Introduction
Bromelain is an enzyme extract derived from the stems of pineapples, although it exists in all parts of a fresh pineapple. The extract has a history of folk medicine use. As an ingredient, it has various applications such as in cosmetics, as a topical medication, and even as a meat tenderizer.
Various advanced innovations and technologies have improved the industrial grades and quality of bromelain significantly. Purification strategies undertaken by manufacturers coupled with steps taken for preserving the quality from chemical industrialization are likely to increase the bromelain market.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The Global bromelain market is expected to grow to $956.60 million by 2025.
Growth momentum is expected to accelerate during the forecast period with 5.91% CAGR.
With added benefits such as anti-inflammation and immunity boosting properties, it finds its applications in various end user industries which are contributing to the market growth.
APAC is a prominent regional market for bromelain owing to its increasing demand from China, India, Japan, Malaysia, and Indonesia.
Key Trends
Increasing awareness of people regarding several health benefits of bromelain may boost the market growth.
Low manufacturing cost and cheap labour will propel the market growth.
the increasing usage of bromelain in skin care products owing to the many benefits it offers is anticipated to create opportunities in coming years.
Key Market Players
Some of the key players in the market are Enzybel International, Enzyme Technology (PTY), Great Food Group of Companies, Hong Mao Biochemicals, Nanning Doing-Higher Bio-Tech, Biozym Gesellschaft für Enzymtechnologie.
The key players are dominating the market by adopting modern and environmentally safe technologies to customize the product, enhance its properties, and differentiate the final product from its competitors.
Companies are also adopting collaborative business strategy to provide highly regarded products to consumers, and to expand their regional presences.
Growth Drivers and Challenges
Development of global pharmaceutical industry, growing number of biotechnology R&D and development in green chemistry and enzyme engineering are anticipated to drive the global bromelain market.
Rise in demand for biological catalysts in food and beverage industry is driving the market.
Lack of awareness about the benefits of bromelain in emerging economies is one factor expected to obstruct the market growth
Harmful side effects of bromelain can restrain the growth of the market in the forecast period