According to a report by Grand View Research, Inc., global bromelain market is estimated to reach at USD 59.2 million by 2025. The market is anticipated to expand at a strong growth rate of 8.7 % during the forecast period (from 2018 to 2025). Growing requirement for natural enzymes owing to rising health concerns are anticipated to propel the demand for bromelain. Bromelain natural enzyme can be extracted from fruit and stem of pineapple plant and offers several medicinal properties. Rising demand for dietary supplements due to increasing awareness regarding health can fuel growth of this market. Increasing use of bromelain as a functional ingredient to enhance properties of food products is anticipated to spur the market demand.
Rising number of R&D activities in the healthcare sector to find bromelain-based cures to various chronic diseases, such as cancer, sinus infections, asthma, and sprained ankles, can also influence the market growth during the next few years. The bromelain market is segregated on the basis of application and region. Based on application, the market is categorized into dietary supplements, healthcare, meat & seafood, and others. In 2016, meat & seafood dominated the application segment and accounted for 56.3 % of the global market share. High demand for food containers is anticipated to fuel the segment growth in the forthcoming years..
Full Research Report On Bromelain Market Analysis:
The dietary supplements segment would also witness a substantial expansion in the coming years. This is credited to the increasing usage of bromelain in dietary tablets, capsules, soft gels, and powder. Growing awareness regarding personal health can propel demand for dietary supplements, which, in turn, can stimulate the market development. The healthcare segment accounted for 25.5% of overall market share in 2016. It is anticipated to expand further, in terms of volume, at a CAGR of 9.2 % from 2018 to 2025. Continuous technological developments in the healthcare sector across the globe and high demand for bromelain are estimated to drive the market.
Regional segmentation includes Europe, North America, Asia Pacific, Central & South America, and Middle East & Africa. In 2016, Asia Pacific held the largest market share of 30.5 %. It is expected to reach 31.21 % of the overall share, in terms of volume, by 2025. Increasing number of manufacturing companies in countries such as India, China, Indonesia, and Thailand supports the region’s development. China is expected to invest more in natural enzymes on account of rapidly expanding healthcare and meat & seafood sectors. In India, favorable government initiatives through Foreign Direct Investment (FDI) schemes and rapid industrialization can augment market growth.
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In Europe, the bromelain market is expected to witness a significant growth in the next few years owing to expanding healthcare sector, particularly in Germany. Growing number of hospitals and medical centers such as pharmacies and rehabilitation centers in Germany would propel demand for bromelain, thereby driving the Europe regional market. In North America, the market accounted for 26.8 % of global market share in 2016 and is anticipated to grow further at similar pace in the forthcoming years. Extensive healthcare R&D and growing meat & seafood sector in the region can fuel the market growth.
In South & Central America, the market is likely to grow well on account to rapidly developing meat & seafood sector. Heavy investments in R&D for technological developments coupled with rising adoption of modern machines in Brazilian food and beverage industry can stimulate market growth in this region. Some of the leading companies in the bromelain market are Enzybel International SA; Hong Mao Biochemicals Co., Ltd.; Great Food Group of Companies; Enzyme Technology (PTY) Ltd.; and Changsha Natureway Co., Ltd.
Considering the rising demand for bromelain-based products, most of these companies focus on R&D to develop more efficient products. For instance, an Israel-based company named MediWound recently developed a gel called Nexobride that can efficiently remove dead skin tissues from burns. The gel has already obtained approval from the ministry of food and drug safety in Korea. The new product contains concentrate of proteolytic enzymes rich in bromelain. When applied for four hours, it shortens the time of skin implantation and expedite the treatment.
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