According to the latest report by IMARC Group, titled "Food Enzymes Market: Latin America Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Latin America food enzymes market reached a value of US$ 177.4 Million in 2021. Food enzymes are ingredients that act as catalyzers and are extensively used for increasing diversity, variety, and quality during food processing. These are often utilized owing to their multiple benefits, which include enhancement of texture, flavor and fragrance, preservation, and coagulation. The enzymes produced from plants, animal tissues, and microorganisms are used in the food industry for broad applications. They are primarily used for stabilizing and clarifying beverages, reducing ripening time in dairy and meat products, increasing the loaf volume of bread, improving the quality and yield of products, modifying fats, and tenderizing meats. As a result, they are majorly used in the preparation of baked goods, fruit juice, cheese, and brewed beverages.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Latin America Food Enzymes Market Trends:
The market in Latin America is majorly driven by the increasing product demand in the food industry. In line with this, the rising demand for high-quality food and beverages in terms of taste and nutritional content is positively influencing the market. Furthermore, the shifting preference from regular staple food to nutrient-enhanced healthy food products is catalyzing the demand for enzymes. Apart from this, the emerging trend of consuming clean-labeled products, the growing demand for natural ingredients, and continual ongoing biotechnological advancements are acting as other major growth-inducing factors. Moreover, the escalating demand for all-natural, chemical-free products has led to the increased incorporation of bio-based additives in processed foods, thus creating a positive outlook for the market. Additionally, multiple food enzyme manufacturers are focusing on technological expansion to capitalize on the growing demand from different sectors, thereby providing a boost to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 235.8 Million by 2027, exhibiting a CAGR of 4.8% during 2022-2027.
- On the basis of the type, the market has been segmented into carbohydrase (amylase, cellulase, lactase, pectinase, and others), protease, lipase, and others.
- Based on the source, the market has been categorized into microorganisms, bacteria, fungi, plants, and animals.
- On the basis of the formulation, the market has been classified into powder, liquid, and others.
- On the basis of the application, the market has been segmented into beverages, processed foods, dairy products, bakery products, and confectionery products, and others.
- On the basis of the country, the market has been divided into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?
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