Market Leaders: Novozymes (Denmark) and Associated British Foods (UK), are Increasing Their Respective Market Shares Steadily Through New Product Launches and Deals Such as Partnership, Collaboration, and Agreements in Protein Hydrolysis Enzymes Market
The protein hydrolysis enzymes market is projected to reach USD 2.9 billion by 2027 growing at a CAGR of 6.2% from 2022 to 2027. There is an increasing demand for protein hydrolysis enzymes from various industrial applications such as detergents, food industry, and pharmaceuticals as they aid in reducing costs in the industries by using less energy, water, raw materials and generating less waste.
The key players in the protein hydrolysis enzymes market include Novozymes (Denmark), Associated British Foods (UK), DSM (Netherlands), and BASF SE (Germany) among others. The key strategies leading market players adopt include product launches, partnerships, and acquisition to maintain their position in the market. In June 2021, Novozymes in alliance with DSM has launched a new product named ProAct 360 a second generation protease to establish a new market standard in protease technology for poultry. It aids in enhancing the affordability, efficiency and sustainability of the feed. In August 2020, another company Associated British Foods has signed an agreement with DeWolf to serve the US and Canadian detergent market and to create sustainable solutions for laundry detergents.
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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 to industries such as household care, food & beverages, bioenergy, agriculture & feed, and pharma. The company is keen to launch new product portfolios in the protein hydrolysis enzymes segment to strengthen the enzyme product portfolio. For instance, in June 2021, Novozymes launched a new product named “HiPhorius” to provide phytase solution for sustainable and profitable animal protein production. The company’s pharmaceutical enzymes segment is driven by the production of proteins for the biopharmaceutical industry. In June 2021, Novozymes collaborated with Novo Nordisk Pharmatech company to supply specialty enzymes for the regenerative medicines market, focuses on stem cell and gene therapies.
Associated British Foods (ABF) is a diversified group of businesses that forms one of the major food production companies. AB Enzymes is an industrial biotech company, which is a subsidiary of ABF Ingredients (UK), the specialty ingredient division of the ABF Group. AB Enzymes uses plant and animal-based sources for the production of protein hydrolysis enzyme. It includes “COROLASE” portfolio offers solutions for a variety of plant and animal protein sources and derived products. The company offers hydrolyzed animal protein mostly used as flavor enhancer or to increase the nutritional benefits in human nutrition and pet food applications amongst others. The company is increasing its market share through research and development and launching of new products. For instance, in March 2021, AB Enzymes launched VERON RYEO, a new enzyme technology applied in baking for rye dough processing in artisanal and industrial environments.
Related Reports:
Protein Hydrolysis Enzymes Market by Source (Microorganisms, Animals, Plants), Method of Production (Fermentation and Extraction), Product, Application (Detergent, Pharmaceuticals, Food, Textiles & Leather) and Region - Global Forecast to 2027
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