Bromelain Market: Asia Pacific Region Is Estimated To Have An Exponential CAGR Of 7.9%
Bromelain Industry Overview
The global bromelain market size was estimated at USD 24.24 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030. Bromelain is utilized in diverse industries such as healthcare, meat & seafood, and dietary supplements. Growing inclusion in the healthcare and dietary supplements segments is anticipated to drive the demand owing to rising R&D activities. Bromelain has numerous health benefits which are majorly responsible for its high demand in the healthcare and dietary supplements segments. This factor is expected to further fuel the growth of the market.
The U.S. is one of the largest consumers of bromelain in the world. In 2021, it contributed 91.12% of the revenue share in North America. Being a developed country, the U.S. has been a key consumer for a time. Companies based in the U.S. are highly involved in R&D and product enhancement.
The dietary supplements segment contributes a maximum of 7% share of the global revenue. This is due to high self-awareness among the people of the country and the high purchasing power of the people. The people in the U.S. are educated and know the importance of dietary supplements in the maintenance of good health, which attributes to the high demand for the product as a dietary supplement.
Gather more insights about the market drivers, restraints and growth of the Global Bromelain Market
The healthcare application segment is a major end-use industry in the U.S. market, due to high R&D activities taking place in the country, especially product enhancement of bromelain and making it more effective for the treatment of autoimmune disorders. The healthcare industry is greatly involved in high-value research and development projects for bromelain as they anticipate to find more effective methods to utilize the product.
In the healthcare industry, it is used as an anti-inflammatory agent. It has also been found effective for certain stomach infections and helps to reduce swelling. The product is used as over the counter treatment for burns as it helps in speedy recovery of the burn both as a cream applied directly and as a supplement nutrient. It has also been found useful in treatments of cancer, rheumatoid arthritis, HIV, and asthma among others. These benefits of the enzymes make it desirable and are responsible for its high demand globally in the healthcare, pharmaceutical, and dietary supplements industries.
The global bromelain market is very competitive with a presence very limited number of players. The market players majorly have their manufacturing units based in tropical regions around the globe as pineapple, which is the primary source of bromelain, is a tropical plant. So, to ensure good yield, quality, and uninterrupted supply of raw materials most companies have their manufacturing unit in the tropical countries such as Thailand and the Philippines.
Although the research and development units of the companies which require the utilization of high-end technology are located in developed countries with sophisticated equipment and human resource availability such as the U.S. and Germany. As these countries are technologically advanced and can support such product enhancement activities with their advanced infrastructure.
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Bromelain Market Segmentation
Grand View Research, Inc. has segmented the global bromelain market based on application and region:
Bromelain Application Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2030)
- Healthcare
- Meat & Seafood
- Dietary Supplements
- Others
Bromelain Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Key Companies profiled:
Some prominent players in the global bromelain market include:
- Hong Mao Biochemicals Co., Ltd.
- Enzybel International SA
- Great Food Group of Companies
- Enzyme Technologies
- Guangxi Nanning Javely Biological Products Co. Ltd.
- Nanning Pangbo Biological Engineering Co., Ltd.
- Nanning Doing Higher Bio-Tech Co. Ltd.
- Changsha Natureway Co., Ltd.
- Biozym Gesellschaft fur Enzymtechnologic mbH
- Ursapharm Arzneimitted GmbH
Order a free sample PDF of the Bromelain Market Intelligence Study, published by Grand View Research.
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