Enzymes Market By Type (Protease, Carbohydrase, Lipase, Polymerase and Nuclease, Others), By Source (Microorganisms, Plants, Animals), By Reaction Type (Hydrolase, Oxidoreductase, Transferase, Lyase, Other Reaction Types), By Application (Food and Beverages, Household Care, Bioenergy, Pharmaceutical and Biotechnology, Feed, Other Applications): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global enzymes market was valued at $5,830.5 million in 2021, and is projected to reach $10,215.2 million by 2031, registering a CAGR of 6.0% from 2022 to 2031.
Enzymes act as a catalyst in several bio-chemical reactions. These enzymes are responsible for controlling or speeding up the reaction, thus, providing numerous advantages over conventional chemical processes with respect to process efficiency and sustainability. Thus, enzymes have gained an increased popularity in industrial applications. Enzyme catalysis has been scaled up for various commercial processes such as food & beverage industry, textiles, detergents, paper & pulp, waste management, leather processing, biofuel industry, pharmaceuticals & biotechnology industry, as well as agriculture. The demand for enzymes is all set to increase across all industry verticals owing to their highly efficient bio-catalysis, product selectivity, lower physiological, and environmental toxicity. Moreover, utilization of lesser energy (temperature) and overall time reduction in manufacturing process has resulted in significant cost reductions. Therefore, this is expected to amplify the adoption and use of enzymes globally.
Numerous factors are responsible for driving the growth of the global enzymes market during the analysis period. Biotechnological, pharmaceutical, and food & beverage as well as the biofuel industry are reaping the benefits offered by enzymes. The surge in demand for enzymes in pharmaceutical industry to synthesize intermediates in active pharmaceutical ingredient (API) production for effective medications is anticipated to boost the growth of the enzymes market.
Likewise, the ability of an enzyme to convert complex molecules to simpler molecules (starch to glucose) in food & beverage companies, removal of fats & oil stains in the detergent industry, bioethanol for biofuel production, and improved bleaching properties in paper & pulp industries are the factors anticipated to propel the demand for enzymes in the coming years. In addition, rise in prevalence of various chronic diseases such as digestive diseases & inflammation, and upsurge in demand for renewable energy sources such as biofuels are further supplement the market growth. Conversely, factors such as handling & safety issues associated with enzymes and higher sensitivity to temperature & pH are anticipated to hamper the market growth. On the contrary, increase in awareness about the application of enzymes in protein engineering technology and higher market potential in the untapped emerging economies are expected to provide lucrative growth opportunities for the market expansion.
Moreover, the COVID-19 crisis is anticipated to have a positive impact on the enzymes market. This is attributed to the increase in demand for enzymes in nutritional & immunity boosting products along with rise in consumer focus on household care and upsurge in in-house food consumption. However, the companies are presently fronting an obstruction due to intermittent supply chain activities and uncertain market conditions owing to trade restrictions and lockdowns. This negative impact is anticipated to be remunerated by surge in demand for enzymes in food & beverages and pharmaceutical industries. Thus, the overall impact is expected to remain positive for key market players in the industry owing to the increase in awareness about preventive health and dietary solutions & formulations that support immune health over the entire pandemic phase.
The enzymes market is segmented on the basis of type, source, reaction type, application, and region. By type, the market is fragmented into protease, carbohydrase, lipase, polymerase & nuclease, and others. On the basis of source, the global enzymes market is categorized into microorganisms, plants, and animals.
By reaction type, the global enzymes market is classified into hydrolases, oxidoreductase, transferase, lyase, and others. The applications covered in the study include food & beverages, household care, bioenergy, pharmaceutical & biotechnology, feed, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
North America accounted for the largest market share in the enzymes market in 2021 and is expected to retain its dominance throughout the forecast period. This is primarily attributed to early adoption of advanced technology in pharmaceutical & biotechnology industries owing to high per capita healthcare expenditure and introduction of new enzyme-based drugs.
The report provides a comprehensive analysis of the key players that operate in the global enzymes market. The key companies profiled in the report include Novozymes A/S, Koninklijke DSM N.V., DuPont de Nemours, Inc., BASF SE, Advanced Enzyme Technologies Ltd., AB Enzymes GmbH, Codexis, Inc., Amano Enzyme, Inc., F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific Inc.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a detailed quantitative analysis of the current market trends and future estimations from 2021 to 2031, which assists to identify the prevailing market opportunities.
An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the enzymes market is provided.
An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
Key Market Segments
By Source
Microorganisms
Plants
Animals
By Reaction Type
Hydrolase
Oxidoreductase
Transferase
Lyase
Other Reaction Types
By Application
Food and Beverages
Household Care
Bioenergy
Pharmaceutical and Biotechnology
Feed
Other Applications
By Type
Lipase
Polymerase and Nuclease
Others
Protease
Carbohydrase
By Region
North America
U.S.
Canada
Mexico
Europe
Italy
Spain
Rest of Europe
Germany
France
United Kingdom
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
AB ENZYMES GmbH
Advanced Enzyme Technologies Ltd
AMANO ENZYME INC.
BASF SE
Codexis, Inc.
DUPONT DE NEMOURS, INC.
F. HOFFMANN-LA ROCHE LTD.
Koninklijke DSM N.V.
NOVOZYMES A/S
THERMO FISHER SCIENTIFIC INC. (AFFYMETRIX, INC.)
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