The global enzymes market accounted for a value of USD 9.3 billion in 2019. and is projected to register growth at a CAGR of 6.2% during forecast period.
COVID-19 has impacted the enzyme market significantly. The manufacturing units have to shut its facilities for months due to lockdown. The supply chain of raw materials and finished products got disrupted due to travel restriction. Population around the world is adopting healthy and hygienic lifestyle which increases the demand for enzymes used in household products.
For more details, visit: Global Enzymes Market By Type (Lipases, Proteases, Others), By Source (Animal, Plant, Others.), By Product Type, By Industrial Enzymes Applications, By Specialty Enzymes Application, By End-Users, By Region, Forecast & Opportunities to 2026
The demand for effective enzymes based pharmaceuticals is increasing in the market. The demand for renewable energy sources such as bio-fuels which also increases demand for enzymes in the market and drives growth in enzymes market during forecast period.
On the basis of type, the enzymes market is segmented into carbohydrase, proteases, polymerases & nucleases, lipases and others. The carbohydrase segment is estimated to hold largest market share during forecast period. carbohydrase is classified into cellulase, amylase and others and it is used in various industrial applications such as pulp & paper, bio-fuel, food & beverages and textiles & leather. This drives growth in carbohydrase segment during forecast period.
On the basis of source, the enzymes market is segmented into animal, plant and microorganisms. The microorganisms segment is projected to hold largest market share during forecast period. Microorganism is the primary source for industrial enzymes due its bio-chemical properties. It is source of raw material for specialty applications. They are very active and stable in nature and it has a capability to degrade various complex substrates into useful energy sources, this made it very useful for industrial purposes. The large scale adoption of microorganisms-based enzymes by manufacturer drives growth in this segment during forecast period.
On the basis of end-users, the enzyme market is segmented into feed, pharmaceutical and biotechnology, bio-energy, household care, food & beverages and others. Household care segment is estimated to dominate the enzymes market during forecast period. The enzymes are used in various house hold products such as dishwashing detergents, laundry detergents and beverages segment. The demand for household is increasing rapidly as people are adopting healthy and hygienic lifestyle. This drives growth in household care segment during forecast period.
North America region is estimated to hold largest market share during forecast period. Enzymes are available for wide range of application in this region due to technological advancement. Various superior performing and novel products are developing in this region which makes many industries adopt enzymes. The pharmaceutical and feed industries are developing rapidly in this region and adopting enzymes at large scale. The demand for enzymes is increasing rapidly and drives growth in North America region during forecast period.
The key market players in enzymes industry are BASF, DuPont, Associated British Foods, DSM, Novozymes, Kerry Group, Dyadic International, Advandced Enzymes, Augene Bioscience, Chr. Hansen, Amano Enzymes, Roche Holdings, Codexis, Sanofi, Merck, Enzyme Supplies, Creative Enzymes, Enzymes Solutions, Enzymatic Deinking Technologies and Biocatalyst.
- What are the expected industry trends over the next three to five years?
- Which of the enzymes type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?