Selbyville, Delaware, April 19, 2023 (GLOBE NEWSWIRE) --
The marine enzymes market valuation is projected to surpass USD 805 million by 2032, as reported in a research study by Global Market Insights Inc.
Rising adoption to cater to various pharmaceutical applications will positively impact the market growth. Marine enzymes are widely deployed in molecular DNA/RNA analysis across the research and diagnostics sector. In recent years, marine microbial enzymes have grown largely popular in research and development activities across the pharma industry as they provide novel biocatalysts with extraordinary properties. The growing usage of marine enzymes as catalysts in industrial biotransformation as well as in the production of marine pharmaceutical commodities will anchor the industry demand.
Marine enzymes market from the proteases product segment is anticipated to exceed USD 125 million by 2032, due to their increasing adoption in biofuels. Proteases are extensively employed in the food & beverage sector as they offer enhanced deliciousness while extending the storage life of multiple protein sources. These marine enzymes are specifically used for baking purposes considering their ability to improve textures and flavours while regulating the gluten strength in bread. Increasing demand for proteases as key components in detergent formulations to remove protein stains will further add to the product preference.
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Marine enzymes market from cosmetics applications will witness over 6.5% CAGR from 2023 to 2032. The ascending preference for cosmetics worldwide has propelled the demand for cosmetic-oriented proteolytic enzymes in hydration, cleansing, as well as restoration of the skin barrier along with improving the wound inflammation. Marine enzymes are hence largely used in cosmetics as they enhance the appearance of the skin while preventing problems. owing to their antibacterial properties, they are incorporated in formulations for limiting acne, aging and pigmentation as they exfoliate and keep the skin firm while preventing free radicals from damaging the body. The presence of cofactors and coenzymes in these enzymes to promote healthy skin is poised to further boost the market development.
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Asia Pacific marine enzymes market is expected to be worth USD 190 million by 2032, driven by the fast-growing pharmaceuticals and detergents industries in the region. The removal of the ban on frozen beef imports from Australia by China is positively influencing the adoption of marine enzymes in the food & beverages sector. The rapidly expanding leather manufacturing, household care, animal feed, and pharmaceutical verticals and the consequently growing product demand are other factors adding to the regional market dynamics.
Some of the leading companies involved in the marine enzymes market include Koninklijke DSM NV, Novozymes AS, Antozyme Biotech Pvt. Ltd., BioLume Inc., ArcticZymes Technologies ASA, Dash Corp., Novo Nordisk AS, Revelations Biotech Pvt. Ltd., BASF SE, Kemin Industries, Inc, Creative Enzymes, Lallemand Inc., and Royal DSM NV. These companies are constantly essaying collaborative ventures, such as partnerships and acquisitions for process and technological upgradations while strengthening their global presence. For instance, in April 2021, Kemin Industries acquired Proteus Industries, a well-known food technology and ingredient company, to add sustainable and clean-label yield enhancement technologies to its portfolio of ingredient solutions.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Global marine enzymes market 360º synopsis, 2018–2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Region trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2018–2032
3.3 Industry ecosystem analysis
3.3.1 Manufacturing trends
3.3.2 Profit margin analysis
3.3.3 Value addition at each stage
3.3.4 Distribution channel analysis
3.3.5 Value chain disruption analysis (COVID-19 impact)
3.3.6 Vendor matrix
3.4 Raw material analysis
3.5 Regulatory landscape
3.6 Innovation & sustainability
3.6.1 Patent analysis
3.6.2 Future trends
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Positive outlook for marine enzymes in bakery industry
3.7.1.2 Increasing application scope in pharmaceticals industry
3.7.2 Industry pitfalls and challenges
3.7.2.1 Lack of standardized regulatory guidelines
3.8 Growth potential analysis
3.9 Price trends
3.9.1 Cost structure analysis
3.9.1.1 R&D cost
3.9.1.2 Manufacturing & equipment cost
3.9.1.3 Raw material cost
3.9.1.4 Distribution cost
3.9.1.5 Operating cost
3.9.1.6 Miscellaneous cost
3.9.2 COVID-19 impact on pricing
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTLE analysis
3.12 Russia-Ukraine war impact on the marine enzymes demand
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
