The increased development in the meat & seafood and healthcare industries in developing as well we developed economies across the globe are among the major factors driving the growth of the Global Bromelain Market
Covid-19 Impact & Market Status
COVID-19 has the potential to impact the global economy in three ways: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on enterprises and financial markets.
Covid-19 outbreak has been affecting multiple businesses and industries leading to interrupted travel, lockdown, social distancing and the like. These have restricted normal functioning of the businesses and resulted in supply chain anomalies, lack of business co-ordination across vendors and the like.
Stem Bromelain Type Segment is accounted for Highest Revenue during the Prediction Period
The most common types of Bromelain are stem Bromelain and fruit Bromelain. When compared to the other type of Bromelains, stem Bromelain were the most valuable category in year 2020. The significant demand for stem Bromelain can be ascribed to their superior characteristics and wide range of applications in a variety of sectors. During the projected period, the market for stem Bromelain is predicted to grow considerably.
Food & Beverages Application Segment is Likely to Register Highest Revenue during the Forecast Period
Bromelain is used in the food and beverage and pharmaceutical sectors for a variety of procedures. Throughout the forecast period, each of these segments are estimated to occupy more than 85% of the worldwide Bromelain market share. Increasing Bromelain use in the bread, meat, and brewing industries is expected to drive the F&B segment's revenue growth throughout the assessment period.
Asia-Pacific Region to Dominate the Market during the Predicted Period
The Asia Pacific region had the uppermost revenue share of more than 25% in 2019 and is predicted to maintain its dominance during the forecast period, with the speediest CAGR. Product demand is expected to be fueled by India's, China's, and Japan's, good view on the meat and seafood and healthcare industries. Furthermore, throughout the projected period, the rising population in China and India favourable government laws aimed at attracting foreign direct investments, and public-private partnerships are expected to drive market expansion in the area. Over the projection period, energy-efficient technologies and R&D endeavours to manufacture high-quality goods are likely to provide abundant opportunity for industry participants. In the near future, rising need for natural enzymes to manufacture pharmaceuticals is likely to boost product demand.
Furthermore, the market in developed areas such as Europe and North America is predicted to accelerate due to increased R&D spending to broaden the product application scope in the treatment of HIV, cancer, asthma, sprained ankles, IBD, tendonitis, and ACL tears.
The Bromelain enzyme, which is derived from the pineapple plant, has a wide range of uses in a variety of sectors. Bromelain is a protein digesting enzyme used in industry. Bromelain's proteolytic nature finds utility in the food and beverage business, where it is mostly employed as a meat tenderizer.
Bromelain is increasingly being used in dietary supplements due to its anti-inflammatory and immunity-boosting qualities. Bromelain can potentially be used as a feasible alternative to various energy and resource-intensive procedures in sectors like leather and paper manufacturing.
The global Bromelains market is projected to be around USD 70.6 million by 2028, at a CAGR of 7.5 % during the prediction period.
Food & beverages, pharmaceuticals applications are predicted to account for a major portion of Bromelains over the projection period. Traditional meat tenderization processes, such as marination, take a long period and need a substantial amount of resources. Because of its intrinsic ability to tenderise meat, the Bromelain enzyme aids in reducing post-process preparation time and lowering manufacturing costs. In the next years, this is expected to increase market demand for the enzyme and in turn propelling the Bromelains market.
Furthermore, technological advances and increasing investment by leading players in the target industry are expected to propel the worldwide Bromelains market forward throughout the forecast period. Increased end-use applications are another important aspect driving the target industry's growth.
Bromelain is a health supplement that is often used in Germany to alleviate inflammation and swollen of the nose and sinuses following an accident or surgery. Top cosmetics companies in Europe are also including Bromelain into new products, since Bromelain aids in the treatment of acne, wrinkles, and dry skin. It also helps with bruising and swelling after an injection.
The global Bromelains industry is very competitive and is anticipated to become even more so in the future years. However, the growing number of competitors is expected to boost overall market growth over the projection period. Hong Mao Biochemicals Co., Ltd. Enzybel International SA, Nanning Doing-Higher Bio-Tech Co., Ltd. Enzyme Technology (PTY) Ltd. Hangzhou Huajin Pharmaceutical Co., Ltd. Great Food Group of Companies, Shaanxi Guanjie Technology Co., Ltd.
Biozym Gesellschaft für Enzymtechnologie mbH, Enzyme Bioscience Pvt. Ltd. Cn Lab Nutrition, Guangxi Nanning Javely Biological Products Co., Ltd. Aumgene Biosciences, Arisun ChemPharm, Bio-gen Extracts Pvt. Ltd. Changsha Natureway Co., Ltd. and Mitushi Biopharma are some of the key competitors operating in the global Bromelain market.
Latest Innovations in the Global Bromelain Market: a Snapshot
- In year 2018 Enzybel Group and Phytozymes partners in a joint venture: Enzybel India. This promising company will position itself as a leader on the Indian and Asian market of papain, producing “out of nature” enzymes.
- In 2021, Enzybel join forces together with Planted to develop promising plant-based meat-substitutes. 100% out-of-nature, green processing, zero carbon footprint, and clean labeling by valorizing food waste into novel plant-based protein source for developing juicy, tasty, better textured, and nutritious meat-substitutes is aim.
This market research study was created by compiling data from primary and secondary sources. Secondary research was conducted using a variety of sources, including (but not limited to) SEC filings, company websites, technical journals, paid data sources, financial reports, and other industry publications. In addition, to acquire first-hand data, the research methodologies perform comprehensive primary research with important industry players. Industry specialists then examine and validate the data.
Bromelain Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 70.6 million|
|Growth Rate||CAGR of 7.5% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||Hong Mao Biochemicals Co., Ltd. Enzybel International SA, Nanning Doing-Higher Bio-Tech Co., Ltd. Enzyme Technology (PTY) Ltd. Hangzhou Huajin Pharmaceutical Co., Ltd. Great Food Group of Companies, Shaanxi Guanjie Technology Co., Ltd. Biozym Gesellschaft für Enzymtechnologie mbH, Enzyme Bioscience Pvt. Ltd. Cn Lab Nutrition, Guangxi Nanning Javely Biological Products Co., Ltd. Aumgene Biosciences, Arisun ChemPharm, Bio-gen Extracts Pvt. Ltd. Changsha Natureway Co., Ltd. and Mitushi Biopharma|
Key Segments of the Global Bromelain Market
Type Overview, 2018-2028 (USD Million)
- Stem Bromelain
- Fruit Bromelain
Application Overview, 2018-2028 (USD Million)
- Food & Beverages
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa