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Proteases Market worth 2.21 Billion USD by 2021
The report "Proteases Market by Source (Microbial, Animal, Plant), Formulation (Liquid, Lyophilized Powder), Product (Renin, Papain, Alkaline), Application (Food & Beverages, Feed, Soaps & Detergents, Pharmaceutical), & by Region - Global Forecast to 2021", This report defines and segments the proteases market on the basis of various sources, applications, methods of production, formulations, products, and regions, with analyses and projections of the market size of each of these segments in terms of value. The growing urbanization coupled with industrialization, adoption of advanced technology in production, reduction in feed costs & improved nutritional value of poultry meal, and producer’s concern over cost efficiency are the factors driving the demand of proteases.
The proteases market is projected to reach USD 2.21 Billion in terms of value by 2021, at a CAGR of 6% from 2016 to 2021.
Browse 70 market data tables with 58 figures spread through 152 pages and in-depth TOC on "Proteases Market by Source (Microbial, Animal, Plant), Formulation (Liquid, Lyophilized Powder), Product (Renin, Papain, Alkaline), Application (Food & Beverages, Feed, Soaps & Detergents, Pharmaceutical), & by Region - Global Forecast to 2021"
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Pharmaceutical to be the fastest growing application of the proteases market during the forecast period
The pharmaceutical segment has been estimated to lead the market in terms of value mainly due to the large quantity they are used in and the growing industrialization, increasing incidence of diseases and growing consumer’s awareness, and producer’s inclination toward cost efficiency and profitability. The food & beverage application of proteases is also projected to grow at a high CAGR and the growth is driven by the growing health awareness among consumers, increasing demand by the food manufacturers as proteases improves processing through viscosity reduction, improving flavor palatability, and also providing stability, along with the advancement in food technology and food processing.
Microbial: The most widely used source of proteases
The microbial source segment accounted for the largest share in the proteases market in terms of value, followed by the animal source segment of proteases, which is also projected to grow at the highest CAGR from 2016 to 2021. Growing research, broad biochemical diversity of microbial sources and its susceptibility to genetic manipulation, lower production costs, possibility of large-scale production in industrial fermenters bringing in benefits from economies of scale along with the use of non-burdensome methods are driving the demand for microbial source of production.
Asia-Pacific is projected to be the fastest-growing region in the proteases market
The North American region was the largest market for proteases in 2015. The Asia-Pacific region is projected to be the fastest-growing market for proteases during the forecast period. The market here is driven by increasing urbanization, growing disposable income, and advancement of technology. China dominated the Asia-Pacific market for proteases owing to the rapidly growing industrialization and investment in research & development.
This report studies marketing and development strategies, along with the product portfolio of leading companies such as Chr. Hansen Holdings A/S (Denmark), E.I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), Novozymes A/S (Denmark), Dyadic International Incorporated (U.S.), Advanced Enzyme Technologies Ltd. (India), Biocatalysts Limited (U.K.), Amano Enzyme Inc. (Japan), and Specialty Enzymes and Biotechnologies (U.S.).
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