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.

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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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