New York, USA, Dec. 15, 2020 (GLOBE NEWSWIRE) -- As per a Research Dive published report, the global enzymes market valued for $8,900.0 million in 2018 and is estimated to surpass $17,875.7 million by 2026, exhibiting a CAGR of 9.4% from 2019 to 2026.
Impact on Market Due to COVID-19 Outbreak
The global enzymes industry is predicted to witness an upsurge in growth rate during the forecast period. As per the report, the enzymes market was likely to rise at a CAGR of 7.0% from 2019 to 2026 prior to COVID-19 crisis. However, due to the COVID-19 pandemic, the global market is projected to rise at a CAGR of 9.4% over the forecast period.
This is mainly owing to the growing adoption of enzymes in various industries such as food & beverages, diary, detergent, and leather industry. Comprehensive analysis on drivers, challenges, opportunities, restraints, and strategies executed by various governments and market players across the globe are further provided in the report.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
As we are running Anniversary Discount, here are some additional benefits which you are entitled to avail with this report.
- Free Excel Data Pack
- The report will cover impact of COVID-19 on this market.
- 20% Free Customisation
- 16 analyst hours support
- Quarterly Update on Enterprise License
- 24 hours priority response
- Additional Two company profile as per our requirement
*Offer Valid till 31 December 2020
Connect with Our Analyst to Reveal Anniversary Offers in detail: https://www.researchdive.com/connect-to-analyst/200
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Present Market Scenario Due to COVID-19 Chaos
The COVID-19 pandemic has adversely affected the global enzymes market in 2020. The decline in the growth rate of the global market in 2020 is majorly attributed to slowing or shutting down of processes such as manufacturing, distribution, and development of enzymes. However, some of the companies operating in the enzymes market are still fully operational in the midst of pandemic with an aim to provide essential enzymes for food production and sustain the losses. For example, Chr. Hansen Holding A/S, in March 2020 announced that the company is engaged and fully operational in manufacturing of enzymes.
The anticipated pre COVID-19 market size for enzymes market was $10,189.6 million in 2020 and is expected to observe an increase in growth and reach up to $10,617.6 million.
Global Market to Witness Robust After Pandemic
The global enzymes market is anticipated to experience an upsurging growth post-coronavirus pandemic. Restoration of demand for food, cosmetics, and biological components indicates profitable environment for the enzyme market growth after the end of pandemic. Additionally, the surging demand for medicinal drugs and innovative formulation of enzymes for human welfare are other factors to foster the market growth by the end of 2026.
For More Detail Insights, Download Sample Copy of the Report at: https://www.researchdive.com/download-sample/200
Prominent Players and Key Developments
The key players operating in the enzymes market are adopting several strategies to acquire a strong position in the global industry, which will drive the market growth by 2026. For instance, in September 2019, DuPont announced the launch of POWER Pasta enzymes in order to assist food production companies to serve products at minimal investments with superior taste and appearance.
The major players of the global enzyme market consist of -
- BASF
- Royal DSM
- Enmex
- Danisco A/S
- Advanced Enzymes
- Chr. Hansen
- Lumis Biotech
- Hayashibara
- Aumgene Biosciences
- Codexis.
The report summarizes and provides various aspects of all the major players functioning in the overall market such as financial performance, product portfolio, recent developments, strategic moves, SWOT analysis, and many more.
Related Reports -
- Enzyme Replacement Therapy Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
- Esoteric Testing Market: Global Opportunity Analysis and Industry Forecast, 2020-2027
- Enzyme-Linked Immunosorbent Assay (ELISA) Technologies Market: Global Opportunity Analysis and Industry Forecast, 2020-2027