Papain Market Analysis

Global Papain Market Overview

Papain Market Size was valued at USD 0.26 Billion in 2023. The Papain market industry is projected to grow from USD 0.27 Billion in 2024 to USD 0.41 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.10% during the forecast period (2024 - 2032). The primary market drivers boosting market growth are the growing population, rising domestic income, and urbanisation.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Papain Market Trends

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  Growing health awareness is driving the market growth

  
  

Market CAGR for papain is being driven by rising health awareness. The number of health-conscious consumers has grown exponentially in recent years. Consumers have become aware of the papain enzyme, which strongly resists redness and irritation. Climate change, stressful work schedules, and hurried lifestyles contribute to increased health-related disorders among people. Consumers want healthful food products that satisfy their hunger while still being nutritious. Because of its health-promoting ingredients, papain is gaining appeal among consumers. Nowadays, consumers are very aware of the components used in food and beverage items and may learn about the advantages of ingredients with a single click. As a result, makers of food and beverage items are looking for healthy and natural ingredients with the greatest health advantages.

These reasons are projected to drive the worldwide papain market forward.  Furthermore, papain has numerous applications in the textile, personal care, and cosmetics industries, likely generating significant demand for papain during the papain market forecast period. Papain aids in the absorption of quercetin, a useful chemical. Skin disease costs the United States healthcare system $75 billion in medical, preventative, and non-prescription medicine costs. As a result, prominent players are attempting to innovate to expand their papain product lines. Papain contains antioxidants and important nutrients such as vitamins A and C. As an antioxidant, papain contains chemicals that may protect the body from cellular damage caused by free radicals. Papaya juice contains chemicals that effectively scavenge or neutralize extremely reactive hydroxyl (OH-) free radicals and super-oxides. Papain contains antioxidants comparable to Vitamins E and C.

Papain is used worldwide in everything from food and beverages to medications, cosmetics, textiles, and animal feeds. By breaking down proteins, these proteolytic enzymes produce smaller fragments, peptides, and amino acids. The benefits of papain have long been recognized, and papain-rich products have been utilized to improve texture and quality. The papain industry has grown significantly due to increased consumer interest in health supplements. Papain is a well-known enzyme with numerous applications in the animal feed industry, where it contributes to greater digestibility and nutrient-rich feed. Due to farmers' increasing awareness of animal nutrition, the worldwide papain market is projected to see significant demand from the animal feed sector. The role of papain has positioned the business, owing to its therapeutic capabilities, which aid in repairing digestive problems, promoting antioxidant activity, and aiding in the body's immune response. Thus, driving the Papain market revenue.

Papain Market Segment Insights

Papain Form Insights

Based on the form, the Papain market segmentation includes powder, liquid, capsule, and others. The powder segment dominated the market, accounting for 48% of market revenue. Factors such as rising demand for meat tenderizers for meat products and the rising need for natural enzymes are driving demand. Simultaneously, producers are heavily spending on papain research and development to match regulatory standards due to the presence of regulatory rules.

Papain Application Insights

Based on application, the Papain market segmentation includes food & beverage, textile, pharmaceutical, cosmetic and others. The food & beverage segment dominated the market. Increasing rising consumer awareness of health and wellness, which causes them to be picky about the food they eat. Food and beverages infused with papain enzymes aid digestion and can be used as a natural anti-inflammatory and for fluid retention following trauma or surgery. It helps to heal burns, bedsores, and skin ulcers. Any skin disease, such as shingles or psoriasis, harms foxtrot. Furthermore, papain can improve the taste of beers, ales, and other fermented malt beverages. Chilling bottled beverages by adding papain can result in flavorful drinks.

Papain Distribution Channel Insights

Based on distribution channels, the Papain market segmentation includes store-based and non-store-based. The store-based category generated the most income (70.4%). This is due to the extensive product lineup that hypermarkets can display at the same time and place, making the purchasing experience easier for consumers. Furthermore, supermarkets can provide discount coupons when purchased in larger quantities than usual, which is a win-win situation for customers.

Figure 1: Papain Market, by Distribution channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Papain Regional Insights

The study divides the market into four regions: North America, Europe, Asia-Pacific, and the Rest of the World. The North American Papain market will dominate this industry, owing to rising customer awareness about health and well-being and a growing preference for natural goods in food and beverages. Furthermore, growing consumer awareness of the health benefits of including cysteine proteolytic enzymes such as papain in their diet is expected to fuel growth.

Thus, the major countries studied in the market report are Italy, Canada, German, France, the UK, Spain, The US, Japan, India, Australia, China, South Korea, and Brazil.

Figure 2: PAPAIN MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Papain market accounts for the second-largest market share, owing to increased consumer preference for using papain to treat burns, ulcers, irritations, bedsores, and other wounds and aid recovery from sports injuries, bolstering market growth in this area. Furthermore, the German papain market had the highest market share, while the UK papain market was the fastest expanding in Europe.

From 2023 to 2032, the Asia-Pacific Papain Market will develop at the quickest CAGR. Because of the papain market prospects, the increased demand for plant-based derivatives has influenced consumer perception. Furthermore, China's Papain market had the greatest market share, while India's Papain market was the fastest expanding in the Asia-Pacific region.

Papain Key Market Players & Competitive Insights

Prominent industry participants are spending a lot of money on R&D to broaden their product offerings, which will spur further expansion of the Papain market. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to broaden their worldwide reach. For the Papain industry to expand and prosper in a market that is becoming more difficult and competitive, it must offer reasonably priced goods.

One of the key business strategies manufacturers use in the worldwide  Papain industry to assist customers and expand the market sector is local manufacturing to reduce operating costs. In recent years, the Papain industry has offered some of the most significant advantages. Major players in the Papain market, including Pfizer Inc, and others, are attempting to increase market demand by investing in research and development operations.

Pfizer Inc. develops, manufactures, promotes, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the theNurtec ODT/Vydura, Eliquis,  and Premarin family brands; infectious diseases with unmet medical needs under the Nimenrix, FSME/IMMUN-TicoVac, Prevnar family,  and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands. Collaboration agreements have been signed with Bristol-Myers Squibb Company, Astellas Pharma US, Inc.,  Merck KGaA, Myovant Sciences Ltd., Valneva SE, BioNTech SE, and Arvinas, Inc. In December 2022, Pfizer Inc. and Clear Creek Bio, Inc. announced a research cooperation and exclusive license agreement to promote the discovery and development of potential SARS-CoV-2 papain-like protease (PLpro) inhibitors for COVID-19 oral treatment. PLpro is a crucial enzyme that, together with the major protease (Mpro), is required for viral replication. This program will broaden Pfizer's unique anti-infective pipeline and, if successful, will supplement Pfizer's existing COVID-19 product portfolio with direct-acting antiviral medicines against various SARS-CoV-2 targets.

Advanced Enzyme Technologies Limited is a research-driven company dedicated to marketing eco-safe solutions to a wide range of industries such as pharmaceuticals, nutraceuticals, animal healthcare, baking, agriculture, waste management, textile, leather, distilling, grain processing, brewing, juice processing, and so on. Advanced Enzyme Technologies Ltd. aims to employ enzymes and probiotics to replace all harsh medications and chemicals used in treating healthcare and industrial concerns. In January 2023, Advanced Enzyme Technologies has acquired a 50% stake in Saiganesh Enzytech Solutions (SESPL) by subscribing to the private placement/preferential issue of 19,991,663 equity shares of SESPL. SESPL's primary business is the extraction of latex from papaya and the purification and distribution of finished papain enzyme in liquid form (agricultural extraction of papain enzyme).

In December 2022, a research collaboration and an exclusive license agreement were announced by Pfizer Inc. (NYSE: PFE) and Clear Creek Bio, Inc. to promote the discovery and development of potential inhibitors of the SARS-CoV-2 papain-like protease (PLpro) for oral COVID-19 treatment. Viral replication is made possible through PLpro, which is an essential enzyme on its own, along with Mpro and another main protease. If successful, this program will be used by Pfizer to expand its innovative anti-infective pipelines and complement its existing portfolio of COVID-19 products with direct-acting antiviral agents against different SARS-CoV-2 targets. The two entities will work jointly under the terms of this agreement in order to identify a PLpro candidate that can now be moved into a clinic where Pfizer shall alone have all further developmental and commercial activities.

Key Companies in the Papain market include

• Senthil Papain and Food Products Ltd


• Fruzyme Biotech India Pvt Ltd


• Shri Ganesh Industrial Enzymes


• Aumgene Biosciences


• Shree Sai Agros


• Parchem Fine & Specialty Chemicals


• Ultra Bio-Logics Inc.


• Beckmann-Kenko GmbH


• AXO Industry SA


• Mitsubishi Kagaku Media (Japan)

Papain Industry Developments

June 2022: EnzymCo, based in Chennai, has introduced papain-rich food products such as dietary supplements and pet food. The proteins are natural, animal-free, GMO-free, non-toxic, and biodegradable.

April 2022: Solabia Group, a French cosmetics company, announced the debut of its new cosmetics by combining the natural enzyme papain taken from the papaya fruit. This enzyme is found in face washes and aids in regenerating new cells, resulting in healthy skin.

Papain Market Segmentation

Papain Form Outlook

• Powder


• Liquid


• Capsule


• Others

Papain Application Outlook

• Food & Beverage


• Textile


• Pharmaceutical


• Cosmetic


• Others

Papain Distribution Channel Outlook

• Store-Based


• Non-Store-Based

Papain Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America