Enzymes Market to Surpass USD 16.3 billion by 2031, Expanding at a 7.6% CAGR | Exclusive Report by Transparency Market Research

Wilmington, Delaware, United States, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for enzymes was estimated to be worth US$ 7.7 billion in 2021. The market is anticipated to advance with a 7.6% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 16.3 billion.

In the enzymes market, ingredient producers are vying to create biofuel enzymes that are utilized in the fermentation of ethanol generation. These new enzymes are replacing alpha-amylase in several applications because of their lower viscosity. To take advantage of new potential in the broader bioenergy sector, companies intend to begin customer trials employing biofuel enzymes. They are utilizing their understanding of the industry, their technical proficiency, and their customer laboratory services in order to increase biodiesel stability with enzymes.

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Global Enzymes Market: Key Players

A few large-scale vendors hold the majority of the market share for enzymes on a worldwide basis. The majority of businesses invest a lot in research and development, mostly to create environmentally friendly products.

Some of the key manufacturers profiled in this report are:

• Novozymes A/S
• BASF SE
• DowDuPont Inc.
• AB Enzymes GmbH
• Biocatalysts Ltd
• Chr. Hansen Holding A/S
• Codexis, Inc.
• Koninklijke DSM N.V.
• Advanced Enzyme Technologies Limited
• Asahi Kasei Corporation
• CapriEnzymes
• Amano Enzyme Inc.
• BioResource International, Inc.
• Maps Enzymes Ltd.
• Specialty Enzymes & Probiotics
• F. Hoffmann-La Roche Ltd

Developments by the key players in the global market for enzymes are:

Key Findings of the Market Report

• Enzymes are commonly utilized in biofuel, textiles, and detergents to regulate and speed up the biological reactions, hence are crucial for the drug development within the biotechnology sector.
• When enzymes are added to detergents, their cleaning effectiveness is increased in comparison to that of standard bleaching agents employed in laundry applications.
• Biomass is supplemented with enzymes as catalysts to improve certain conditions for biochemical processes.
• The international bioenergy sector is anticipated to generate a new form of biofuel in response to increased rivalry among biofuel producers.
• The demand for enzymes is thus anticipated to increase in the near future as a result of this.
  

Market Trends for Enzymes

• The market for enzymes has been divided into technical grade and speciality grade based on grade. The technical grade segment's market share is anticipated to reach 60.5% by 2031. During the projected period, the segment is anticipated to increase at a pace greater than 7.3%, maintaining its upward trend in market gain.
• The growth in demand for food, dairy, and meat products is the main factor driving the rise in the need for enzymes in industrial applications.
• The global enzymes market has been divided based on type into lipases, phytases, polymerases & nucleases, carbohydrases, and others. The agricultural enzyme is proteases. The market for enzymes in 2021 was dominated by the sector of carbohydrases. Proteases, polymerases, and nucleases segments came next.
• It is anticipated that the carbohydrases market will record a CAGR of 7.8% from 2022 to 2031. The main applications of this type of enzymes in the food sector include the hydrolysis of sucrose, the generation of fructose syrup, as well as the hydrolysis of lactose in milk.

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Enzymes Regional Market Outlook

Various reasons are propelling the growth of the enzymes market in different regions. These are:

• In 2021, in terms of volume, North America accounted for 38.4% of the global enzymes market. The increased demand for enzymes within the food and dairy products sector, which accounted for 30.8% of the market share in North America in 2021, was mostly attributable for the high consumption of enzymes in the area.
• The consumers in Europe and the Asia-Pacific region consume a lot of food and drink. In 2021, these regions represented a value share of the global market of 27.8% and 25.1%, respectively. The enzymes market in these areas is seeing tremendous growth in the applications for dairy and bread goods. Alcohol enzymes are widely used in the Asia Pacific region, which in 2021 accounted for 27.8% of the global market.
• The Middle East and Africa has greater number of consumers for enzymes, when compared to Latin America.
  

Global Enzymes Market Segmentation

• Grade
  • Technical Grade
  • Specialty Grade
• Type
  • Carbohydrases
  • Proteases
  • Polymerases & Nucleases
  • Lipases
  • Phytases
  • Others
• Application
  • Food & Beverages Processing
    • Dairy Products
    • Bakery Products
    • Others
  • Personal & Household Care
  • Animal Feed
  • Bioenergy
  • Pharmaceutical & Diagnostic
  • Textiles
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America
    

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