Enzymes Market Booming Demand Leading to Exponential CAGR Growth

 Key Highlights:

• The global enzymes market was valued at approximately ~US$ 6.4 Bn in 2018 and is anticipated to expand at a CAGR of more than 7% from 2019 to 2027
• Rise in demand for enzymes for use in the food & beverages processing application is driving the global enzymes market. North America accounted for a major share of the global enzymes market in 2018.
• In terms of demand, the U.S. held a dominant share of the North America enzymes market in 2018. The enzymes market in North America is expected to expand at a CAGR of ~7% during the forecast period.

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Key Drivers of Global Enzymes Market

• Innovation in the field of specialty and technical enzymes is projected to replace polluting chemical processes and provide environmental sustainability
• Properties of enzymes, such as excellent ability of enzymes to function at different pH levels and accelerating rate of reaction have led to their increased demand in food & beverages processing and animal feed applications
• Rise in competition among beer producers for improving the quality and flavor of alcoholic beverages is likely to drive the beverages industry to manufacture new beers with improved flavors. This, in turn, would increase the demand for high purity grade of enzymes, thus boosting the market for enzymes.

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Technical Grade to Dominate Global Enzymes Market

• Among grades, the technical grade segment held a major share of the enzymes market in 2018. Technical grade enzymes include carbohydrases, proteases, lipases, phytases, etc. The ability of technical enzymes to operate at mild conditions and their low cost are expected to drive the demand for these enzymes from a wide range of industries, including chemical production, biofuels, food & beverages, and personal care & household products.
• Rise in demand for enzymes for its use in synthesis of intermediates, which are further used in the manufacturing of active pharmaceutical & diagnostic ingredients (APIs), is projected to propel the demand for specialty enzymes in pharmaceutical & diagnostics

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Prominent Players in Global Enzymes Market

• Prominent players operating in the global enzymes market are BASF SE, Novozymes A/S, DowDuPont Inc., AB Enzymes GmbH, Biocatalysts Ltd, Chr., Hansen Holding A/S, Koninklijke DSM N.V., and F. Hoffmann-La Roche Ltd., Advanced Enzyme Technologies Limited, Asahi Kasei Corporation, CapriEnzymes, Maps Enzymes Ltd., SUNSON INDUSTRY GROUP CO., LTD., Tex Biosciences, LUMIS BIOTECH PVT LTD., Nature BioScience Pvt. LTD., Shanghai Shingenzyme Biochemical Industry Co., Ltd., and Zaozhuang Jienuo Enzyme Co., Ltd etc.
• The global enzymes market is highly competitive in nature. These companies are focusing on increasing research and development activities, and enhancing the quality of their products.
• Producers of enzymes are focusing on continuous development of their existing product portfolio. Additionally, manufacturers are also expanding the use of their technology for the development of new concepts for new applications.

Global Enzymes Market: Research Scope

Global Enzymes Market, by Grade

• Technical Grade
• Specialty Grade

Global Enzymes Market, by Type

• Carbohydrases
• Proteases
• Polymerases & Nucleases
• Lipases
• Phytases
• Others (catalases, esterase, phospholipase etc.)

Global Enzymes Market, by Application

• Food & Beverages Processing
  •  Dairy Products
  •  Bakery Products
  •  Others

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