Enzymes Market To Explore Excellent Growth In Future

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. Enzyme market is exhibiting strong growth, by the growth in environmental concern and an increase in demand for biofuel and advancements in R&D activities for various enzyme types. Enzymes act as catalysts in chemical reactions and are hence preferred for industrial and specialty use to increase the efficiency of the production process. Industrial sectors such as biofuel production, food & beverages, paper & pulp, textile & leather, wastewater treatment, among others, are dependent on enzymes to catalyze the chemical reactions in the production process. The market for Asia Pacific is projected to grow at the highest CAGR, owing to the rise in the usage of industrial enzymes in food & beverages, textiles & leather, and paper & pulp, among others. Furthermore, due to the bio-degradable properties, enzymes are getting higher weightage in cosmetics and wastewater treatment industries.

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The North America region to account for largest market share during the forecast period

The North American market accounted for the largest share in 2018 and to account for the largest share even during forecast period. This dominance is attributed to the factors such as the inclination of the adult population towards an alternative to gasoline for the reduction in harmful auto & industrial emissions, has augmented the usage of bioethanol in the North American region.

The prominent 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), Roche Holding (Switzerland), Codexis (US), Sanofi (France), Merck (Germany), Enzyme Supplies (UK), Creative Enzymes (US), Enzyme Solutions (US), Enzymatic Deinking Technologies (US), and Biocatalysts (UK).

The food & beverage by application is projected to account for the largest share in the industrial enzyme market during the forecast period

Enzymes used in the food & beverage industry are distinguished into food additives and processing aids. However, most of the enzymes used in food & beverage products are considered as processing aids, and only a few are used as additives, such as lysozymes and invertases. Its use improves the flavor, texture, digestibility, and nutritional value of various food products. The augmentation of enzyme usage has benefitted the manufacturers in the food & beverage industry in mitigating the use of strong acids and bases, and lesser energy consumption & corrosive waste. Thus, these factors have been boosting the industrial usage of enzymes in the food & beverage.

The specialty enzyme segment is projected to grow at the highest CAGR during the forecast period

Key application areas of specialty enzymes are pharmaceuticals, biocatalysts, diagnostics, and enzymes used research & biotechnology. The diagnostic industry is increasingly using specialty enzymes in food and clinical diagnostic industry. The clinical in-vitro diagnostic industry uses specialty enzymes for diagnostic procedures in hospital laboratories for routine urine analysis, blood chemistry determinations, along with immunological and microbiological testing. Growing applications of specialty enzymes in clinical in-vitro diagnostic has significantly fueled the market growth.

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The carbohydrases segment dominated the market for enzyme, by type, in terms of value

The carbohydrases dominated the market for enzymes, by type, in terms of value, in 2018. The usage of enzymes is on a surge, including applications such as food & beverages, bioethanol, paper & pulp, textiles & leather, pharmaceutical, and research & biotechnology. The usage of enzymes helps in higher product quality, lower manufacturing cost, and less waste, and reduced energy consumption. They are often being used as an alternative to mitigate the usage of chemicals in various applications. Therefore, this forms a driving factor to boost the usage of enzymes in the various applications globally.