Latin America Lipase Market

Latin America Lipase Market Growth and Forecast (2023 - 2028):

Latin America Lipase Market was worth USD 62.27 million in 2022 and is expected to grow at a CAGR of 7.9%, to reach USD 91.08 million by 2028.

Market Overview:

Lipase is an enzyme produced by pancreas which catalyzes biochemical reactions in which hydrolysis of fats take place. It also hydrolyzes ester bonds in triglycerides to form mono glycerides and free fatty acids and also helps in formation of fatty acids. Lipases are also involved in inflammation and cell signaling.

Absence or inadequacy of lipase in body results in high cholesterol, high risk towards diabetes, decreased cell permeability, muscle spasms and high levels of triglycerides in the body. Lipases are used in industries for yogurt and cheese fermentation. Recombinant lipase enzymes are being used in applications such as laundry detergents, baking and as biocatalysts in converting vegetable oil into fuel.

Drivers and Restraints:

Increase in pancreatic disorders and number of patients undergoing pancreatic enzyme replacement therapy, use of lipases in cosmetics industry, changing food habits and increase in consumption of dairy products are driving the lipase market. Use of lipase in food and beverages industry as flavoring agent and to increase shelf life of food products is also expected to drive the market. Uncertainties in patent protection laws are restraining the market growth.

Latin America Lipase Market Segmentation Analysis:

The lipase market is segmented on the basis of source, application, functions and region. Based on source of lipase, the market is segmented into microbial lipases, animal lipases and plant lipases. Microbial lipases produced from bacteria and yeast account for the largest market share as they are most preferred in enzymes industry due to the low cost and high effectiveness compared to that of plants and animals. Based on applications, the market is segmented into Animal Feed, Dairy, Bakery, Confectionery and Others. Animal feed application leads the market in this segment due to increase in livestock production and increasing meat consumption. Dairy products applications are the fastest growing segment due to the changing eating habits and rise in disposable incomes of people. Based on functions the market is segmented into Frozen Food and Beverage Additives and Food and Beverage Texturants.

Region Analysis:

Geographically the Latin America Lipase Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Due to increase in eating habits of people and increase in demand for processed bakery foods and animal feed, Latin America is the fastest growing market for lipase.

Key Players in the Market:

Major Key Players in the Latin America Lipase Market are

• E. I. Du Pont De Nemours and Company
• Associated British Foods PLC
• Amano Enzymes Inc
• Novozymes A/S
• Advanced Enzymes
• Enzyme Development Corporation
• Renco New Zealand
• Koninklijke DSM N.V
• Chr. Hansen Holdings A/S
• Clerici-Sacco Group