Bromelain Market | Industry Insights, Trends, Outlook and Key Players
The
global Bromelain Market is expected to reach USD 59.2
million by 2025, growing at a CAGR of 8.7%, according to a new report by Grand
View Research, Inc. Rising expenditure in R&D to use bromelain to cure
diseases such as cancer & acquired immune deficiency syndrome (HIV AIDS) is
expected to have a positive impact on the market during forecast period.
Further key findings from the report suggest:
This
digestive enzyme is extracted from pineapple fruit & stem and is used in
numerous industries including healthcare, meat & seafood, dietary
supplements, cosmetics, bakery and beverage. Globally, meat & seafood
industry is found to be the largest end user industry for this market where its
main application is to improve tenderness of meat & seafood.
Further key findings from the report suggest:
- Meat & seafood was the
largest application segment, accounting for 56.8% of the global market
volume in 2016. Rising importance of functional ingredients in meat &
seafood industry for enhancing the properties of finished food products as
a result of technological innovation is expected to promote the use of
bromelain.
- Healthcare industry
accounted for 25.5% of global market share in 2016 and is expected to grow
at a CAGR of 9.2 %, by volume in between 2017-2022. As per World bank,
global healthcare industry is expected to witness a global GDP expenditure
of around 10.5% by 2020. Around USD 8.7 trillion is expected to be spent
in this industry every year till 2020. Emerging technologies in developed
nations and emergence of demand for the product in the developing nations
are the two factors which are expected to drive the market during the
forecast period.
- North America accounted
for 26.8% of the overall volume market share in 2016 and is expected to
maintain its position over the next eight years. Growth in meat &
seafood sector coupled with surge in R&D in healthcare sector are the
two major factors helping North America to maintain its position.
- Key industry participants
include Enzybel International SA, Great Food (Biochem) Co., Ltd, Hong Mao
Biochemicals Co., Ltd., Biozym Gesellschaft für Enzymtechnologie mbH,
Enzyme Technology (PTY) Ltd, Guangxi Nanning Javely Biological Products
Co., Ltd, and Nanning Doing-Higher Bio-Tech Co., Ltd.
- Advantages such as easy
procurement of raw material, low production cost and non-toxicity are
major reasons leading to increase its demand over other proteolytic
enzymes like actinidin from kiwifruit and ficin from figs.
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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