Bromelain Market: Introduction
According to the report, the bromelain market was valued at US$ 720 Mn in 2019. It is projected to expand at a CAGR of 4.5% from 2024 to 2030. Intense research on the medical enzyme technology has been providing several approaches that facilitate their practical applications. Among these, newer technological developments in immobilized enzymes offer a wider and more economical exploitation of enzymes in the industry. Development of improved extraction and filtration processes can improve the quality and purity of bromelain. Improved grades of bromelain are expected to enhance its efficacy.
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The global bromelain market is expanding, owing to an increase in applications of bromelain. The increase in usage of bromelain as an inexpensive alternative to expensive anti-inflammatory drugs is fueling the demand for bromelain. This represents new business development opportunities.
North America dominated the global bromelain market in 2019. The trend is anticipated to continue during the forecast period. Strategies adopted by key players, early adoption of advanced therapeutics, and strong focus of market players to invest in research and development drive the bromelain market in the region. Asia Pacific accounted for a significant share of the global bromelain market in 2019. The market in the region is likely to expand at a strong CAGR during the forecast period. Rise in demand for enzymes in textile processing, increase in health awareness among people about supplement usage, and surge in geriatric population are key factors that are likely to fuel the market in the region.
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Increase in Usage of Clean Label Ingredients in Food & Beverages Industry to Drive Bromelain Market
Bromelain is derived from pineapple plant from the fruit and stem. Bromelain is extensively utilized in various industries, including food & beverages, healthcare & pharmaceuticals, and cosmetics. At the industrial level, bromelain is employed to digest proteins. The proteolytic nature of bromelain is used in the food & beverages industry, where it is widely utilized as a meat tenderizer. Bromelain has added benefits such as immunity boosting and anti-inflammation properties. It is being increasingly used in dietary supplements. The demand for bromelain is high in the food & beverages industry to tenderize red meat. This is expected to drive the market.
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North America to Dominate Bromelain Market
In terms of region, the global bromelain market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global bromelain market in 2019, followed by Europe. North America accounted for a major share of the global bromelain market in 2019. Well-established healthcare infrastructure and surge in use of bromelain are key factors anticipated to drive the bromelain market in the region.
The bromelain market in Asia Pacific is expected to expand at a notable CAGR during the forecast period. Increase in prevalence of various chronic diseases and improvement in healthcare infrastructure are likely to augment the market.
Competition Landscape
The global bromelain market is fragmented in terms of number of players. Key players in the global bromelain market include Enzybel International S.A, Hong Mao Biochemicals Co., Ltd., Nanning Pangbo Bioengineering Co., Ltd., Guangxi Nanning Javely Biological Products Co., Ltd., Challenge Bioproducts Co., Ltd., Enzyme Development Corporation, Xena Bio Herbals Pvt. ltd., Enzyme Technology (PTY) Ltd., Advanced Enzyme Technologies Limited, and Bio-gen Extracts Pvt. Ltd.
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