San Francisco, March 09, 2022 (GLOBE NEWSWIRE) -- The global enzymes market size is expected to reach USD 17.88 billion by 2028, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. Rising consumer awareness regarding health has resulted in the growing consumption of functional food products, which is expected to trigger product demand in the coming years.
Key Insights & Findings from the report:
- By type, industrial enzymes captured the largest revenue share of over 55.0% in 2020. In the industrial enzymes segment, the food and beverages segment captured the largest share in 2020 due to the growing consumption of functional food products and surging utilization of enzymes in bakery applications.
- In the specialty enzymes type segment, the pharmaceutical segment held the largest revenue share of over 40.0% in 2020 due to the growing inclusion of enzymes for key applications such as diagnosing diseases, promoting wound healing, and killing disease-causing microorganisms.
- By source, the microorganisms segment held the largest revenue share of over 80.0% in 2020 owing to the increasing demand for fungi-based enzymes in numerous end-use industries.
- North America held the largest revenue share in 2020 due to the strong presence of various end-use companies in the food and beverage, laundry detergent, pharmaceuticals, and personal care and cosmetics industries, along with high scope for research & development activities in developed countries.
Get Sample of this market research report, “Enzymes Market Size, Share & Trends Analysis Report By Type (Industrial, Specialty), By Product (Carbohydrase, Proteases), By Source (Microorganisms, Animals), By Region, And Segment Forecasts, 2021 - 2028”, published by Grand View Research.
Enzymes Market Growth & Trends
The demand for carbohydrase is increasing due to their extensive use as an ingredient in soft drinks. Carbohydrase is categorized into amylase, xylanase, cellulose, pectinase, and lactase. Increasing application of various types of carbohydrase in the pharmaceutical and animal feed sectors is anticipated to drive the market over the forecast period.
The U.S. is expected to continue dominating the North American market over the forecast period due to the high demand for the product from the food and beverage sector and increasing consumer awareness about health. The U.S. market is anticipated to witness notable growth on account of the extensive growth of the nutraceutical and pharmaceutical sectors in the country.
The market for enzymes is highly influenced by dominated supply from key players such as Novozymes AG, DuPont Danisco, and DSM, thus making it oligopolistic. The market has observed a rise in the demand for superior quality specialty enzymes. As a result, raw material distributors and manufacturers have significant opportunities to provide high-quality and uniform enzymes through a reviewed supply chain.
Enzymes Market Segmentation
Grand View Research has segmented the global enzymes market on the basis of type, product, source, and region:
Enzymes Type Outlook (Revenue, USD Million, 2017 - 2028)
- Industrial Enzymes
- Food & Beverages
- Detergents
- Animal Feed
- Biofuels
- Textiles
- Pulp & Paper
- Nutraceutical
- Personal Care & Cosmetics
- Wastewater
- Others
- Specialty Enzymes
- Pharmaceutical
- Research & Biotechnology
- Diagnostics
- Biocatalyst
Enzymes Product Outlook (Revenue, USD Million, 2017 - 2028)
- Carbohydrase
- Proteases
- Lipases
- Polymerases &Nucleases
- Others
Enzymes Source Outlook (Revenue, USD Million, 2017 - 2028)
- Plants
- Animals
- Microorganisms
Enzymes Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Australia
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- Turkey
List of Key Players of Enzymes Market
- BASF SE
- Novozymes
- DuPont Danisco
- DSM
- Novus International
- Adisseo
- Associated British Foods Plc
- Chr. Hansen Holding A/S
- Advanced Enzyme Technologies
- Lesaffre
- Enzyme Development Corporation
Check out more related studies published by Grand View Research:
- Industrial Enzymes Market - The global industrial enzymes market size is projected to reach USD 9.14 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.4% from 2020 to 2027. Growing demand for specialty enzymes in applications, such as diagnostics, pharmaceutical, research, and biotechnology, is projected to foster the product demand.
- Agricultural Enzymes Market - The global agricultural enzymes market size is expected to reach USD 671.4 million by 2025, according to a new report by Grand View Research, Inc. The increase in the consumption of organic food has been a major driving factor for the global industry growth. In addition, the rising usage of bio-products in the agricultural industry is also anticipated to be a major boost for the market.
- Molecular Biology Enzymes, Reagents And Kits Market - The global molecular biology enzymes, reagents and kits market size is expected to reach USD 29.3 billion by 2027, expanding at a CAGR of 11.0%, according to a new report by Grand View Research, Inc. The molecular biology field holds great potential to advance the medical treatments based on increasing scientific knowledge of cellular processes coupled with improving access to proteomics and genomics data.
Browse through Grand View Research’s Catalysts & Enzymes Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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