Global Specialty Enzymes Market Size study, by Source (Plant, Animal, Microbial) by Type (Carbohydrases, Proteases, Lipases, Other Types) by Application (Food & Beverage, Pharmaceutical, Animal Nutrition, Other Applications) and Regional Forecasts 2022-20

Global Specialty Enzymes Market Size study, by Source (Plant, Animal, Microbial) by Type (Carbohydrases, Proteases, Lipases, Other Types) by Application (Food & Beverage, Pharmaceutical, Animal Nutrition, Other Applications) and Regional Forecasts 2022-2032

Global Specialty Enzymes Market is valued approximately USD 1.37 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.70 % over the forecast period 2024-2032. Specialty enzymes are enzymes that are highly specialized in their function and are typically used in specific industrial processes, research, or medical applications. Specialty enzymes are usually produced through advanced biotechnological methods and are tailored to perform specific tasks efficiently. Moreover, the increasing demand for processed food directly supports the growth of the specialty enzymes market. Enzymes are used in food processing to extend the shelf life of products by controlling enzymatic browning, inhibiting microbial growth, and preventing spoilage. This allows manufacturers to produce foods with longer shelf lives, reducing waste and increasing product availability.

The growth of the specialty enzymes market is propelled by several key factors. Primarily there's a rising incidence of digestive disorders, including indigestion and inflammation, as well as other conditions like immunodeficiency. Specialty enzymes offer rapid and effective relief for these ailments, driving their adoption. Moreover, the diverse applications of specialty enzymes across various segments further bolster market growth. Additionally, rapid advancements in biotechnology and molecular biology, growing use in pharmaceutical industry, and expansion of food and beverage industry are anticipated to provide an additional impetus to market expansion in the forecast period 2024-2032. However, high maintenance cost of specialty enzymes products and rising safety concerns owing to risks of contaminations of the specialty enzymes are expected to hinder the market growth during the forecast period 2024-2032.

The key regions considered for the global Specialty Enzymes market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Specialty Enzymes hold the largest market in North America, as they are mostly used in the feed and food industries. It has a significant market share in the global specialty enzyme market. Consumer demand for natural ingredients in products, rising spending on premium quality products, and rising consumption of processed foods are the key factors driving the market growth. Also, Emerging applications of food enzymes, particularly in areas like protein fortification, are anticipated to spur growth within the food enzymes market. This trend is poised to generate attractive prospects for market players. For instance, in June 2021, International Flavors & Fragrances, Inc. introduced Nurica, a dairy enzyme, in the United States. This enzyme effectively utilizes lactose naturally occurring in milk. By enhancing the production of prebiotic Ggalacto-oligosaccharides (GOS) fibers, Nurica aids in managing lactose intolerance and improving fiber intake.

Major market player included in this report are:
Antozyme Biotech Pvt Ltd
Biocatalyst
Specialty Enzyme and Probiotics
BBI Solutions
Amano Enzyme Co., Ltd.
Enzyme Supplies Limited
Novozymes A/S
Alphazyme LLC
International Flavor & Fragrance Inc
Enzyme Development Corporation

The detailed segments and sub-segment of the market are explained below:

By Source
Plant
Animal
MicrobialCombustion
Gasification
Anaerobic Digestion

By Type
Carbohydrases
Proteases
Lipases
Other Types

By Application
Food & Beverage
Pharmaceutical
Animal Nutrition
Other Applications


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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