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Alcohol and Starch/Sugar Enzyme Market - Global Trends & Forecast to 2018
The global alcohol and starch/sugar enzymes market is mainly driven by the North American and European market. Emerging economies are gaining momentum in the market share due to their increasing population and per capita income. Asia-Pacific is projected to be the fastest-growing market for alcohol and starch/sugar enzymes. North America is the largest market with regards to the demand of alcohol enzymes, wherein the U.S. imposes a major share of the market. The increasing use of biodiesel and bio-based ethanol in end applications is expected to drive the demand for alcohol enzymes in the region. North America is one of the largest segments for the use of ethanol as a fuel additive.
Rising middle class population, increase in per capita income, increasing affordability on the part of people, rapid growth of technology in the industry, and supportive policies by governments are the driving factors of emerging markets such as Asia-Pacific and Rest of World. Emerging countries such as China, India, and Brazil have tremendous scope for enzymes. Development of new and superior performing products and growing technologies would enable the enzymes market to explore the vast untapped market.
The demand for alcohol and starch enzymes is witnessing significant growth as it is considered as the functional additive in the pharmaceutical and biofuel industry. A few of the factors that drive the growth of the alcohol and starch enzymes market include increasing demand for processed starch and growth in the global pharmaceuticals and biofuel market. However, the market is being restrained due to high costs of manufacturing, supply chain issues, and declining R&D investments.
Related Reports:Alcohol and Starch/Sugar Enzyme Market by Type (Carbohydrase, Protease, and Lipase), by Application (Industrial, Specialty) & Geography - Global Trends & Forecasts to 2018
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