Chicago, June 28, 2024 (GLOBE NEWSWIRE) -- The enzymes market size is estimated to be valued at USD 14.0 billion in 2024 and is projected to reach USD 20.4 billion by 2029, recording a CAGR of 7.8%. In recent years, the growth of the enzymes market has been driven by the increasing demand in the food and beverage industry. Enzymes play a crucial role in enhancing food quality, improving processing efficiency, and extending the shelf life of various products.
For instance, in dairy processing, enzymes like lactase are used to produce lactose-free milk, catering to the growing lactose-intolerant population. In baking, enzymes improve dough handling and bread quality by enhancing texture and volume. Moreover, enzymes are essential in brewing, where they break down starches into fermentable sugars, optimizing fermentation and improving flavor. The constant innovation and consumer demand for high-quality, functional, and diverse food products significantly drives the adoption of enzymes in the food and beverage sector, contributing to the overall market growth.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46202020
Enzymes are utilized in a variety of industrial applications, including food and beverage processing, detergents, textiles and leather, paper and pulp, wastewater treatment, animal feed, starch processing, cosmetics and personal care products, and oilfield and fine chemicals. The primary types of enzymes used in these industrial and specialty applications include carbohydrases (such as amylases, cellulases, pectinase, lactase, mannanase, and pullulanase), proteases, lipases, and others like isomerases, transferases, beta-glucanases, arabinoxylanases, amyloglucosidase, and pullulanase.
Additionally, enzymes find application in specialty fields such as pharmaceuticals, research and biotechnology, diagnostics, and biocatalysts. It is projected to reach USD 20.4 billion by 2029 growing at a CAGR of 7.8% from 2024 to 2029.
A notable opportunity in the enzymes market is the dominance of specialty enzymes in pharmaceutical applications. With the pharmaceutical sector increasingly favoring biopharmaceuticals for their efficacy and reduced side effects, specialty enzymes play a crucial role in their production. For example, enzymes like proteases and glycosidases are vital in modifying and purifying proteins, enhancing their stability and bioactivity.
Advancements in enzyme engineering enable the development of novel enzyme-based technologies, such as targeted drug delivery systems and enzyme-based biosensors. As the demand for biopharmaceuticals grows due to factors like aging populations and personalized medicine, the market for specialty enzymes in pharmaceuticals is poised for expansion, offering significant opportunities for innovation and growth within the industry.
Based on product type, the enzymes market is categorized into specialty enzymes and industrial enzymes, with industrial enzymes currently dominating the market. This dominance is attributed to extensive applications across diverse sectors such as food and beverage processing, textiles, detergents, and biofuel production, driving substantial demand. Moreover, advancements in enzyme engineering have facilitated the development of more efficient and specialized industrial enzymes, catering to evolving industrial needs. The growing emphasis on sustainable production methods and eco-friendly solutions has propelled the adoption of industrial enzymes, which often enable cleaner and more resource-efficient manufacturing processes. As industries continue to prioritize efficiency, sustainability, and product quality, the demand for industrial enzymes is expected to further expand, presenting lucrative revenue opportunities in emerging sectors and applications within the enzyme market.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=46202020
The growth potential for the enzymes market has been projected to be high due to the increasing product launches, collaborations, partnerships, and acquisitions by the players in the industry. For instance, in January 2024, Novozymes and Chr. Hansen completed their merger, resulting in the establishment of Novonesis. As a bio solutions partner, Novonesis aims to enhance business, promote healthier lives, and support a healthier planet. The combined expertise of the company spans over 30 different industries. In February 2024, Codexis, Inc. secured an exclusive global license agreement with Roche for its newly engineered dsDNA ligase and EvoT4 DNA ligase for NGS library preparation, including upfront and technical milestone payments, replacing the previous EvoT4 license. In March 2024, Sanofi India Limited (SIL) approved an agreement with Emcure Pharmaceuticals to exclusively distribute and promote SIL's Cardiovascular products in India. While SIL retains ownership, import, and manufacturing, Emcure will enhance engagement with healthcare professionals and broaden its reach, benefiting patients nationwide and strengthening Sanofi’s market presence.
Browse Related Reports:
