Market Definition: —
Papain is a proteolytic enzyme derived from papaya. It is capable of breaking down tough protein, short chain peptides, amino acid esters and amide links fibers which help it garner heightened demand from the food & beverage, leather, and textile industry.
Market Scenario and Key Restraints:
Papain is largely used as a meat tenderizer and in other meat softening purpose. Rising health consciousness among consumers regarding the consumption of chemical products has reflected positively on the growth of the global papain market. Due to a high inclination towards clean label products, natural meat tenderizers are being increasingly preferred instead of chemicals. The global papain market is anticipated to reflect positive growth trend over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in a minutely analyzed report. Papain is also found to strengthen the body, maintain healthy body platelets, reduce inflammation, and aid in digestion due to which it is used in various oral enzyme combination.
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The cosmetic industry makes use of papain since papain presents antifungal, antibacterial, and anti-inflammatory properties. Growing demand for natural ingredients in cosmetics also generates high demand for papain and consequently fosters market growth. Papain finds application in the medical field too. It is used as a debris-removing agent as it does not have any harmful effect on sound tissues. It is also used for chemomechanical dental caries removal and biochemical excavation procedures for dentin. Papaya is found in abundance throughout the year which acts as a plus for the growth of the global papain market. Conversely, availability of chemically synthesized proteolytic enzymes or alternatives is expected to be bottlenecks for the growth of the global papain market.
Ultra Bio-Logics Inc. (Canada), Fruzyme Bio Tech India Pvt. Ltd (India), Senthil Papain and Food Products Pvt. Ltd (India), Shri Ganesh Industrial Enzymes (India), Aumgene Biosciences (India), Enzybel International (Belgium), and Mitsubishi Kagaku Media (Japan) are the key players in the global papain market.
Latest Industry Updates:
In August 2018, ENZYBEL GROUP, developer of plant-derived enzymes announced a partnership with PHYTOZYMES ENTERPRISES. Through the collaboration, the company aims to position itself as a leader on the papain market.
The Global Papain Market has been segmented based on form, application, and distribution channel.
By form, the global papain market has been segmented based on powder, liquid, capsule, and others. Form-wise, the powder segment is expected to lead the market owing to low processing cost and applicability across a wide range of products.
By application, the global papain market has been segmented into food & beverage, textile, cosmetic, pharmaceutical & others.
The food & beverage segment is leading the market.
By distribution channel, the global papain market has been segmented into store-based and non-store based.
The store-based segment has been further segmented into supermarkets/hypermarkets, specialty retailers, convenience stores, and others. The non-store based segment comprises e-commerce. Consumers most prefer the store-based distribution channel since they provide a one-stop shopping experience to the consumers.
North America, Europe, Asia Pacific, and Rest of the World (RoW) are the key markets for papain. North America is the largest market for papain due to high consumer awareness regarding the benefits of papain along with the demographic shift towards the use of natural products are significant growth drivers in North America.
APAC is expected to showcase substantial growth over the forecast period due to the massive growth of the pharmaceutical industry in the region along with growing awareness towards the use of clean label products in the economies of China, India, and Australia.
The RoW market possesses considerable opportunity for the growth of the papain market owing to the high demand for meat products.
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Name: Abhishek Sawant
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