Bromelain Market Overview
The global bromelain market is expected to exhibit a strong 4.39% CAGR over the forecast period from 2020 to 2027, according to the latest research study from Market Research Future (MRFR). The global bromelain market is mainly driven by the wide array of end-use industries it is used in, as many major applications of bromelain are expected to grow in volume over the forecast period, thus driving the demand for bromelain. The report presents a detailed study of the various drivers and restraints affecting the global bromelain market, along with an economic analysis of the leading drivers and restraints. Macroeconomic and microeconomic factors affecting the global bromelain market are studied in detail in the report.
Bromelain is an enzyme extracted from the stem and fruit of pineapples and is widely used in the pharmaceutical, dietary supplement, food and beverage, and other industries. Bromelain has numerous applications in the pharmaceutical industry, where research into discovering potential new applications of bromelain has a strong pipeline. Bromelain is even considered for use in anti-cancer medication, with the enzyme exhibiting strong anti-metastasis properties. This has further increased the commercial scope for bromelain and is likely to remain a strong driver for the global bromelain market over the forecast period. The pharmaceutical industry is likely to remain a commercially lucrative and important end use segment for the global bromelain market forecast.
Another key trend in the global bromelain industry is likely to be the development of more efficient extraction and purification processes. The manufacturing of bromelain can be a difficult task, with efficient extraction and purification from other ingredients remaining a key challenge. This is likely to be on the agenda of several key players in the global bromelain market report in the coming years as they seek to increase industrial production and purification through commercially viable means.
Competitive Analysis:
Leading players in the global bromelain market include Fooding Group Ltd., Hong Mao Biochemicals Co. Ltd., Krishna Enzytech Pvt. Ltd., Food State Company, Enzybel Group, Advanced Enzyme Technologies, Enzyme Development Corporation, Nutriteck, Changsha Natureway Co. Ltd., and Creative Enzymes.
Segmentation:
The global bromelain market is segmented on the basis of type, source, application, and region.
By type, the bromelain market can be segmented into 1,200 GDU/g, 2,000 GDU/g, 2,500 GDU/g, and others.
The two main sources for the extraction of bromelain are stems and fruits. The stem segment is the dominant segment by source, and held an 88% in the global bromelain market in 2017. The dominance of the stems segment is mainly due to the commercial importance of pineapple fruits, which are highly popular around the world and thus can’t be spared for other industrial applications.
By application, the market is segmented into dietary supplements, food and beverages, healthcare, and others. The dietary supplements segment holds the largest share in the global bromelain market and is likely to remain the leading revenue generator over the forecast period.
Regional Analysis:
North America is the largest regional segment in the global bromelain market and is likely to retain its position throughout the forecast period from 2018 to 2025. North America held a dominant 35.5% bromelain market share in 2017. The growing meat industry in North America is a major driver for the bromelain market, as bromelain is widely used to tenderise meat in the meat industry. The dietary supplement industry is also growing in North American markets such as the U.S. and is likely to remain a key end-use avenue for the bromelain market in the region. The growing pharmaceutical industry in North America is also likely to be a major driver for the global bromelain market over the forecast period.
The North America market for bromelain is followed by Europe, Asia Pacific, and the rest of the world, in that order.
Industry News
In November 2019, Italian researchers reported that a combination of Boswellia serrata and bromelain may be a vital component in improving the quality of life of osteoarthritis sufferers. This could open up new doors for the bromelain market in the pharmaceutical industry.
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