Global Bromelain Market Overview
The key driver impacting the bromelain market is the growing popularity of pineapple enzymes in skincare products. Bromelain has steadily come out as the best ingredient to enhance the quality of dull skin. Also, bromelain exfoliates the skin and provides antimicrobial benefits, which creates the demand from the growing skincare care sector globally. For instance, According to Cosmetic Executive Women, in 2019, the global cosmetics market was projected at $532 billion. The skincare sales climbed to $1.4 billion, with stable growth estimated for 2020. Bromelain is majorly utilized in skincare products to decrease acne, wrinkles and in treating dry skin. This is likely to create high demand for bromelain from the cosmetic sector. Moreover, constant and rapidly rising consumer demand for processed meat and ready-to-eat and ready-to-cook meat dishes contribute to the development of the bromelain market in the coming years. Whereas with regards to volume, the market was calculated XX Tons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global bromelain market size was valued at about USD 38 million in 2019 and is estimated to grow at a CAGR of around 7.5% during the forecast period 2021 to 2027.
The increasing demand for bromelain from the food & beverages sector is likely to augment the market demand in the forecast period. It is due to the growing consumer awareness related to the advantages of beneficial fruit-based enzymes such as bromelain. However, the harmful side effects of bromelain may hinder the market in the long run. Also, a lack of awareness regarding the benefits of bromelain negatively impacts market development. On the other hand, the current industry trends, such as the increasing need for natural cosmetic products and rising research and development in expanding the application scope in the healthcare industry, are expected to offer several beneficial market opportunities to key players.
The bromelain market is vast, with the existence of several local and global players. The key player such as Enzybel International SA, Hong Mao Biochemicals Co., Ltd, Great Food Group of Companies, Biozym Gesellschaft für Enzymtechnologie mbH, Arisun ChemPharm, Cn Lab Nutrition, Aumgene Biosciences, Hangzhou Huajin Pharmaceutical Co., Ltd., Changsha Natureway Co., Ltd, Nanning Doing-Higher Bio-Tech Co., Ltd, Bio-gen Extracts Pvt. Ltd, Enzyme Technology (PTY) Ltd, Shaanxi Guanjie Technology Co., Ltd, Mitushi Biopharma, and Enzyme Bioscience Pvt. Ltd is adopting numerous strategies to gain an aggressive edge over the market globally. The key players focus on intensifying the supply chain and commercializing services for pharmaceutical and medical supply manufacturers.
In this research report, the Bromelain market is segmented by application and region.
Analysis by Application:
By application, the report is segmented into the healthcare industry, meat & seafood industry, dietary supplements industry, and others. The meat & seafood segment dominates the application segment with the largest market share of 56% in 2020. It is due to the growing usage of bromelains to advance the softness of meat & seafood. Moreover, the rapidly growing meat and seafood industry and increasing demand for packaged food products with expanding population globally contribute to the growth of the meat & seafood segment in the forecast period.
Analysis by Region:
In the regional outlook of the global bromelain market, the Asia Pacific region dominates globally with the highest market share of 28% in the forecast period. It is due to the huge liking for meat & seafood with rapidly expanding healthcare sector and growing geriatric population across nations of Asia Pacific region such as China, India, Japan, Malaysia, and Indonesia Moreover, growing processed food industry and cosmetics industry in the region, contributes to the incredible market demand across the Asia Pacific.
Market Segmentation covered in the Report:
By Application
- Healthcare Industry
- Meat & Seafood industry
- Dietary Supplements Industry
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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