segment Analysis-By Product Type
The global Phospholipase Enzyme Market based on Mode of Product type, can be further segmented into Phospholipase A1, Phospholipase A2, Phospholipase B, Phospholipase C, and Phospholipase D. Phospholipase A2 registered for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast years 2020-2025. This is owing to the growing application in the various aqueous food products such as sauces, and bakery products is estimated to augment the market growth of this segment.
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Phospholipase Enzyme Market Segment Analysis-By Application
The global Phospholipase Enzyme Market based on Mode of Application, can be further segmented into Food & Beverages, Ethanol & Biofuel production, Nutraceuticals, Household care & Cosmetics, and others. The Food & Beverages segment registered for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period 2020-2025 owing to its demand in bakery products, and dairy products. Rising demand from the consumer foods sector, and increasing consumption of foods containing the Phospholipase Enzyme are driving the segment.
Phospholipase Enzyme Market Segment Analysis-By Geography
The global Phospholipase Enzyme Market based on Geography, can be further segmented into North America, Asia-Pacific, Europe, and Rest of World. North America registered for the highest revenue in 2019 and is set to grow at highest CAGR over the forecast period 2020-2025 owing to the rapid establishment of the industries such as bakery, food and beverages, and dairy in the region. However, Europe is estimated to outpace all the regions by clocking the highest CAGR during the forecast period 2020-2025 owing to the rising incidence of stomach related infections and the tumors, growing population, and increasing demand for healthy foods with proper diets.
Phospholipase Enzyme Market Drivers
Phospholipase enzymes are widely used in the manufacturing of bakery products and egg yolk products. Increasing demand for the various vegetable oils, soybean oils, growing population, and cost-effectiveness are set to propel the global phospholipase market. Phospholipase enzyme helps in production of the biodiesel as a biocatalyst. Also, rising demand for baked foods, and increasing production of biodiesel are some of the key factors for the growth of the Phospholipase Enzyme Market.
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Phospholipase Enzyme Market Challenges
Handling issues of phospholipase enzyme
The factors such as handling and safety issues of phospholipase enzyme and high sensitivity of phospholipase enzyme to temperature and pH hamper the market growth. However, competition among the producers and variability in price are the major restraints of the Phospholipase Enzyme Market during the forecast period 2020-2025.
Phospholipase Enzyme Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Phospholipase Enzyme Market. Key companies of this market Bioseutica B.V., Enzo Life Sciences Inc, EUCODIS Bioscience GmbH, Sanyo Fine Co. Ltd., Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen Holding A/S, AB Enzymes GmbH, DowDuPont Inc., Genedata and Nagase America Corporation.
Acquisitions/Product Launches:
In September 2020, Novozymes A/S announced the launch of Fiberex, which is a comprehensive platform based on the novel enzymes and yeast strains to convert the corn fiber into ethanol.
In July 2019, Genedata announced the partnership with AB Enzymes, a member of Associated British Foods and one of the world’s leading enzyme manufacturers to digitalize the strain development.
Geographically, the North American area is poised to see extraordinary development owing to the growing application of phospholipase enzyme in baked goods and dairy products in the region and is set to continue during forecast period 2020-2025.
The global demand for the Phospholipase Enzyme is owing to the increasing demand for the rising production of biodiesel, and increasing demand for healthy foods with the proper diets.
The handling and safety issues of phospholipase enzyme is estimated to restrain the market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Phospholipase Enzyme Market report.
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B. Functional Food and Nutraceuticals Market
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