Papain Market : COVID19 Impact Analysis and Forecast Outlook by 2027
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.
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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.
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.
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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.