NEW YORK, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Specialty Enzymes Market By Source (Animals, Plants, And Microorganisms), By Application (Biotechnology, Pharmaceuticals, Diagnostics, And Research & Development), By Type (Proteases, Polymerases & Nucleases, Carbohydrases, Lipases, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.
[170 + Pages Research Study] According to a market research study published by Zion Market Research, the demand analysis of Global Specialty Enzymes Market size & share revenue was valued at around USD 1.19 billion in 2021 and is estimated to grow over USD 2.1 billion by 2028, at a CAGR of approximately 6.69% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are F. Hoffmann-La Roche Ltd., Codexis Inc., Speciality enzymes and probiotics, DuPont Nutrition and Bioscience, Advance enzymes, Novozymes, Amano enzyme Inc., BBI Solutions, and Sekisui Diagnostics, among others.
“According to the latest research study, the demand of global Specialty Enzymes Market size & share in terms of revenue was worth of USD 1.19 billion in 2021 and it is expected to surpass around USD 2.1 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 6.69% during the forecast period 2022 to 2028.”
What are Specialty Enzymes? How big is the Specialty Enzymes Market?
Specialty Enzymes Industry Coverage & Overview:
Specialty enzymes are artificially created enzymes with applications in the pharmaceutical and healthcare sector. Biologic enzymes are catalysts and, in most cases, classified as proteins. Enzymes are used to speed up a given chemical or biological reaction in the human body. During the process, these enzymes do not get destroyed but are used continuously.
Since they are important aspects of human health, pharmaceutical companies and research centers have shown high interest in the study and development of specialty enzymes that can be either used in medicines, novel drugs, and food & beverages or probiotics, which refers to the introduction of microorganisms into the body to benefit from its qualities.
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 1.19 Billion |
| Projected Market Size in 2028 | USD 2.1 Billion |
| CAGR Growth Rate | 5% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | F. Hoffmann-La Roche Ltd., Codexis Inc., Speciality enzymes and probiotics, DuPont Nutrition and Bioscience, Advance enzymes, Novozymes, Amano enzyme Inc., BBI Solutions, and Sekisui Diagnostics among others. |
| Key Segment | By Source, By Application, By Type, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Global Specialty Enzymes Market: Growth Dynamics
The global specialty enzymes market is projected to grow due to the increasing application of specialty enzymes in the food & beverages (F&B) sector. These enzymes are used in the manufacturing of food products like cheese, bread, vine, vinegar, and other consumables. In 2020, the food enzymes market was valued at USD around 3 billion and it may grow at a CAGR of 7.59% in the next five years.
The global market size may also be propelled by the high adoption rate of specialty enzymes in the drug development process owing to increased demand for effective drugs along with research on the future of medicinal products. As per an analysis by the Indian Health Metrics and Evaluation, the growth rate for cancer is one of the highest in India. In 2020, more than 1,392,178 people were diagnosed with various forms of cancer.
The problems with biosimilar drugs may restrict the global market expansion while growing applications in biotechnology are expected to provide excellent growth opportunities. However, rising culture contamination is anticipated to challenge the global market expansion.
Specialty enzymes have found extensive use in therapeutic modalities, which is the use of mechanical, thermal, light, and electromagnetic energy for therapeutic or curing purposes. These enzymes are cultured in research & development units in a contamination-free environment. Once created, specialty enzymes have to undergo quality checks to receive approvals from necessary regulatory authorities to be used in the real-life market.
Browse the full “Specialty Enzymes Market By Source (Animals, Plants, And Microorganisms), By Application (Biotechnology, Pharmaceuticals, Diagnostics, And Research & Development), By Type (Proteases, Polymerases & Nucleases, Carbohydrases, Lipases, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/specialty-enzymes-market
Specialty Enzymes Market: COVID-19 Impact Analysis
Specialty enzymes witnessed a high demand during the pandemic majorly due to an increased interest of pharmaceutical players during the drug development process for the treatment of Covid-19. Since the virus itself was new and had a high mutation rate, research facilities worked extensively on learning about the nature of the virus and ways to treat it.
Specialty Enzymes Market Infographic Statistics:
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Specialty Enzymes Market: Segmentation Analysis
The global specialty enzymes market is segmented based on type, source, application, and region
Based on type, the global market divisions are proteases, polymerases & nucleases, carbohydrates, lipases, and others. While carbohydrates dominated the global market in 2021, in the coming years, nucleases and polymerases may grow at the fastest CAGR. Gene therapy is projected to open multiple doors for further growth. As per official data, investment in gene therapy between 2014 and 2021 has witnessed a growth of 58.9% on average.
Based on source, the global market is segmented into animals, plants, and microorganisms. In 2021, the global market witnessed the highest revenue in the micro-organisms segment due to the rising applications of amylases in the pharmaceutical and biotechnology industry. The animal segment is projected to grow at a faster rate during the projection period due to high cases of digestive disorders. In 2015, more than 3 million adults were reported to suffer from Crohn's disease.
Based on application, the global market divisions are biotechnology, pharmaceuticals, diagnostics, and research & development. In 2021, pharmaceuticals led the global market due to the extensive use of specialty enzymes in drug development processes along with increased R & D in the supplements and probiotic drinks market.
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Competitive Landscape
Some of the main competitors dominating the global Specialty Enzymes market include -
- F. Hoffmann-La Roche Ltd.
- Codexis Inc.
- Speciality enzymes and probiotics
- DuPont Nutrition and Bioscience
- Advance enzymes
- Novozymes
- Amano enzyme Inc.
- BBI Solutions
- Sekisui Diagnostics
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Specialty Enzymes market is estimated to grow annually at a CAGR of around 6.69% over the forecast period (2022-2028).
- In Terms of Revenue, The Specialty Enzymes market size was valued at around USD 1.19 billion in 2021 and is projected to reach USD 2.1 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- An increasing number of diseases and an increased need for solutions for disorders like cancer, diabetes, and others are likely to drive global market growth in the future.
- On the basis of the source segment, it was anticipated that microorganisms would hold the largest market share in the year 2021.
- In terms of the classification of applications, pharmaceuticals was the most prominent category in 2021.
- North America was the most productive geographic region in terms of revenue generation in the year 2021.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Specialty Enzymes industry?
- What are the main driving factors propelling the Specialty Enzymes Market forward?
- What are the leading companies in the Specialty Enzymes Industry?
- What segments does the Specialty Enzymes Market cover?
- How can I receive a free copy of the Specialty Enzymes Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Source, By Application, By Type, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Regional Analysis:
North America is anticipated to lead the global specialty enzymes market due to the growing advancements in the pharmaceutical industry and healthcare segment of the United States along with the increasing rate of product approvals. The presence of key market players is an important region for the US to generate high CAGR. Specialty enzymes & probiotics, a global giant in the global market is headquartered in the US. The company spends a hefty amount on product innovation and its products are used across players in the food, drinks, and supplements segment.
The expanding F & B segment of the US may also contribute heavily to the regional market growth which is projected to be driven by a growing number of players, and a high product innovation rate. In 2020, the F & B sector of the US was valued at over USD 990 billion. Asia-Pacific is projected to grow due to the rise of the healthcare sector. Between 2022 and 2023, the Indian pharmaceutical sector is projected to grow at a rate of 6%.
Recent Developments
- In March 2022, Amano Enzyme, a specialty enzymes supplier, announced the launch of Umamizyme Pulse, to be used in products based on plant protein
- In September 2022, Allozymes and CSM Ingredients announced a strategic tie-up for the development of a novel enzyme
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The global Specialty Enzymes market is segmented as follows:
By Source
- Animals
- Plants
- Microorganisms
By Application
- Biotechnology
- Pharmaceuticals
- Diagnostics
- Research & Development
By Type
- Proteases
- Polymerases & Nucleases,
- Carbohydrases
- Lipases
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Why you should get this report:
- The existing and future market outlook for the industry in context of recent events (including growth factors, key players, obstacles and restraints in advanced as well as emerging economies).
- Incorporates a comprehensive examination of the market utilizing Porter's five forces from a variety of perspectives.
- Offers market analysis based on Growth Revenue and Supply-Demand Chain.
- The market's current state and expected development over the next few years.
FREQUENTLY ASKED QUESTIONS
1. Which key factors will influence specialty enzymes market growth over 2022-2028?
The global specialty enzymes market is projected to grow owing to the increasing investments and high growth rate of the pharmaceutical industry which has gained a higher momentum post the pandemic impact.
2. What will be the value of the specialty enzymes market during 2022-2028?
According to study, the global specialty enzymes market size was worth around USD 1.19 billion in 2021 and is predicted to grow to around USD 2.1 billion by 2028 with a compound annual growth rate (CAGR) of roughly 6.69% between 2022 and 2028.
3. Which region will contribute notably towards the specialty enzymes market value?
The global specialty enzymes market is projected to be dominated by North America in the coming years as it has in 2021 owing to an increased number of approvals from the US Food and Drugs Administration for specialty enzyme products ranging from pharmaceutical products to pet healthcare.
4. Which are the major players leveraging the specialty enzymes market growth?
The global specialty enzymes market is led by players like F. Hoffmann-La Roche Ltd., Codexis Inc., Speciality enzymes and probiotics, DuPont Nutrition and Bioscience, Advance enzymes, Novozymes, Amano enzyme Inc., BBI Solutions, and Sekisui Diagnostics among others.
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