Rapid Development of the Chinese Processed Food Industry Aiding the Growth of the Chinese Food Enzymes Markets
Beijing, China. – Buoyed by a fast growing processed foods industry and better health consciousness among the Chinese public, the Chinese food enzymes markets have witnessed appreciable growth in recent years. While this growth trend is expected to continue into the future, market participants are also likely to be challenged by increasing price pressures, which will demand constant innovation and marketing activities.
New analysis from Frost & Sullivan (http://www.foodandbeverage.frost.com), Strategic Analysis of Chinese Food Enzymes Markets, reveals that this market earned revenues of $180.0 million in 2006 and estimates this to reach $299.7 million in 2013.
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“Enzymes are fast replacing the chemical alternatives in food and industrial processing as they offers advantages that cannot be obtained by the use of traditional chemical treatments,” notes Frost & Sullivan Research Analyst Lief Chiang. “Higher product quality, biodegradability, lower manufacturing costs, less wastage, and reduced energy consumption are some of the main factors that make enzymes the preferred option over traditional chemical treatments. Besides, enzymes, being the derivatives of biological sources, are perceived as safer and healthier alternatives to chemicals.”
Food enzymes are also gaining importance due to improving health awareness levels among the Chinese public. The usage of chemical procedures in food processing is reducing gradually and enzymes are being used instead. Notably, in some high-fat food products, enzymes are used to bring down the cholesterol content. This trend has directly led to an increase in demand for industrial enzymes that are used as process aids for these products.
However, the dietary difference between Chinese and occidental people appears to be a major restraint for the growth of the market. For instance, in Europe and the United States, the predominant use of enzymes in the dairy industry is in cheese manufacturing, which accounts for approximately 95 percent of the total enzymes consumed in the dairy industry. The Chinese, on the other hand, seldom consume cheese.
“Additionally, there is increasing pricing pressure due to the consolidation trend being seen in some end-user sectors of the food enzymes market, such as dairy products, fruit processed, and beer,” says Chiang. “Consolidation has brought down the number of customers for the food enzymes market and forced enzyme suppliers to lower prices and stay competitive. Technological advances bringing better process economics are also contributing to a drop in prices.”
Going forward, manufacturers must continue to focus on not only improving the performance of existing products, but also on the development of novel enzymes for specific niche applications. Product development is likely to become a key factor in maintaining a competitive edge in the food enzymes market.
Strategic Analysis of Chinese Food Enzymes Markets is part of the Food and Beverage Ingredients Growth Partnership Service, which also includes research in the following: European Markets for Enzymes in Food Applications and U.S. Enzymes for Food Applications Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective, and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com.
Strategic Analysis of Chinese Food Enzymes Markets
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