The enzymes market is projected to reach USD 16.9 billion by 2027 growing at a CAGR of 6.8% from 2022 to 2027. The rise in demand for specialty enzymes which are applied in pharmaceutical industry for the production of proteins and cells and the intermediates in the production of active pharmaceutical ingredients for advanced therapeutic medicines is anticipated to drive the growth of the market in the coming years. The players in the market are actively involving in partnerships to develop enzymes for pharmaceuticals industry. In 2021, Novozymes has partnered with Novo Nordisk Pharmatech company to develop high quality enzymatic processing for regenerative medicines markets, focuses on stem cell and gene therapy.
The key players in the enzymes market include Novozymes (Denmark), DuPont (US), DSM (Netherlands), Associated British Foods (UK), BASF (Germany) and Chr. Hansen (Denmark) among others. The key strategies the leading market players adopt include product launches, collaborations, partnerships, and expansion to increase their market share. For instance, In April 2021, The Chr. Hansen launched new product named FreshQ for food and beverage application to enhance the bioprotective effects of fermentation in dairy. In October 2020, BASF has expanded the detergent enzyme technology by providing key ingredients for the home care and industrial and institutional cleaning industry like Lavergy is a detergent used for clothes to remove stubborn stains. In June 2019, Associated British Foods has collaborated with Brenntag Food & Nutrition (North America segment) for the distribution of food enzymes in the US and Canada.
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Novozymes is a major bio-innovation company providing biological solutions, which involve various applications of enzymes and microbes. The company caters enzymes to industries such as household care, food & beverages, bioenergy, agriculture & feed, and technical & pharma. The company had been involved in partnerships with leading distributors in the North American region in order to increase the consumer reach of their products. In September 2021, Novozymes had partnered with Univar Solutions, which is a leading chemical and ingredient distributor to provide biological solutions to the wastewater treatment in US and Canada. Being the major player in the enzymes market, the company is also involving in product launches and expansions. In September 2021, Novozymes has launched a new product in BioAg segment includes BioniQ for greater nutrition availability and better yield. In June 2019, Novozymes has expanded the enzyme production in East Africa to meet the consumers’ needs for enzyme products.
DuPont Nutrition & Biosciences (Denmark) is a subsidiary of DuPont, which offers enzymes under industrial biosciences. The company offers food enzymes to enhance the freshness of food, maximize production, texture and ensure quality of the product. In February 2021, the company has merged with the International Flavors & Fragrances with the objective to attain larger market shares in probiotics, soy proteins and enzyme cultures segments. The dominated use of enzymes in the food and beverage sector has led the company to launch new products for the segment. In 2020, the company launched products named POWERFresh and POWERSoft enzymes for industrial bakers. They help in improving the softness and texture of breads, cakes, buns, and sweet rolls. The company has also launched new products for other industries. In April 2019, DuPont launched a new product named “OPTIMASE” bio-based enzyme for the cleaning of medical instruments.
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 2027
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