Market Overview
Papain is a proteolytic enzyme present in mountain papaya. It is used for the tenderization of meat. Papain is an active component of meat tenderizers and demand in the global market. It is also used in chemo-mechanical dental and as a tooth whitener in mint toothpaste. It is used to clean dead tissue in chronic wounds and cell dissociation in cell culture preparations. The end-user industries such as leather, cosmetics, tanning, optical, food & beverages, detergents, photographic, textile, and pharmaceutical sectors are rising the Papain Market demand.
The major factors driving the market’s demand are the increased health concern in the consumers for meat tenderizers and the increasing demand for natural enzymes.
The industrial market players highly invest in research and development activities, accelerating the market’s demand. The macroeconomic factors such as the rapid rate of urbanization, increasing population, and growing domestic income are driving the market’s growth.
Health awareness and the usage of natural products positively impact natural proteolytic enzymes like papain. The potential application in the food industry will increase the growth in the review period. Moreover, the pharmaceutical application is boosting the Papain Market growth due to the medicinal properties in treating parasitic worms, shingles symptoms, inflammation of the throat and pharynx, hay fever, runny nose, diarrhea, psoriasis, etc. Papain is used for preparing remedies for diseases like fever, ulcers, indigestion, and swelling.
The Papain Market will grow at a CAGR of 5.2 % in the forecast period.
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Market Segments
The Papain Market is segmented into form, application, and distribution channels.
The form segment is categorized into liquid, capsule, powder, and others. The powder segment occupies the largest market share.
The application segment of the Papain Market Growth is bifurcated into textile, food & beverage, pharmaceuticals, cosmetics, and others. The food and beverage segment are capturing the largest papain share due to its availability.
The distribution channel is segregated into store-based and non-store-based. Store-based has hypermarkets & supermarkets, convenience stores, specialty stores, and others. The non-store-based consists of e-commerce platforms. Store-based channels are dominating the papain industry.
Regional Analysis
According to the geographical analysis, the Papain Market covers prominent regions such as Europe, North America, Asia-Pacific, and the Rest of the World.
The North American region will occupy the largest market share in the forecast period for its rising awareness and usage of natural products. The natural product usage leads to the growth of proteolytic enzymes like papain in this region.
The Asia-Pacific region will witness significant growth in the growth period due to the robust growth of the pharmaceutical sector. The presence of emerging countries like India and China is accelerating the regional market of APAC. Other prominent regions around the world, such as the U.S, Germany, Denmark, Japan, and France, are considered major market importers.
Latin America and the Middle East, and African regions will show positive growth in the forecast period due to the industrial growth and demand for meat products.
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Industry News
In September 2012, Fenchem’s popular enterpriser started enzyme products for the coming FI Asia Indo, Fenlyase TM, to serve the food processing industry. This series involved lipase, papain, and transglutaminase in satisfying the rise in demands and the growing attention of the food processing industry.
What are Segments Covered Papain Market?
By Form, Application, Distribution Channel, and Region
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