Enzymes

Enzymes

The enzymes market is expected to register a CAGR of approx. 6% over the period of 2022-2030. Enzymes are highly specialised proteins that catalyse (speed up) chemical reactions in living organisms. They work by attaching to molecules known as substrates and turning them into products. Because enzymes are very specialised, each enzyme can only catalyse a single type of reaction or substrate molecule. They are essential in biological processes such as digestion, metabolism, and cellular signalling because they allow chemical reactions to proceed more quickly and efficiently. The growing demand for enzymes can be attributed to the rising demand for food & beverage products and The use of enzymes in animal feed are the key factors which boost the adoption of inorganic growth strategies among key industry players around the globe. For instance, in December 2020, DuPont Nutrition & Biosciences launched Versilk in North America, which is a clean-label native enzyme designed to optimize texture and taste in yogurts, drinkable dairy products, and other drinkable fermented products. Owing to the glaring statistics enzymes are being used for a variety of applications, including food processing, brewing, baking, and dairy production across the globe and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the enzymes market is anticipated to grow on account of growing awareness of enzyme-based cleaning products. However, some of the restraints in the market including the High production costs and stringent regulations are impeding the growth of this market all over the world.

• Based on product type, the market is segmented into industrial enzymes and specialty enzymes. Among them, the industrial enzymes segment captured a significant share of the market in 2021. This is due to increased product demand in a variety of end-use sectors, including food and beverage, detergent, animal feed, textile, paper and pulp, and wastewater. Product inclusion in detergents is likely to be driven by the expanding usage of detergents in industrial and residential applications in the emerging economies of Brazil, China, and India.
• Based on the type, the market is bifurcated into carbohydrases, proteases, lipases, polymerases & nucleases, and others. Among them, the carbohydrases segment is expected to grow at a higher CAGR in the market. This is due to rising demand from a variety of end-use industries such as food and drinks, animal feed, and pharmaceuticals, among others. Increasing need for pectinases and amylases in fruit juice processing for liquefaction, clarifying, and maceration to improve product quantity and quality is likely to fuel demand throughout the projection period.
• Based on the source, the enzymes market has been classified into plants, animals, and microorganisms. Among them, the microorganisms category grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The expanding demand for fungi-based enzymes from a variety of end-use applications is to blame for this high segment share. Fungi-based enzymes are most suited for a vegetarian diet, which is expected to boost product demand in the coming years..
• For a better understanding of the market adoption of enzymes, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), and Rest of World. Enzymes have gained increasing popularity in North America due to various factors. The growing need for eco-friendly and sustainable production practices in numerous industries, such as food & drinks, pharmaceuticals, and textiles. Enzymes can be used in various industries to lessen the need for harsh chemicals and energy-consuming processes, improving productivity, cutting down on waste, and having a less negative impact on the environment. The rising demand for food & beverage products are also attributing in the growth of the enzymes market. For instance, in March 2021, Amano launched a flavor enzyme for items containing plant proteins. Umamizyme Pulse, a non-GMO enzyme introduced by Amano Enzyme, is intended to be used in a variety of plant protein products to provide a flavor that is pleasant and tasty. The expansion of the biotechnology industry in North America has also played a vital part in driving the growth of the enzyme market, as new technologies and procedures for enzyme manufacturing and formulation have been created, resulting in enhanced efficiency and cost-effectiveness. The growing understanding of enzyme benefits, such as their capacity to improve the quality and nutritional content of animal feed, has also contributed to the expansion of the North American enzyme market. Additionally, as the desire for alternative fuel sources keeps rising, the use of enzymes in the manufacturing of biofuels has grown to be a significant market driver in the region.
• Some of the major players operating in BASF SE, Novozymes, DuPont Danisco, DSM, Merck & Co., Inc., F. Hoffmann-La Roche Ltd, Sanofi, Codexis, Inc., Chr. Hansen Holding A/S, AB Enzymes among others. Several M&A’s along with partnerships have been undertaken.