Specialty Enzymes Market By Application (Pharmaceuticals, Biotechnology research and development, Diagnostics), By Source (Microorganisms, Plants, Animal), By Type (Carbohydrases, Proteases, Lipases, Polymerases & nucleases, Other enzymes): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global specialty enzymes market was valued at $1,166.1 million in 2021, and is projected to reach $2,176.0 million by 2031, registering a CAGR of 6.7% from 2022 to 2031.
Enzymes are proteins that help speed up metabolism or chemical reactions in body. Specialty enzymes have applications in various industries such as pharmaceuticals, diagnostics, and food industries. These specialty enzymes can be derived from micro-organisms, plants, and animal sources.
Rise in prevalence of chronic diseases such as cancer and rheumatoid arthritis drive growth of the market. For instance, according to the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Enzymes empower the immune system to eradicate unwanted cells on its own. Enzymes such as lipoprotein lipase (LPL), lysozyme, and asparaginase are utilized in the treatment of cancer. Thus, rise in prevalence of cancer drives growth of the market. In addition, enzymes are used for the digestive diseases and immunodeficiency disorders, which further boosts demand for specialty enzymes.
Furthermore, expansion of food industries drives demand of specialty enzymes. Enzymes such as lipases, amylases, proteases, rennet, pectinases, invertases, cellulases, and glucose oxidase play an important role in the food processing industry. For instance, according to the U.S. national institute of standards and technology (NIST), in 2021, the food and beverage industry is the third largest contributor to the overall U.S. manufacturing gross domestic product. Thus, increase in application of enzymes in the food industry and surge in expanding food processing industry drives growth of the market.
Moreover, increase in R&D activities for development of specialty enzymes, rise in clinical trials for medicinal application of enzymes, and novel product launches in the market by key players boost the market growth. For instance, Jazz Pharmaceuticals plc, a leading biologics company, announced positive results from a Phase 2/3 trial, developed and conducted in close collaboration with the Children's Oncology Group (COG), evaluating the intramuscular (IM) administration of Rylaze (asparaginase erwinia chrysanthemi (recombinant)-rywn) in adult and pediatric patients with acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL) who have developed hypersensitivity to an E. coli-derived asparaginase. However, complexities developed in biosimilars hinder growth of the market.
The specialty enzymes market is segmented on the basis of application, source, type, and region. By application, the market is classified into pharmaceuticals, biotechnology research & development, and diagnostics. On the basis of source, it is divided into microorganisms, plants, and animals. By type, it is divided into carbohydrase, proteases, lipases, polymerases & nucleases, and other enzymes. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Alphazyme LLC, Amano Enzyme, Antozyme Biotech, Enzyme Development Corporation, BBI Solution, Biocatalyst, Novoenzymes, Specialty Enzymes and Probiotics, International Flavors and Fragrances Inc., and Enzyme Supplies Ltd.
KEY BENEFITS FOR STAKEHOLDERS
This report entails a detailed quantitative analysis along with the current specialty enzymes market trends from 2022 to 2031 to identify the prevailing opportunities along with the strategic assessment.
The specialty enzymes market forecast is studied from 2022 to 2031.
The market size and estimations are based on a comprehensive analysis of key developments in the specialty enzymes industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the specialty enzymes market.
Key Market Segments
By Application
Pharmaceuticals
Biotechnology research and development
Diagnostics
By Source
Microorganisms
Plants
Animal
By Type
Carbohydrases
Proteases
Lipases
Polymerases nucleases
Other enzymes
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest Of Asia Pacific
LAMEA
Brazil
Turkey
South Africa
Rest of LAMEA
Key Market Players
Antozyme Biotech
Enzyme Development Corporation
BBI Solutions
Biocatalyst
Novozymes
Specialty Enzyme and Probiotics
International Flavor & Fragrance Inc
Enzyme Supplies Limited
Alphazyme LLC
Amano Enzyme
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook