Enzymes Market

Enzymes Market worth $14.7 billion by 2025

The report "Enzymes Market by Product Type (Industrial enzymes and Specialty enzymes), Source (Microorganism, Plant, and Animal), Type, Industrial Enzyme Application, Specialty Enzymes Application, and Region - Global Forecast to 2025" Enzyme market is projected to grow from USD 10.0 billion in 2019 to USD 14.7 billion by 2025, recording a compound annual growth rate (CAGR) of 6.7% during the forecast period. Enzyme market is exhibiting strong growth, by the growth in environmental concern and an increase in demand for biofuel and advancements in R&D activities for various enzyme types. Enzymes act as catalysts in chemical reactions and are hence preferred for industrial and specialty use to increase the efficiency of the production process. Industrial sectors such as biofuel production, food & beverages, paper & pulp, textile & leather, wastewater treatment, among others, are dependent on enzymes to catalyze the chemical reactions in the production process. The market for Asia Pacific is projected to grow at the highest CAGR, owing to the rise in the usage of industrial enzymes in food & beverages, textiles & leather, and paper & pulp, among others. Furthermore, due to the bio-degradable properties, enzymes are getting higher weightage in cosmetics and wastewater treatment industries.

Browse 126 market data Tables and 53 Figures spread through 202 Pages and in-depth TOC on "Enzymes Market by Product Type (Industrial enzymes and Specialty enzymes), Source (Microorganism, Plant, and Animal), Type, Industrial Enzyme Application, Specialty Enzymes Application, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/enzyme-market-46202020.html

The specialty enzyme segment is projected to grow at the highest CAGR during the forecast period.

Key application areas of specialty enzymes are pharmaceuticals, biocatalysts, diagnostics, and enzymes used research & biotechnology. The diagnostic industry is increasingly using specialty enzymes in food and clinical diagnostic industry. The clinical in-vitro diagnostic industry uses specialty enzymes for diagnostic procedures in hospital laboratories for routine urine analysis, blood chemistry determinations, along with immunological and microbiological testing. Growing applications of specialty enzymes in clinical in-vitro diagnostic has significantly fueled the market growth.

The carbohydrases segment dominated the market for enzyme, by type, in terms of value, in 2018.

The carbohydrases dominated the market for enzymes, by type, in terms of value, in 2018. The usage of enzymes is on a surge, including applications such as food & beverages, bioethanol, paper & pulp, textiles & leather, pharmaceutical, and research & biotechnology. The usage of enzymes helps in higher product quality, lower manufacturing cost, and less waste, and reduced energy consumption. They are often being used as an alternative to mitigate the usage of chemicals in various applications. Therefore, this forms a driving factor to boost the usage of enzymes in the various applications globally.

The microorganism segment, by source, to account for largest share during the forecast period

The enzymes market, by source, was dominated by the microorganism source in 2018. Microorganisms are the primary source of enzymes, as they are cultured in large quantities in a short span of time and genetic manipulations can be done on bacterial cells to enhance the enzyme production for usage in various industrial and specialty enzymes such as food & beverages, bioethanol, pulp & paper, textiles & leather, pharmaceutical, and biocatalysts. The enzymes from microorganisms have been exploited for various applications for their special characteristics such as thermo-tolerance, thermophilic nature, tolerance to a varied range of pH, and other biochemical properties. Therefore, these are the factors that largely fuel the demand for microorganisms as a source of enzymes.

The food & beverage by application is projected to account for the largest share in the industrial enzyme market during the forecast period.

Enzymes used in the food & beverage industry are distinguished into food additives and processing aids. However, most of the enzymes used in food & beverage products are considered as processing aids, and only a few are used as additives, such as lysozymes and invertases. Its use improves the flavor, texture, digestibility, and nutritional value of various food products. The augmentation of enzyme usage has benefitted the manufacturers in the food & beverage industry in mitigating the use of strong acids and bases, and lesser energy consumption & corrosive waste. Thus, these factors have been boosting the industrial usage of enzymes in the food & beverage.

The North America region to account for largest market share during the forecast period.

The North American market accounted for the largest share in 2018 and to account for the largest share even during forecast period. This dominance is attributed to the factors such as the inclination of the adult population towards an alternative to gasoline for the reduction in harmful auto & industrial emissions, has augmented the usage of bioethanol in the North American region.

The prominent players in this market include BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies
(India), Aumgene Biosciences (India), Chr. Hansen (Denmark), Amano Enzymes (Japan), Roche Holding (Switzerland), Codexis (US), Sanofi (France), Merck (Germany), Enzyme Supplies (UK), Creative Enzymes (US), Enzyme Solutions (US), Enzymatic Deinking Technologies (US), and Biocatalysts (UK).

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Report Code
FB 7583
PR Published ON
3/26/2020
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