Overview
The global bromelain market will grow at a CAGR of 4.39% during the forecast period 2020 to 2027. The market for bromelain is set to reach US$1,154.4 million by 2027. As per market analysts, the global market is anticipated to witness growth owing to the factors such as growing awareness about benefits of bromelain as well as extensive application in treating cardiovascular ailments. However, the market will face challenges and restraints due to concerns regarding high dosage of bromelain and concerns regarding side effects on health during the forecast period 2020 to 2027.
The increasing awareness about the health benefits of bromelain in the market will support the growth. As per market analysts, the market-based companies will face certain challenges during the forecast period 2020 to 2027. The market research report provides in-depth analysis of the application, type, and source segments. The market research report presents factors such as the overdose of bromelain that could slow down the market's growth.
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Market Segmentation
The market has been segmented into application, type, and source. Based on the segment which is application, the market is categorized on the basis of food & beverages, healthcare, dietary supplements, and others. The global market for bromelain is further segmented based on type into 2,000 GDU/g,1200 GDU/g, 500 GDU/g, and others. Furthermore, the market, on the basis of source, is segmented into stem and fruits.
The market report offers comprehensive study of the market segments including application, type, and source. The analysts have also studied the bromelain market's spread across the regional markets across many of the market’s segments at country levels. The application, type, and source segments spread across the market along with the subsegments are studied. The global market for bromelain is spread across various product and service-based segments. The market research report highlights these key segments and offers forecasts based on primary and secondary data. The global market research report presents key company profiles of organizations active across the market.
Regional Overview
Side effects on human health and other concerns may hinder the bromelain market growth. The market research report suggests that companies in the market could be supported by applications across high blood pressure and other areas as well as the demand for the enzyme during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. As per bromelain market analysts, the bromelain market is set to witness tremendous growth across application, type, and source segments. The global bromelain market’s North American region covers markets across the United States, Mexico, Canada, and others. Businesses present in the market are also profiled and their strategies have been presented in detail in the market research report.
The market across the European region covers Italy, France, Germany, and the United Kingdom. Furthermore, the market research report provides details about the APAC region covering bromelain markets from China, India, Australia, Japan, and others. The market is also active across several other parts of the world. The market report covers all these key regions including the Middle East, Africa, Brazil, and others active in the global market.
Competitive Landscape
Bromelain has seen tremendous growth, due to the growing demand from the food and beverage sector and demand from the cosmetic sector. However, lack of awareness about bromelain and the lack of awareness regarding the benefits would challenge the companies active in the market. Furthermore, companies using growth strategies to stay ahead in the global market are expected to help the market during the forecast period 2020 to 2027. As the market report suggests that the market will register a CAGR of 4.39% and reach a US$1,154.4 million by 2027, the market report highlights key areas market-based companies need to focus on. The market research report projects a long-term growth till 2027. Based on market’s analysis on the basis of SWOT and Porters’ Five Force Model, the market will rise during the forecast period 2020 to 2027, however the companies need to move ahead with caution. The bromelain market research report highlights such key areas.
Industry News
Vericel Corporation recently confirmed that it has sent a Biologics License Application (BLA) to the US Food and Drug Administration for NexoBrid to be approved in individuals with extreme partial-thickness and/or full-thickness chemical burns. NexoBrid is licenced in the European Union and other foreign markets, and it is classified as an abandoned biologic in the United States, the European Union, as well as other countries. NexoBrid's licensing rights in North America are licenced exclusively to Vericel.
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