Latest Industry Updates:
Oct 2017 Enzybel launched a new product Applicase in Frankfurt. The product is a performant liquid enzyme preparation to be used in food. It can be used for various applications such as seasoning, tenderizing, and palatability, among others.
Jul 2017 AB Enzymes completed expansion and upgrading of the Royal Oy enzyme manufacturing site which is based in Finland. The expansion and upgrading of manufacturing site is expected to increase manufacturing capacity, consequently enabling the company to grow in food, feed, and technical enzyme markets.
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Competitive Analysis:
The companies are aiming to capture a considerable share of the market segment as early as possible, therefore they are competing and experimenting with various advantage points. The key players are emphasizing in the research & development process to introduce new products in order to extend the product line. Key players are introducing new food glazing agents to increase the volume sales and to increase the overall revenue of the company. For instance, Enzybel launched a new product Applicase, recently. In addition, manufacturers focusing on expanding its manufacturing capacity in order to capitalize on the growing demand for the product.
The key players profiled in meat tenderizing agents market report are Enzyme Bioscience Pvt. Ltd (India), Specialty Enzymes and Biotechnologies Co. (China), Amano Enzyme Inc. (Japan) Enzybel Internationa (Belgium), AB Enzymes (Germany), National Enzyme Company (U.S.), and Enzyme Solutions (U.S.) among many others.
Market Overview:
The Meat Tenderizing Agents Market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Global Meat Tenderizing Agents Market Research Report- Forecast to 2023’ that the market will demonstrate a striking CAGR while achieving good growth rapidly in the forecast period.
Meat tenderization is one of the key quality determinant which is important to consumers. It refers to a process which helps in reducing the toughness of meat fibres, thereby softening the meat, making it easy to cut, chew, and more palatable. Meat can be tenderized through several methods. Generally, enzymes and acids are used in this process. Enzymes are extensively used in commercial methods and acids are used on a smaller scale. The two main enzymes that are extensively used are papain, extracted from papayas, and bromelain, extracted from pineapples. Both enzymes breaks down the muscle fibers and the collagen making it softer. This major application of these enzymes is expected to drive the market during the forecast period.
The consumption of meat has increased manifold, worldwide. The fastest growth has been observed in developing countries owing to increasing population, rising disposable income, and urbanization, which has directly influenced the demand for meat tenderizing agents. In addition, the growing demand for frozen and processed meat products, globally has positive impact on the growth of meat tenderizing agents market during the forecast period 2017-2023. Furthermore, changing consumption pattern has led to a large number of consumers preferring natural protein-rich food items such as meat, thereby fuelling the demand for the product.
Market Segments:
The global meat tenderizing agents market has been divided into type, source, application, and region.
On The Basis Of Type: Protease, Papain, Bromelain, Acids, Minerals, and Others
On The Basis Of Source: Plant, Bacterial, Fungal, and Others
On The Basis Of Application: Marinades, Ready-To-Cook Meat, and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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Regional Analysis:
The global meat tenderizing agents market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, North America region is estimated to retain its dominance throughout the forecast period. This is attributed by the increasing disposable income coupled with the rising demand for processed meat. However, in Asia-Pacific region especially China and India offer a lucrative opportunity in the Asia Pacific region for the meat tenderizing agents manufacturers as the meat processing industries are expanding due to high demand & rising consumption of processed meat. Europe is also projected to witness a steady growth during the reviewed period.
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