New York, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The global pancreatin market is pegged at 2,996 tons in 2022 and is anticipated to reach 4,789 tons by 2032, expanding at a volume CAGR of 3.9%. The market has shown steady growth over the past years and the trend is expected to be the same through 2032.
Companies have increased their focus on offering enzymes for pharmaceutical and nutraceutical purposes based on the rising demand for highly nutritious food with premium quality. Rising demand for clean label ingredients is further increasing the usage of enzymes in functional food products, as enzymes are considered to be a natural ingredient that can elicit functional properties.
“There have been rapid advancements in research regarding pancreatin production with considerable traction to move from animal sources to microbiological sources,” says a Persistence Market Research Analyst.
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Key Takeaways from Market Study
- Demand for pancreatin in Latin America is expected to increase at a volume CAGR of 5.2% during the forecast period (2022-2032).
- South Asia and East Asia account for market value shares of 12.9% and 13.8%, respectively.
- Utilization of pancreatin in the pharmaceutical industry is anticipated to reach US$ 163.2 Mn by 2032.
- Based on source, sales of porcine-based pancreatin is expected to reach US$ 161.3 Mn by 2032.
- The European market is likely to expand at a volumetric CAGR of 4.1%.
Enzymes manufacturers are innovating their product offerings for different industrial applications, which further creates opportunities for pancreatin suppliers. Germany, the United Kingdom, India, China, and Thailand represent the most lucrative markets owing to the increasing demand for clean label and natural food ingredients Increasing R&D on the pancreatin front is being done to fulfill the demand for several types of functional food products.
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Competitive Landscape
Companies involved in pancreatin production are developing infrastructure to make the process more efficient. This is being done to obtain more products that are of high quality. Increasing focus on scaling up processes that can make the production better and cost-effective while catering to consumer demand is what most companies are focusing on.
- Sichuan Biosyn Pharmaceutical Co. Ltd. is manufacturing pancreatin for the treatment of digestive difficulties such as pancreatin hyposecretion. It is also utilized as a supplement in functional foods and supplements.
- Bioseutica, a manufacturer of high-quality proteins and enzymes, has designed specialty products made of lysozyme, avidin, pancreatin, and food and feed ingredients for antibiotic-free livestock such as aqua, poultry and swine.
- Fengchen Group Co. Ltd. provides chymotrypsin, trypsin, and pancreatin enzyme powder, which is useful in digestive disorders and is used by medicine manufacturers for treating bronchitis and by feed companies for feeding piglets, breeding pigs, poultry, and fish.
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