Transglutaminase market expected to reach $1.21 billion by 2034, with strong growth potential

From GlobeNewswire: 2024-12-19 10:46:00

A new report by Fact.MR predicts the global transglutaminase market to reach US$593.8 million in 2024, with a 7.4% CAGR from 2024 to 2034. The enzyme, also known as “meat glue,” is popular in the food industry for its protein-crosslinking abilities, improving product quality, shelf life, and reducing food waste.

The market is expected to grow to US$1.21 billion by 2034, with South Korea expanding at an 8.2% CAGR. Transglutaminase is gaining traction in high-growth countries due to its affordability and clean label compatibility. Manufacturers are innovating with this enzyme to create new plant-based products and enhance existing ones.

Key players in the transglutaminase market include BDF Ingredients, Creative Enzymes, and Ajinomoto Co., Inc. These companies are focusing on organic production, sustainability, and customization to meet the demand for clean-label products. They also provide formulation assistance and technical support to build long-term partnerships with food companies.

Global demand for meat substitutes is projected to grow to US$13 billion by the end of 2022. Processed meat consumption is expected to increase steadily, reaching US$519.8 billion by 2033. The plant-based fish market is estimated to surge to US$2.19 billion by 2033, with a CAGR of 28.1%. The plant protein ingredient market is anticipated to reach US$28.97 billion by 2034, with a 7.4% CAGR.

Fact.MR offers comprehensive market analysis and insights for the food and beverage industry, helping clients make informed decisions. With a global presence and experienced analysts, Fact.MR provides actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. Contact them for customized research solutions and targeted market analysis.



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