The Worldwide Bromelain Industry is Projected to Reach $45 Million by 2030 at a 7.1% CAGR - ResearchAndMarkets.com
10 Nov 2022
DUBLIN--(BUSINESS WIRE)--The "Global Bromelain Market Size, Share & Trends Analysis Report by Application (Healthcare, Meat & Seafood, Dietary Supplements), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
'Global Bromelain Market Size, Share & Trends Analysis Report by Application (Healthcare, Meat & Seafood, Dietary Supplements), by Region, and Segment Forecasts, 2022-2030'
The global bromelain market size is projected to reach USD 45.09 million by 2030. It is expected to register a CAGR of 7.1% from 2022 to 2030.
The market growth is majorly driven by the growing inclusion of the product in the healthcare, pharmaceutical, and dietary supplements industries due to its numerous health benefits.
Bromelain is a naturally occurring enzyme found in pineapple and the stem of pineapple. It is a type of proteolytic enzyme. The enzyme has numerous health benefits and has been used in indigenous medicine by tropical tribes. It has found its place in modern medicine too. It has been found as a very effective anti-inflammatory agent against allergies, one among its numerous benefits.
In the cosmetic industry, the product has found its place as a skin whitener and exfoliator. Its organic source makes it desirable and highly demanded in the contemporary world. Bromelain has no side effects and it has also been found to help the fast recovery of burn wounds and remove dead skin cells from wounds.
Another prominent application of bromelain is found in the meat and seafood industry. The increase in the consumption of meat and seafood globally has consequently increased the demand as it is used as a tenderizing agent as the enzyme present in bromelain hydrolyzes the proteins of the tough meat making it tender and pleasurable to eat.
Europe emerged as the second-largest market in 2021. The growth is attributed to the high consumption of meat and seafood and the increased R&D activities by the key companies in the region. Although the major production of bromelain takes place in tropical countries such as Thailand and the Philippines in Asia Pacific, most of the research, development, and product enhancement activities take place in Europe and North America. This makes them major contributors to revenue in the global market.
Bromelain Market Report Highlights
The dietary supplement application segment is anticipated to display profligate growth with a CAGR of 7.4%, in terms of revenue, from 2022 to 2030. This is attributed to increasing awareness among the people about nutrition supplements and self-care and also to increasing purchasing power of the people.
The healthcare application segment is also expected to showcase a CAGR of 7.3% in terms of revenue, from 2022 to 2030. This is owing to the utilization of bromelain in numerous treatment medicines such as for cancer, rheumatoid arthritis, and HIV. Bromelain has no or minimal side effects due to its natural roots, which contributes to the growth of the segment.
The Asia Pacific region is estimated to have an exponential CAGR of 7.9%, in terms of revenue, from 2022 to 2030 as the region is a major supplier of bromelain. The increased purchasing power of the people due to economic development is also contributing to the growth of the regional market.
The Central & South America region is anticipated to witness a rapid CAGR of 7.5%, in terms of revenue, from 2020 to 2030, owing to the presence of untapped market opportunities and increasing purchasing power of the people due to the development of economies in the region.
Key participants dominating the industry are Hong Mao Biochemicals Co., Ltd, Enzybel International SA, and Great Food Group of Companies.
Market Dynamics
Growth in The healthcare industry
Growth in The personal care segment
Growth in the meat sector
Restraints
Side effects caused by bromelain consumption
Use of artificial/synthetic enzymes
Companies Mentioned
Enzybel International SA
Great Food Group of Companies
Nanning Pangbo Biological Engineering Co., Ltd.
Guangxi Nanning Javely Biological Products Co. Ltd.
Nanning Doing Higher Bio-Tech Co. Ltd.
Changsha Natureway Co., Ltd.
Biozym Gesellschaft fur Enzymtechnologic mbH
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