SAN FRANCISCO, January 9, 2018 /PRNewswire/ --
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.
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.
Browse full research report with TOC on "Bromelain Market Analysis By Application (Healthcare, Meat & Seafood, Dietary Supplements), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2014 - 2025" at: https://www.grandviewresearch.com/industry-analysis/bromelain-market
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.
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Grand View Research has segmented the bromelain market on the basis of application, and region:
- Bromelain Application Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
- Food & beverages
- Dietary Supplements
- Bromelain Regional Outlook (Volume, Tons; Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- North America
Read Our Blog By Grand View Research: https://www.grandviewresearch.com/blogs/food-and-beverages
About Grand View Research
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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