The hydrocolloids market is estimated to be valued at USD 8.4 billion in 2018 and is projected to reach USD 11.4 billion by 2023, at a CAGR of 5.3% during the forecast period. The growth of the hydrocolloids market is driven by factors such as the expansion of the processed food industry due to the increasing demand for convenience foods in regions such as the Asia Pacific, South America, and the Middle East & African. Apart from this, manufacturers are engaged in R&D to offer high-quality hydrocolloids due to its multi-functionality in the food industry.

By source, the botanical segment is projected to be one of the fastest growing segments for the hydrocolloids market due to the increased demand for natural products and ingredients. Some of the popular hydrocolloids of botanical origin used by manufacturers of the food & beverage industry include gum arabic, gum tragacanth, gum karaya, and gum ghatti.

Key Players:

• DowDupont (US)
• Ingredion (US)
• Cargill (US)
• Kerry (Ireland)
• Archer Daniels Midland Company (US)
• Palsgaard (Denmark)
• Darling Ingredients (US)
• CP Kelco (US)

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Market Drivers:

• Rise in Consumption of Premium Food & Beverage Products
• Multi-Functionality of Hydrocolloids Leads to Their Wide Range of Applications
• Increase in Health-Consciousness Among Consumers Drives the Natural Hydrocolloids Market          

Market Opportunities:

• The Emerging Markets Illustrate Great Potential for Hydrocolloids
• Increase in Investments in Research & Development

By type, guar gum is projected to be the fastest growing segment in the hydrocolloids market. Derived from the guar plant, it finds applications in the food, pharmaceutical, and cosmetics industries. In the food industry, it is used as a thickening and binding agent. It is used in a wide variety of food products such as ice cream, baked goods, cheese, soups, gravies, noodles, and meat. In addition, it is used in cosmetics products such as lotions, creams, and shampoos. In the pharmaceutical industry, it is used as a binder in tablets. Expansion of the food processing industry in the developing countries is projected to boost the sales of guar gum in the coming years.

By function, the stabilizers segment is considered to be one of the fastest-growing segment in the hydrocolloids market. Hydrocolloids used as stabilizers include locust bean gum, guar gum, carboxymethyl cellulose (CMC), xanthan gum, alginate, and carrageenan. The increasing demand for convenience foods in emerging countries is projected to drive the demand for hydrocolloids in the coming years.

Geographical Prominence:

North America is the fastest-growing market for hydrocolloids and is projected to record the highest CAGR during the forecast period. The North American market is completely driven by the US, which accounted for nearly 84.0% of the market share in 2017. The US has a large market for bakery, confectionery, convenience food, and packaged food products; hence, it constitutes a major share in the market. Consumers in the US are calorie-conscious, due to which low-calorie and low-fat foods are popular in the country. The increasing prevalence of obesity and cardiac diseases have led to an increasing demand for natural and low-calorie food products among consumers. Food manufacturers are therefore concentrating on the application of natural hydrocolloids and their functions as fat replacers.

The global food & agriculture technology and products market size is projected to grow from USD 494.9 billion in 2018 to USD 729.5 billion by 2023, at a CAGR of 8.1% during the forecast period. The increase in demand and consumption of livestock-based products and seafood, rise in consumer awareness about food safety, governments’ support to adopt modern agricultural techniques, and demand for agricultural production due to the increasing population are some of the major drivers for the growth of the food & agriculture technology and products market.

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The food & agriculture technology and products vendors include ADM (US), Evonik (Germany), DSM (Netherlands), United Technologies (US), Deere & Company (US), Daikin (Japan), Signify Holdings (Netherlands), SGS SA (Switzerland), Zoetis (UK), GEA (Germany), Pentair (UK), Intertek (UK), Genus (UK), Neogen (US), AKVA Group (Norway), Eurofins (Luxembourg), Canopy Growth Corporation (Canada), Americold Logistics (US), Groupe Grimaud (France), and MosaMeat (Netherlands). Acquisitions were the most dominating strategy adopted by major players, followed by new product launches. This has helped them to increase their presence in different regions and expand their product portfolio.

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In the food & agriculture technology and products market, the animal industry has been segmented, on the basis of subindustry, into animal health, aquaculture products, and animal genetics. The animal health segment is projected to account for the largest share of the market by 2023. This is attributed to the high global demand from farmers for animal health products to improve the performance and prevent diseases in their livestock from obtaining quality products. Further, the rising awareness about the importance of animal health for sustainable output and increasing consumption of animal-derived protein are also projected to drive the market.

Europe is estimated to account for the largest share of the market in 2018. It is highly professional and technologically advanced for smart agriculture. This region has one of the strongest economies and widespread industries, which create high capital investment capabilities. In Europe, large farm owners had started adopting smart agriculture technologies to increase their farm profits, while small farm owners were hesitant due to less investment capacity. Farmers are already using smart agriculture technologies for enhanced yield. These factors drive the segment in the European region.

Deere & Company is engaged in the development, manufacture, and distribution of its diverse range of agricultural and other machinery. The company operates primarily through three business segments – agricultural & turf, construction & forestry, and financial services. It offers tractors, pre-harvesting equipment, planting equipment, and precision farming equipment and technology under the agricultural & turf segment.  The construction and forestry segment primarily manufactures and distributes a broad range of machines and service parts used in construction, earthmoving, road building, material handling, and timber harvesting. The financial services segment primarily finances sales and leases by John Deere dealers of new and used agriculture & turf equipment and construction & forestry equipment. In September 2018, Deere & Company acquired PLA (Argentina), to enhance its product portfolio of sprayers, planters, and specialty products for agriculture.

DSM is a global science-based company operating in the health, nutrition, and materials business. The company operates through five segments—nutrition, materials, innovation center, corporate activities, and partnerships. Its nutrition segment includes DSM Nutritional Products and DSM Food Specialties. The nutrition and food specialty segment of the company caters to different end-use application industries, such as food, feed, nutraceutical, infant nutrition, personal care, and pharmaceutical. The company offers nutritional supplements such as vitamins, carotenoids, nutritional lipids, omega acids, premixes, and astaxanthin for both human and animal nutrition. These products are developed under its DSM Nutritional Products business. The company offers its feed additives through its animal nutrition & health division, which falls under the DSM Nutrition Products business. It offers a wide range of products that include carotenoids, eubiotics, vitamins, and feed enzymes for various animal species, such as aquaculture, poultry, ruminants, swine, and companion animals. DSM operates in more than 40 countries with over 100 commercial production facilities.

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The key players identified have a strong presence in the top 10 trends in food safety testing and technologies industry including SGS S.A. (Switzerland), Bureau Veritas S.A. (France), Intertek Group plc (U.K.), Eurofins Scientific SE (Luxembourg), ALS Limited (Australia), Thermo Fisher Scientific Inc. (U.S.), Mérieux NutriSciences Corporation (U.S.), AsureQuality Ltd. (New Zealand), Microbac Laboratories Inc (U.S.), and Romer Labs Diagnostic GmbH (Austria).

The key market players adopted various growth strategies such as expansions, acquisitions, agreements, in order to cater to the increasing demand for food safety and testing technologies. The companies increased their research and development expenditure to expand their manufacturing capacities and offer diversified food safety testing technologies.

The core strengths of the key players that have driven the top 10 trends in food safety testing and technologies industry are strategic expansions and acquisitions, in order to enhance their market presence. Market players such as SGS S.A. (Switzerland), Bureau Veritas S.A. (France), and Intertek Group plc (U.K.) successfully tapped the potential markets through expansions, acquisitions, and new service launches. Moreover, these companies also focused on offering a diverse range of testing services such as food pathogen testing, GMO Testing, pesticide residue testing, and others to cater the changing requirements of the food safety testing and technologies industry.

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SGS S.A. (Switzerland) has been one of the major players in the global food safety testing and technologies industry; it adopted strategies such as acquisitions, expansions, partnerships, and new technology & service launches in the recent years. The company acquired Laboratoire LCA (Morocco), to expand its business in the Moroccan agriculture market, it also expanded its food testing laboratory in South Korea, to offer food chemical testing, food contaminant testing, and microbiological and DNA testing.

Bureau Veritas S.A. (France) adopted acquisitions as its strategy to expand its presence in the food safety testing and technologies industry. Bureau Veritas S.A. is a global leader in providing testing, inspection, and certification services to meet the growing challenges of quality, safety, environmental protection, and social responsibility. The company offers innovative solutions for regulations & standards, reducing risks, improving performance, and promoting sustainable development.

Intertek Group plc (U.K.) adopted strategies such as expansions and acquisitions in order to efficiently expand its geographic presence in recent years. Intertek set up its AgriTech laboratory at Hyderabad (India) to perform DNA-based testing of various agricultural products. The company introduced its advanced ScanBi DNA testing technology in India with this expansion. The company also acquired the Italian company Food International Trust (FIT-Italia), which provided a wide range of assurance, testing, and certification services.

The food safety testing and technologies market encompasses a variety of testing technologies. The markets covered under food safety testing include food safety testing market, GM food safety testing market, food pathogen testing market, meat speciation testing market, food authenticity testing market, pesticide residue testing market, mycotoxin testing market, and food allergen testing market. The markets covered under water safety testing & technologies include water testing and analysis and bottled water testing.

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The food safety testing market is estimated to be valued at USD 12.01 billion in 2016. The various factors that drive the food safety testing market include worldwide increase in foodborne illness outbreaks, implementation of stringent food safety regulations by the government, and availability of advanced technologies capable of rapid testing. Globalization of food supply that has resulted in an increased export and import of food products and agricultural commodities worldwide is another driver influencing this market.

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The plant-based protein market is estimated at USD 18.5billion in 2019 and is projected to reach USD 40.6billion by 2025, at a CAGR of 14.0% during the forecast period. Consumers are focused toward a better understanding of the provenance of their food and avoid products deemed unnatural or unhealthy. These “clean” eating trends, driven primarily by millennials, favor foods that are healthy, ethically and naturally sourced, and less processed. Increased plant-based protein product consumption is a direct consequence of this shift.

By source, the pea segment is projected to be the fastest-growing segment within the global plant-based protein industry during the forecast period. The pea segment is driven by the rising demand for plant-based meat and healthy food products. A significant increase in the usage of pea as a key ingredient is being noticed in the plant-based meat industry. It is gradually becoming the primary choice for plant-based meat consumers due to its high nutritional profile and rich protein content. Leading players in the global plant-based meat industry are now shifting their interest toward pea and have also started developing pea-based meat products such as patties, sausages, and slides, which are high in protein content.

Based on type, isolates accounted for the highest demand in 2018, followed by concentrates and protein flour. Protein isolates contain a larger amount of protein along with higher digestibility. Isolates are demanded widely in protein and nutrition-oriented applications such as sports nutrition, protein beverages, and nutrition supplements. In recent years, they have been required more from athletes, bodybuilders, vegetarians, and have gained wide application in various beverages and dairy products, due to their different functional properties. Market players such as ADM (US), DuPont Danisco (US), Ingredion Inc. (US), BurconNutraScience Corp. (Canada), Axiom Foods (US), and The Scoular Company (US) offer protein isolates for various food applications such as protein bars, meat alternatives, protein beverages, dairy alternatives, nutrition bars, and bakery products.

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On the basis of application, the demand for protein beverages was the highest in 2019; as a result, the protein beverages segment is estimated to account for the largest market share, followed by dairy alternatives, meat alternatives, protein bars, nutrition supplements, processed meat, poultry, and seafood, bakery products, sports nutrition, and convenience food. The perception of consumers about beverage products has changed as beverages are no longer just thirst-quenching drinks. Considering these requirements, beverage manufacturers across the world are actively developing and introducing plant-based beverage products. Moreover, in response to this trend, leading plant protein producers are introducing new and high-protein sources in the global market. For instance, DuPont Nutrition & Health expanded its plant-based protein product range with a new pea protein for beverages called TRUPRO 2000 Pea Protein in 2018.

North Americais the fastest-growing market for plant-based protein; it is projected to record the highest CAGR during the forecast period. The presence of leading plant-based protein companies in this region, along with the availability of a variety of plant-based protein products that are manufactured using different sources such as soy, wheat, pea, canola, and rice, is a key factor driving the North American plant-based protein market. Consumers in the region are incorporating plant-based protein products in their daily routine diets, owing to the health concerns related to the consumption of animal protein products.

Plant-based protein manufacturers are focusing on product launches to expand their consumer base in the market. Leading players operating in the plant-based protein market include Cargill Inc. (US), ADM (US), DuPont Danisco (US), Glanbia (Ireland), Kerry Group (Ireland), Tate & Lyle (UK), Ingredion Inc. (US), BurconNutraScience Corporation (Canada), Royal DSM N.V. (Netherlands), Sotexpro S.A (France), Axiom Foods (US), and The Scoular Company (US).

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According to MarketsandMarkets, the global bakery premixes market size is estimated to be valued at USD 298 millionin 2019 and is projected to reach USD 413 millionby 2025, recording a CAGR of 5.6% from 2019to 2025. Theincreasing number of product launches from major companies and the rising demand for quick and convenient baking solutionsare some of the factors driving the growth of the bakery premixes market. 

Thebakery premixesmarket isprojected to witness high growth due to the increasing global population in developing countries and the rising bakery consumption across the globe. The busy lifestyles and increasing consumer inclination toward convenience food products are factors that have also led to a risein demand for bakery products.

Currently, the key players in the market are focusing on launching new types of bakery premixes,such as Oy Karl Fazer AB(Finland),Archer Daniels Midland Company(US),Cargill(US),Corbion(Netherlands),and Bakels Group(Switzerland).These companies provide high-quality bakery mixes across the globe.The primary focus of these companies is to launch new products, which helps it integrate and diversify its product portfolio.

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Complete mix is one of the major categories in the bakery premixes market, which is projected to witness significant growth during the forecast period, due to the high convenience associated with usage of the complete mix. The major advantage associated with complete mix is convenience, as only water is added to the product. Complete mixes are the type of bakery premixes that are used as readymade mixtures based on rye flour, wheat for making bread, and other bakery products such as pastry, mixes, and pancakes.

The bakery products segment is projected to dominate the bakery premixes market share during the forecast period. This is due to the increasing application of premixes in bakery products, such as pastries, cakes, muffins, donuts, and pancakes. In addition, the bread products segment is projected to record high growth in the coming years. This is due to the increasing trend of consuming bread products, which drives the demand for bread premixes.Thecakes subsegment is projected to account for the largest share in the market, as cake mixes are convenient to use and provide a moist texture and consistent flavor to the final products. These products are available in different flavors, such as chocolate, vanilla, and fruits, which is projected to drive the growth of the bakery premixesmarket over the forecast period.

The South Americanbakery premixes market is projected to offer high growth potential in the coming years. The region includes countries such as Brazil, Argentina, Peru, Chile, Colombia, Uruguay, Ecuador, and Venezuela. These countries are witnessing a significant increase in consumption of on-the-go food products due to the adoption of urbanized lifestyles among consumers. This has encouraged consumers to opt for on-the-go food options, which has led to high demand for bakery products among consumers in the region. The expansion of supermarket chains and convenient stores has further led to a rise in sales of bakery products in the region, as theyare fast occupying supermarket shelves.

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Herbal Supplements Market. We are working diligently to help companies take rapid decisions by studying:

• The impact of COVID-19 on the Herbal Supplements Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Herbal Supplements Market
• The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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The herbal supplements market is projected to grow at a CAGR of 6.8% from 2016 to 2022. Rise in ageing population, increasing number of female buyers for dietary supplements, and increasing awareness for preventive healthcare measures are some factors driving the market. The key market players have adopted strategies such as acquisitions, expansions, and joint ventures to expand their market share in the herbal supplements market. The key players who adopted these strategies Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), Herbalife International of America, Inc. (U.S.), Blackmores (Australia), and Nutraceutical International Corporation (U.S.). Other players in the industry include The Natures Bounty Co. (U.S.), Arizona Natural Products (U.S.), Ricola (Switzerland), NaturaLife Asia Co., Ltd. (Korea), and Bio-Botanica Inc. (U.S.).

Glanbia plc
Glanbia plc is engaged in the production and distribution of performance nutrition and ingredient products for better nutrition and health. The Glanbia nutritional business segment of the company comprises dairynon-dairy-based nutritional ingredients and customized solutions/premixes. It also contains nutrition & supplements that are made to enhance health of consumers of all age groups. The company’s effort in expansion in developing countries of the Latin American Africa and Asia-Pacific regions has the market opportunity to grow its Glanbia nutritional’s segment. For instance it acquired the U.S. beverage manufacturer Aseptic Solutions Inc. in 2012 in order to strengthen its business in its nutritional segment.

Herbalife International of America Inc.
Herbalife is one of the leading nutrition companies engaged in the production of nutritional products, such as protein, fiber, and vitamins. The company offers its products through four principle segments, namely, Weight Management; Targeted Nutrition; Energy, Sports, and Fitness; and Outer Nutrition. It operates in over 91 countries, spanning North and Latin America; Asia-Pacific, Europe, and Africa. Herbalife has a strong market presence in the world, which has helped it to achieve a considerable market share in the supplements industry. Therefore, providing quality products has been the key strategy of the company. For instance, in 2014, the company launched a new green tea product line, which increased the company’s product portfolio.Request for Sample Report Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=736

We salute industry experts helping companies survive and sustain in this economic pandemic; they are working day and night to help companies take rapid-decisions by finding:

• Covid Impact on Oleoresins Market, growth/decline in product type/use cases of Digital MRO Market due to cascaded impact of Covid 19 on Extended Ecosystem.
• How top 50 companies in Oleoresins Market are making rapid shifts in their strategies as we speak here.
• Outside-in view of top 50 companies’ client and client’s clients shifting short-term priorities.

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According to MarketsandMarkets, the oleoresins market is estimated to be valued at USD 1.2 billion in 2019 and is projected to reach USD 1.7 billion by 2025, recording a CAGR of 6.0% from 2019 to 2025. The rapidly growing demand for natural flavors in the food & beverage industry and the wide application of oleoresins in various other industries such as pharmaceuticals, personal care, and feed sectors are some of the key factors driving the growth of the market.

The North American region is estimated to dominate the oleoresins market, in terms of value, in 2019

The oleoresins market in North America is projected to witness high growth due to the strong local and export demands. The US is one of the major importers of oleoresins across the globe. Although the production of oleoresins in the North American region is not at par with the domestic demand and the consumption rate in the region is comparatively higher. Oleoresins witness high demand in the processed food sector in developed countries, where the purchasing power of consumers is high as compared to the developing countries. The growth in the pharmaceutical industry and increasing consumer preferences for natural diet supplements in the North American countries are projected to drive the growth of the oleoresins market in the region.

Key Players:

• Akay Group (India)
• Synthite Industries Pvt. Ltd. (India)
• AVT Naturals (India)
• Givaudan (Switzerland)
• PT Indesso Aroma (Indonesia)
• Vidya Herbs Private Limited (India)
• Ungerer & Company (US)

Synthite Industries Private Ltd (India) is one of the largest producers of plant extracts such as oleoresins in the Asia Pacific region. The company claims to account for more than 30% share in the global oleoresins market. It has an increasing presence across regions with its products supplied in around 11 countries, globally. Synthite Industries offers over 500 products, including essential oils, spice extracts, herb extracts, tea & coffee extracts, floral extracts, vanilla extracts, dried fruit extracts, natural colors, seasonings, spray-dried/encapsulated products, and phytochemicals. The company offers a range of oleoresins-based products to serve various industries, such as food, beverage, confectionery, health & wellness, and personal care, as well as agriculture and livestock. It has an operational presence in regions, such as Asia Pacific and North America with its units in China, Vietnam, and Sri Lanka, besides Kerala, Tamil Nadu, Karnataka, and Andhra Pradesh in India. The increasing export demands for oleoresins from the company has encouraged it to open its units in Indonesia. The company has expanded its facilities in Brazil to cater to the demands of its customers in other countries and regions. It also has shifted its manufacturing facilities to the South East Asian countries due to the increasing availability of raw materials.

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Plant Lipids (India) is a company offering various products through several segments, such as flavor ingredients, spice & seasonings, fragrance ingredients, natural food colors, and nutraceutical ingredients. It supplies nearly 500 products to over 80 countries across the globe. The company offers oleoresins under the flavor ingredients segment. Some of the major oleoresins offered by the company are black pepper, capsicum, cardamom, celery seeds, and clove. Plant Lipids has its manufacturing facilities in India and Sri Lanka with its operating units in India and the UK, and its marketing offices in Germany, Bangkok, and Sri Lanka. The company has opened a new office in Indonesia, which was the fourth office of the company in Asia. This expansion has strengthened the company’s capability to cater to the demands in the Asian market.

The potato protein market is estimated to be valued at USD 72.2 Million in 2017, and is projected to reach USD 88.2 Million by 2022, at a CAGR of 4.1%. The market is driven by the rising vegan population, consumer concerns regarding food allergens in products, and nutritional profile of potato proteins.

Key players in the potato protein market include Avebe (Netherlands), Tereos (France), Roquette (France), Agrana (Austria), and Omega Protein (US). Further, Peppes Group (Poland), Emsland Group (Germany), Meelunie (Netherlands), KMC Ingredients (Denmark), Südstärke (Germany), AKV Langholt (Denmark), and PPZ Niechlow (Poland) are few others players in this market.

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Avebe is one of the active players in the potato protein market; it is engaged in the production and marketing of potato-based starch, proteins, and fibers for the food, feed, paper, building, textile, and adhesive industries. Avebe offers innovative potato protein products for food as well as feed applications. The company has adopted organic strategies such as expansions and new product launches to improve its presence in the market. Further, the company has manufacturing units in the Netherlands, Germany, and Sweden. It operates its business worldwide through its various subsidiaries which include Avebe KPW GmbH (Germany), AB Stadex (Sweden), Atatürk Organize Sanayi Bölgesi (Turkey), and Avebe America Inc. (US). In November 2017, Avebe opened a new office in Dubai with a view to strengthening its commercial sales in the Middle East.

Tereos is one of the largest manufacturers and suppliers of sugar, starch, and alcohol. It has a strong presence in 13 countries with 49 manufacturing facilities, a few of which are located in Brazil, France, Belgium, Spain, China, and Indonesia. Tereos offers potato proteins for a wide range of applications such as compound feed, starter feed, and feed premix in the feed industry. The company has become a renowned brand in the industry for its quality and client base. It focuses on mergers & acquisitions to increase its geographic reach and strengthen its business network. For instance, in January 2016, Tereos and APM Deshy (France) merged to generate opportunities for members, enhance agricultural production, and improve their beet, starch potato, and alfalfa businesses.

Agrana is one of the leading sugar and custom starch product manufacturers in the European region and is a producer of fruit preparations. The company operates globally through 54 production sites and its subsidiaries in 26 countries with five starch plants in Europe. Agrana offers potato proteins for use in feed applications. It lays special focus on providing its customers with GMO-free and organic products. The company adopted expansions as a strategy to enhance its presence in the potato proteins market. In September 2014, Agrana set up a new Agrana Research & Innovation Center (ARIC) in Tulln (Austria) to combine all research and innovation activities of Zuckerforschung Tulln (ZFT).

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Asia Pacific is projected to be the fastest-growing market during the forecast period

Asia Pacific is projected to be the fastest-growing region in the potato protein market from 2017 to 2022. The growth of this market can be attributed to the growth in the demand for potato protein for use in feed, owing to Asia Pacific’s highest livestock population as well as feed consumption. The large base of the vegan population in the Asia Pacific region is a major driver for potato protein.

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The meat substitutes market is estimated to be valued at USD 1.6 billion in 2019 and is projected to reach USD 3.5 billion by 2025, recording a CAGR of 12.0% during the forecast period. Growth of the meat substitutes market is driven by factors, such as the changing preferences of people for vegan food products as well as increasing obesity.

The key players in the meat substitutes market include Archer Daniels Midland Company (US), DuPont (US), Roquette Frères (France), Kerry (Ireland), Ingredion (US), The Nisshin OilliO Group,Ltd (Japan), Axiom Foods (US), Sotexpro S.A (France), Wilmar International Limited (Singapore), CRESPEL & DEITERS (Germany), CHS INC. (US), Suedzucker (Germany), MGP Ingredient (US), Puris (US), Sonic Biochem Ltd. (India),  The Top Health Ingredients (Canada), The Emsland Group (Germany), and Cargill (US).

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Cargill (US) is involved in the manufacturing and marketing of food ingredients; agricultural products; and risk management, financial, and industrial products & services around the globe. Its key business segments include specialty food ingredients & applications and bulk ingredients. It comprises 75 businesses, which are classified into four main divisions, namely, agriculture, food, financial, and industrial. The products & services provided by the company are in the area of animal nutrition and feed, commodity trading and processing, industrial/bio-industrial products, energy and fuels, farmer services, financial and risk management, food & beverage ingredients, health and personal care, and salt. The company mainly focuses on various investments to strengthen its position in the meat substitutes market. For instance,

• In August 2019, Cargill invested $ 75 million in PURIS (US), a key distributor of pea protein ingredients to Beyond Meat (US). This investment would enable PURIS to double its production of pea proteins.

Archer Daniels Midland Company (ADM) produces food & beverage ingredients, feed & feed ingredients, industrial ingredients, biofuels, and naturally derived alternatives to industrial chemicals. It operates through five segments—agricultural services, oilseeds processing, corn processing, wild flavors and specialty ingredients, and others. Its network spans across more than 170 countries around the world. It operates globally through 271 processing plants and more than 450 procurement facilities, where cereal grains and oilseeds are processed into products used in the food, beverage, nutraceutical, industrial, and animal feed markets. It also has 46 innovation centers and owns approximately 200 warehouses and terminals, which are used as bulk storage facilities. It mainly focuses on various partnerships to expand itself to strengthen its product portfolio in the meat substitutes market. For instance,

• In August 2019, ADM (US) and Marfrig (Brazil) entered into a partnership to provide plant-based burgers in Brazil. Marfrig (Brazil) currently offers plant-based burgers in Brazil, whereas ADM provides natural ingredients and plant-based protein flavors to its US customers.

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Ingredion (US) is an ingredient solutions company whose product line includes sweeteners, starches, and unique ingredients from plant sources, such as corn, tapioca, rice, sago, and potato. It also sells biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally. It caters to a variety of customers in diverse industries around the world, including food, beverage, paper & corrugating, brewing, pharmaceutical, textile, and personal care, as well as the global feed and corn oil markets. Its key reportable segments include food, beverages, animal nutrition, brewing, and others. It maintains a strong operational base of 44 manufacturing facilities and has a presence across 60 countries.

Ingredion produces a diverse variety of flours made out of pulses. These flours are used in bakery products, snacks, cereals, meat alternatives, pasta, batters, and breading. Meat alternatives are produced from pea, faba beans, chickpea, and lentils. The company mainly focuses on various expansions & investments to expand itself in the meat substitutes market. For instance,

• In May 2019, Ingredion invested about USD 185 million toward a new facility in Vanscoy, Canada, which would be operational by 2020. The new facility would play a key role in the development and production of new protein concentrates and flours from lentils, faba, peas, and beans.

The enzymes market was valued at USD 10.0 billion in 2019 and is projected to reach USD 14.7 billion by 2025, recording a CAGR of 6.7% during the forecast period. The demand for enzymes is increasing significantly, as it is being used across various industries and as a substitute for chemicals.

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Market Dynamics:

Drivers:

• Growing environmental concerns and increasing demand for biofuel
• Advancements in R&D activities for technical enzymes
• Advancements in enzyme engineering & green chemistry and the introduction of genetically engineered enzymes
• Multifunctionalities of enzymes

Restraints:

• Stringent regulatory framework

Opportunities:

• Demand for an alternative to synthetic chemicals

Challenges:

• Concerns over quality, safety, and consumer perception toward enzymes

Target Audience:

• Enzyme manufacturing companies and government organizations
• Service providing company officials
• Government and research organizations
• Research officers
• CEOs and vice presidents
• Marketing directors
• Product innovation directors and related key executives from manufacturing companies and organizations operating in the market
• Manufacturing and marketing companies

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Geographical Prominence:

The enzymes market in Asia Pacific is expected to witness the highest growth due to the increasing demand for enzymes in industrial and specialty applications. Technological innovations in machinery, synthetic fibers, logistics, and globalization of business have made the textile & leather industry one of the essential sectors in the Asia Pacific region. Furthermore, the shift of industrial operations from developed regions, such as North America and Europe to Asia Pacific, has further contributed to the growth of the enzymes market in this region. The use of enzymes in the biofuel industry will grow further due to the increase in bioethanol production and its usage in fueling automobiles and electricity. In addition, the majority of the population resides in the Asia Pacific region, which is contributing to the growth of the pharmaceutical industry. Enzyme usage in pharmaceutical products will further drive the enzymes market in the Asia Pacific region.

Key Players:

• BASF (Germany)
• DuPont (US)
• Associated British Foods (UK)
• Novozymes (Denmark)
• DSM (Netherlands)
• Dyadic International (US)
• Advanced Enzymes Technologies (India)
• Aumgene Biosciences (India)