Enzymes Market

Novozymes (Denmark) and BASF (Germany) are the Key Players in the Enzymes Market

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. Increasing disposable income in emerging economies combined with global health concerns related to chronic diseases, such as cancer, diabetes, and cardiac disorders, has created significant demand for pharmaceuticals and diagnostic solutions, which has exponentially increased the demand for specialty enzymes.

The key 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), and Roche Holding (Switzerland). Product launches, expansions & investments, mergers & acquisitions, agreements, joint ventures, and partnerships were the dominant strategies adopted by major players. These strategies have helped them to increase their presence in different regions.

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BASF is a global chemical manufacturing company. It specializes in catering to major segments such as chemicals, performance products, functional materials & solutions, agricultural solutions, and others. The company manages 58 global & regional business units and develops strategies for 78 strategic product areas. It has also been investing heavily in biotechnology and large-scale production of enzymes. BASF has three global research divisions that are operated from Europe, Asia Pacific, and North America. The company has its presence across the globe in regions such as North America, Europe, Asia Pacific, South America, and Africa. In September 2019, BASF entered into a cooperation agreement with Conagen (US), a leader in biotechnology research. Conagen has strong R&D capabilities for fermented ingredients. This decision will enable BASF to serve the market with one of the aroma ingredients with the highest demand—natural vanillin.

DuPont is a global chemical company that has been focusing on technology-driven innovations in providing products and solutions to various industries. DuPont Nutrition & Biosciences (Denmark) is a subsidiary of DuPont, which offers enzymes under industrial biosciences. The company has segregated its business segments as agriculture, performance materials & coatings, industrial intermediates & infrastructure, packaging & specialty plastics, electronics & imaging, nutrition & biosciences, transportation & advanced polymers, safety & construction, and corporate. The consumer inclination toward ethanol fuel solutions has led the company to innovate and develop enzymes for the bioenergy segment. DuPont Nutrition & Biosciences has 16 production bases globally and provides products and business solutions to 95 countries in regions such as Europe, North America, Asia Pacific, South America, and the Middle East. In December 2019, DuPont Nutrition and Biosciences merged with International Flavors and Fragrances (US). This merger will lead to an enhanced set of capabilities that would enable the company to create innovative solutions. This will also lead to the company becoming a global leader in high-value ingredients and solutions for various industries.

Associated British Foods (ABF) is a diversified group of businesses that form one of the major food production companies. The company caters to five business segments: grocery, sugar, agriculture, ingredients, and retail. It has its business operations in 52 countries across Europe & Africa, North & South America, Asia, and Australia. AB Enzymes (Germany) is an industrial biotech company, which is a subsidiary of ABF Ingredients (UK), as it is a specialty ingredient division of the ABF Group. The company provides enzymes for textiles, pulp & paper, and other food applications under its ingredients segment. Its production emphasizes on high-quality, tailor-made dilutions and formulations for textile chemical formulators. It has its operations in countries such as the US, Brazil, China, Germany, Finland, and Singapore. In November 2019, AB Enzymes, a subsidiary of ABF Ingredients, launched its new product, VERON MAXIMA. This product will enable bread improver companies to differentiate themselves and keep their bread fresh. There are no dosage limitations for the product as the company provides premium fresh-keeping items.

Related Reports:

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

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Report Code
FB 7583
RI Published ON
3/25/2020
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