Global enzymes market is expected to reach USD 13.79 Billion by 2026, at a CAGR of 6.75% from 2019 to 2026. Growing demand from the end-user industries such as detergents, pharmaceuticals, and food & beverages is driving the global enzymes market.
Market Overview:
Enzymes are fundamentally protein molecules that perform the function of a biological catalyst to bring speed to metabolic reactions. Enzymes also feature other properties, such as the ability to react with a specific reactant. The enzymes market is expected to grow at an accelerated pace due to its extensive utilization in food processing, paper, biofuels, rubber, photography, biological detergents, contact lens cleaners, and molecular biology sectors.
Report Description:
- The base year for the study has been considered 2018, the historic year 2016 and 2017 and, the forecast period considered is from 2019 to 2026. The global enzymes market is analyzed on the basis of value (USD Billion) volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).
- The study delivers a comprehensive analysis of the global enzymes market by type, source application, and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global enzymes market. This report incorporates the industry analysis which is focused on providing an extensive view of the Enzymes market.
- The study also includes attractiveness analysis of type, source application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the enzymes market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
Market Dynamics:
Drivers:
- Rising demand from the animal feed industry
- Growing application scope in biofuels and pulp & paper industry
- Increasing demand for processed food
Restraints:
- Constraints pertaining to the chemical and physical properties of enzymes
- Handling and safety issues related to enzymes
Opportunities:
- Growing utilization in the forensic and molecular biological research
- Growing application in the food processing industry
Challenges:
- Lack of standardized regulatory guidelines
Global Enzymes Market Key Findings:
All the segments have been analyzed on global, regional and country basis. The study includes analysis of more than 30 countries for each segment.
Segmentation Analysis:
The global enzymes market has been segmented on the basis of type, source, and application.
- The type segment includes protease, carbohydrase, lipase, polymerase, nuclease, and others. The carbohydrase segment led the global functional protein market with a 39.76% share of market revenue in 2018. This attributes to the fact that carbohydrase is the most prominent type of enzyme used in pharmaceutical and food industries.
- The source segment includes microorganisms, plants, and animals. The microorganisms segment is anticipated to grow at the highest CAGR of 8.83% over the forecast period. This increased growth can be attributed to their easy availability and low production cost.
- The application segment includes food & beverages, household care, bioenergy, pharmaceutical and biotechnology, feed, and others. The household care segment emerged as the leader with a 42.78% share of market revenue in 2018. This increased market share can be attributed to the widespread use of enzymes in the household laundry and dishwashing detergents. However, the pharmaceutical and biotechnology segment is expected to grow at the highest CAGR of 8.97% over the forecast period.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region emerged as the largest market for the enzymes with a 40.23% share of market revenue in 2018.
- Growing awareness pertaining to the enzyme-based pharmaceuticals and protein therapies and rising demand from the food and beverages sector were some of the factors that led the North America region to dominate the global enzymes market in 2018.
- The Asia Pacific region is projected to grow at an accelerated CAGR of 9.02% over the forecast period. Factors such as huge ongoing investment on the pharmaceutical research and development activities, growing demand for the household products coupled with the growth of the food processing sector were responsible for this increased market share.
Global Enzymes Market Competitive Analysis:
Key players in the global Enzymes market are DSM, Novozymes, Danisco, Dow, DuPont Genencor, BASF, Advanced Enzymes, Enmex, Lonza Group, AB Enzymes, Chr. Hansen, Roche, ADM, BBI Enzymes Ltd., Procter & Gamble Co., Puratos Group, and Novus International, Inc., among others. Food and Beverages segment is generating a huge demand for the enzymes. In order to fulfill these burgeoning demand major players are increasing focusing on launching new products. For instance, in 2018, DowDupPont unveiled a new generation of dupont™ danisco® POWERBake® 8000 enzyme for the bakery industry in South America. POWERBake® 8000 is a fungal xylanases that guarantees more efficient and stable baking process, increasing the final product's volume.
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This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2026. Fior Market Research has segmented the global enzymes market on the basis of below-mentioned segments:
Global Enzymes Market by Type:
- Protease
- Carbohydrase
- Lipase
- Polymerase
- Nuclease
- Others
Global Enzymes Market by Source:
- Microorganisms
- Plants
- Animals
Global Enzymes Market by Application:
- Food & Beverages
- Household Care
- Bioenergy
- Pharmaceutical & Biotechnology
- Feed
- Others
Global Enzymes Market by Region:
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific
- South America
- Middle East and Africa
