According to latest report, the bromelain market reached value at US$ 725 Mn in 2020 projected to expand US$ 1 billion by 2030, growing at a CAGR of 4.4% from 2021 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.
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.
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.
Demand for Bromelain to Remain Steady amid COVID-19 Pandemic
The onset of the COVID-19 pandemic is anticipated to have a moderate impact on the overall growth of the global bromelain market. While the demand from the cosmetic industry could witness a slight decline due to stringent lockdown measures and closure of the retail sector, the food & beverages sector is expected to provide sizeable growth opportunities, as bromelain is largely used to tenderize red meat. Market players are projected to focus on research and development activities and address the challenges across the supply chain to gain a competitive edge.
Increasing Popularity of Pineapple Enzyme Skincare Products to Fuel Market Growth
The young population around the world is increasingly focusing on utilizing new skincare products to improve the quality of their skin. Several brands in the skincare sector such as Too Faced, Glow Recipe, Marc Jacobs, etc. are focusing on the launch of pineapple enzyme-based skincare products that include bromelain. Hence, bromelain has gradually emerged as a go-to ingredient to improve the quality of dull skin. Moreover, as bromelain exfoliates the skin and offers antimicrobial benefits, the demand from the skincare care sector is on the rise.
While the skincare sector is expected to provide a safe haven for market growth to the players involved in the current bromelain market landscape, a number of players are also expected to launch new bromelain ingredients. For instance, in October 2020, Bromeyal announced the launch of a proprietary bromelain ingredient that offers a range of health benefits.
In terms of source, the global bromelain market has been classified into stem and fruit. Pineapple is the primary source of bromelain protein-digesting enzyme mixture. It can be derived from fruit, stem, and juice of pineapple. Pineapple stem is a highly common commercial source of bromelain. This is anticipated to drive the stem segment during the forecast period.
Based on application, the global bromelain market has been segregated into food & beverages, healthcare & pharmaceuticals, cosmetics, and other industries. Bromelain is largely utilized to improve the tenderness of meat. Meat consumption is expected to increase over the next few years, which, in turn, is likely to drive the segment during the forecast period.
In terms of region, the North America dominated the global bromelain market in 2020. 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 2020. 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.
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.
This report focuses on bromelain market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall bromelain market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global bromelain market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global bromelain market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the bromelain market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of bromelain are as follows:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global bromelain market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global bromelain market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global bromelain market.
The study objectives of this report are: