Global
Papain Market: Overview
Papain
is a natural cysteine proteolytic enzyme present in mountain papaya
(Vasconcellea cundinamarcensis) and papaya (Carica papaya). It is
native to Latin America and is also called as papaya proteinase I. It
is used to tenderize meat eaten as it breaks down tough meat fibers.
Papain is an active component in powder form for meat tenderizers and
has a huge demand in the global market. Papain also used in
chemo-mechanical dental caries removal gel known as Papacarie, as a
tooth whitener in mint sweets and toothpaste, to clean up dead tissue
in chronic wounds, as a component of many enzymatic debriding
preparations, and cell dissociation in cell culture preparations. The
end-use industries of the papain include leather, food &
beverages, detergents, cosmetic, tanning, optical, photographic,
textile, and pharmaceutical. The North America papain market accounts
for relatively high revenue share, followed by Western Europe papain
market over the forecast period, attributed to relatively strong
demand for papain and broad availability of raw material in the
regions.
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Global
Papain Market: Dynamics
Some
of the important factor fueling the growth of global papain market
include rising health concern among the consumers, high demand for
meat tenderizers, and increasing demand for natural enzymes. To
counter the same, papain market players are investing in research and
development and production of papain to meet the regulatory
specification with increasing demand. Some macroeconomic factors
making a positive impact on global papain market includes increasing
population, the rapid rate of urbanization, and growing domestic
income. The trend identified in the global papain market is mergers
and acquisitions between papain producers and papaya suppliers. The
company manufacturing papain products has a significant opportunity
in regions such as North America, Europe, and Asia Pacific,
attributed to high demand for natural enzymes and growing health
consciousness among a large number of population. Companies have a
significant opportunity in global papain market through collaboration
with raw material supplier i.e. papaya vendor and through backward
integration in the market as a raw material is a key factor for the
market.
Global
Papain Market: Segmentation
Global
papain market is segmented by end-use industry and by region. By
end-use industry, the global papain market is sub-segmented as food &
beverages, cosmetic, textile, pharmaceutical, other industries such
as detergents, tanning, optical, photographic, etc. Among these, the
pharmaceutical segment is expected to contribute to the significant
revenue share with a relatively high growth rate over the forecast
period in global papain market. A pharmaceutical segment follows food
& beverages segment with a relatively high growth rate concerning
both value and volume in the global papain market.
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Based
on the end-use industry, the global papain market is segmented into:
- Food & Beverages Industries
- Cosmetic Industries
- Textile Industries
- Pharmaceutical Industries
- Other Industries (detergents, tanning, optical, photographic, etc.)
Global
Papain Market: Regional Overview
By
geographies, the global papain market is segmented into seven regions
-- North America, Western Europe, Asia-Pacific except Japan, Eastern
Europe, Latin America, the Middle East & Africa, and Japan. Among
the regions, North America accounts for a relatively high share of
the global papain market in terms of value, owing to strong demand
for natural enzymes particularly in the U.S. Western Europe is
followed by North America in global papain market, attributed to high
demand for meat tenderizers across the region. Eastern Europe and
Japan also accounts for significant value share in the global papain
market. The Asia-Pacific is expected to register relatively high
growth rate in the global papain market over the forecast period,
owing to the robust growth of pharmaceutical industry due to rapidly
growing population across the region particularly in the countries
such as China and India. Latin America and Middle East Africa is
expected to have relatively high opportunity for papain market
players, attributed to the rapid rate of industrial growth and high
demand for meat products. Overall, the outlook for the global papain
market will have a positive growth over the forecast period.
Global
Papain Market: Key Players
Few
players of papain market include Senthil Papain and Food Products (P)
Ltd., FRUZYME BIO TECH INDIA PVT LTD, Shri Ganesh Industrial Enzymes,
Aumgene Biosciences, Shree Sai Agros, Parchem fine & specialty
chemicals, Ultra Bio-Logics Inc., LGM Pharma, Chemos GmbH,
Beckmann-Kenko GmbH, and AXO Industry SA.
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