Papain Market Research Future Insights
The global Papain market is expected to register a CAGR of ~ 5.90 % from 2022 to 2032 and hold a value of over ~USD 0.41 billion by 2032.
The papain market is growing due to its health benefits. Papain is a naturally occurring proteolytic enzyme, and it is being used more and more in place of chemically derived proteolytic enzymes. In addition, papain is also used in pharmaceuticals, in a gel called Papacarie. This gel is used for various purposes, including tooth whitening, cleaning chronic wounds, and dissolving cells in cell culture preparations. The food & beverage and pharmaceuticals sectors are two of the main industries that consume papain.
The papain market in Canada is experiencing steady growth, driven by rising demand in the food, pharmaceutical, and cosmetics industries. Papain, an enzyme derived from papaya, is valued for its ability to break down proteins, making it a popular ingredient in meat tenderizers, digestive aids, and skincare products. The growing consumer preference for natural and organic products is boosting the market, as papain is often favored over synthetic enzymes. The food industry, particularly in meat processing and brewing, sees significant use of papain. Additionally, the health benefits of papain, such as its anti-inflammatory and digestive properties, are increasing its popularity in the nutraceuticals sector. The presence of key market players and extensive R&D activities aimed at developing new applications for papain are also contributing to market growth. However, challenges such as regulatory hurdles and the high cost of raw materials may impact market expansion. Overall, the Canada papain market is poised for continued growth, supported by advancements in extraction techniques and increasing application diversity.
However, due to the recent production stoppages and disruptions in the supply chain, the demand for papain has declined. Additionally, the manufacturing industries of textile & detergent, personal care & cosmetics are completely closed due to the lockdown, further reducing the demand for papain. Animal feed industries are also reducing their production, which also contributes to the decline in the papain market.
Key Players
Some of the key market players are Senthil Papain and Food Products Pvt. Ltd (India), Fruzyme Bio-Tech India Pvt Ltd (India), Shri Ganesh Industrial Enzymes (India), Aumgene Biosciences (India), Enzybel International (Belgium), Mitsubishi Kagaku Media (Japan), Ultra Bio-Logics Inc. (Canada).
Market Segmentation
The global Papain market has been segmented into form, application, and distribution channels.
Based on form, the market has been segmented into liquid, capsule, powder, and others. The powder segment holds the largest market share due to the less processing cost and wide range of product availability.
Based on application, the market has been segmented into textile, food & beverage, pharmaceuticals, cosmetics & others. Among these applications, the food & beverage segment, specifically the meat industry, is responsible for the largest share of the papain industry due to papain's easy availability. This increases the demand for naturally derived proteolytic enzymes like papain for meat tenderization in meat products.
Based on distribution channels, the market has been segmented into store-based and non-store-based. Store-based channels are the primary method of selling papain products. This is advantageous for shoppers because it provides a one-stop experience that displays all products, offers discounts and festival offers, etc.
Glycinates Market Research Report - Forecast till 2027
Medicinal Mushroom Market Research Report - Forecast to 2030
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
