Dublin, July 02, 2024 (GLOBE NEWSWIRE) -- The "Global Enzymes Market by Product Type (Industrial Enzymes and Specialty Enzymes), Source (Microorganism, Plant, and Animal), Type, Industrial Enzyme Application, Specialty Enzymes Application, Reaction Type and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global enzymes market is projected to reach USD 20.4 billion by 2029 from USD 14 billion by 2024, at a CAGR of 7.8%
In the food and beverage sector, carbohydrases are crucial for enhancing product quality and process efficiency. For instance, amylases are vital in starch hydrolysis during brewing and baking, while lactases facilitate lactose breakdown in dairy products for lactose-intolerant consumers. 
Moreover, carbohydrases play a significant role in the production of biofuels by converting biomass into fermentable sugars, supporting sustainable energy initiatives. In the animal feed industry, these enzymes improve nutrient absorption and digestion, optimizing feed efficiency and animal health. Their application extends to textile processing, where they aid in achieving desired fabric textures and finishes. Carbohydrases' ability to address diverse industrial needs effectively underscores their prominence in driving innovation and economic growth within the enzymes market.
By source, Microorganisms are estimated to dominate the market during the forecast period.
Microorganisms stand out as a prevalent and versatile source due to their ability to produce a wide range of enzymes efficiently. In the enzymes market is the production of proteases, a type of enzyme crucial for various industrial applications such as detergent formulation, food processing, and pharmaceutical manufacturing. Microorganisms, particularly bacteria like Bacillus and fungi like Aspergillus, are prolific producers of proteases.
For instance, Bacillus subtilis is renowned for its secretion of proteases suitable for detergent formulations due to its effectiveness in breaking down protein-based stains. Additionally, the advent of genetic engineering techniques has further boosted microbial enzyme production. Through genetic manipulation, scientists can enhance microbial strains to overproduce specific enzymes or modify enzyme properties to meet desired industrial requirements. This capability has significantly expanded the range and efficacy of microbial enzymes, reinforcing their dominance in the market.
Europe will significantly contribute towards market growth during the forecast period.
Europe's contribution to enzymes market growth during the forecast period will be driven by its leadership in sustainable practices and technological innovation. Specifically, the region's focus on green chemistry and circular economy principles will propel the demand for enzymes in various sectors. For instance, in the detergent industry, European regulations promoting phosphate-free products have led to increased adoption of enzyme-based detergents, which offer superior stain removal without environmental harm. Additionally, Europe's strong emphasis on biofuels and renewable energy sources will boost the use of enzymes in biomass conversion and biofuel production processes.
Collaborations between European enzyme manufacturers and research institutions, such as the EU-funded projects fostering enzyme discovery and optimization, will further accelerate market growth by facilitating the development of novel enzyme solutions tailored to specific industrial needs. According to CORDIS - EU research results, starting in December 2023, the EU-funded FuturEnzyme project aims to develop low-cost enzymes for eco-friendly consumer products like textiles, detergents, and cosmetics.
Through innovative solutions and collaborative efforts, it will receive approximately USD 6.71 billion for enzyme discovery and optimization until May 2025. Overall, Europe's commitment to sustainability, coupled with its advanced research capabilities and supportive regulatory environment, positions it as a key driver of innovation and market expansion in the enzyme sector.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 412 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $14 Billion |
| Forecasted Market Value (USD) by 2029 | $20.4 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Premium Insights
- Advancements in Enzyme Engineering and Technological Innovations to Drive Market
- US Accounted for Largest Market Share in 2023
- China to Account for Largest Market Share in Asia-Pacific in 2024
- Carbohydrases Segment to Dominate Market During Forecast Period
- Carbohydrases Segment to Dominate Market During Forecast Period
- Industrial Enzymes Segment to Lead Market During Forecast Period
- Microorganisms Segment to Dominate Market During Forecast Period
Case Study Analysis
- Process Optimization in Enzyme Production
- Health Company Launched New Enzyme to Aid Brewers in Adjunct Brewing
- Codexis Inc (US) Deployed Its Codeevolver Platform to Develop a Highly Efficient and Stereospecific Ketoreductase Enzyme
- International Flavors & Fragrances Inc. (US) Launched New Enzyme for Dairy Products to Reduce Lactose Levels and Bring Balanced Sweetness
Market Dynamics
Drivers
- Growing Environmental Concerns and Increasing Demand for Biofuels
- Advancements in R&D Activities for Technical Enzymes
- Shift Toward Green Energy
- Multifunctionalities of Enzymes
Technology Analysis
- Precision Fermentation
- Enzyme Engineering
- Adjacent Technologies
- Solid-State Fermentation
Restraints
- Stringent Regulatory Framework
- Influence of Environmental Factors on Enzyme Structure and Functions
- High Cost Incurred by SMEs in Adapting to New Technologies
Opportunities
- Demand for Alternatives to Synthetic Chemicals
- Technological Innovations and Wide Industry Scope
- Emergence of Encapsulation to Enhance Enzyme Shelf Life
Challenges
- High Cost of Raw Materials
- Concerns Over Enzyme Quality in Food & Beverages and Feed Industries
- Lack of Transparency in Patent Protection Laws
Companies Featured
- BASF SE
- International Flavors & Fragrances Inc.
- Associated British Foods PLC
- DSM-Firmenich
- Novozymes A/S
- Kerry Group PLC
- Dyadic International Inc.
- Advanced Enzyme Technologies
- Aumgene Biosciences
- Amano Enzyme Inc.
- F. Hoffmann-La Roche Ltd
- Codexis, Inc.
- Sanofi
- Merck KGaA
- Adisseo
- Lesaffre Corporation
- Creative Enzymes
- Enzyme Solutions
- Enzymatic Deinking Technologies, LLC
- Tex Biosciences (P) Ltd.
- Denykem
- Metgen
- Biovet SA
- Biocatalysts
- Alltech
For more information about this report visit https://www.researchandmarkets.com/r/lkl43t
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