Increasing health awareness among the population and growing demand for specialty and industrial enzymes in the pharmaceutical and food & beverage industries are among the key factors driving market revenue growth.
Increasing health awareness among the population and growing demand for specialty and industrial enzymes in the pharmaceutical and food & beverage industries are among the key factors driving market revenue growth
Emergen Research has published its latest report titled “Enzymes Market, By Source (Animals, Microorganisms, Plants), By Product Type (Specialty Enzymes, Industrial Enzymes), By Enzyme Type (Proteases, Carbohydrase, Polymerases & Nucleases, Lipases, Others), By Application (Research & Biotechnology, Pharmaceuticals, Diagnostics, Food & Beverages, Animal Feed, Biocatalysts, Wastewater, Biofuels, Detergents, Others), and By Region Forecast to 2028”
According to Emergen Research, the global enzymes market size was USD 10.47 billion in 2020 and is expected to reach USD 17.84 billion in 2028 and register a revenue CAGR of 6.9% during the forecast period, 2021-2028.
Market Dynamics:
Key factors providing impetus to the global enzymes market revenue growth are growing health awareness among consumers worldwide, increasing prevalence of chronic diseases such as diabetes and obesity, growing consumption of functional foods and beverages and nutritional supplements, and increasing use of specialty enzymes in the pharmaceutical and food & beverage sectors. Growing use of enzymes in animal feed and biofuels, rising demand in the personal care & hygiene and wastewater treatment industries, increasing applications in biotechnology research & development activities, and technological advancements in engineering and development of enzymes are among the other important factors expected to boost the global market revenue growth over the forecast period.
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Enzymes are biochemical substances derived from human organs, animals, plant materials, and microorganisms such as such as enzyme-producing bacteria and yeast. Various enzymes are used in the food & beverage sector to maintain the color, texture, and organoleptic properties of a wide range of food and beverage products. The pharmaceutical industry extensively uses enzymes for synthesizing intermediates in the production of active pharmaceutical ingredients (APIs) for medications. Moreover, enzymes are used in animal feed to enhance the nutritional content and improve the overall health of livestock.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Microorganisms Segment Accounted for Largest Revenue Share in 2020:
Based on source, the global enzymes market is segmented into Animals, Microorganisms, and Plants. The microorganisms segment dominated other segments in terms of revenue share in the global market in 2020. Growing demand for enzymes derived from microorganisms in the pharmaceutical, food & beverage, animal feed, personal care, and biofuel industries, owing to advantages such as easy availability and low production costs, is one of the key factors driving revenue growth of this segment.
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Carbohydrase Segment to Account for Fastest Revenue CAGR:
Based on enzyme type, the global enzymes market is segmented into Proteases, Carbohydrase, Polymerases & Nucleases, Lipases, and Others. The carbohydrase segment is expected to register the fastest revenue growth rate in the global enzymes market over the forecast period. Increasing demand for carbohydrase in the pharmaceutical, food & beverage, animal feed, biofuel, and textile & leather industries is a key factor contributing to revenue growth of this segment. Carbohydrase is used as a catalyst in the food & beverage sector in conversion of carbohydrates into glucose and fructose, as well as in the manufacture of prebiotics and artificial sweeteners.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America enzymes market held the largest revenue share in the global market in 2020. Growing consumer health awareness, increasing demand for functional and nutritional foods and beverages, rise in government investments in R&D activities in the pharmaceutical and biotechnology sectors, and growing use of specialty and industrial enzymes in the pharmaceutical, food & beverage, personal care, paper & pulp, biofuel, and textile & leather industries are some of the major factors supporting the North America market revenue growth.
Major Companies in the Global Enzymes Market Include:
- DuPont
- Novozymes
- DSM
- Lonza Group
- Amano Enzyme Inc.
- BASF SE
- Advanced Enzyme Technologies
- Hansen Holdings A/S
- Associated British Foods plc
- Enzyme Development Corporation
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For the purpose of this report, Emergen Research has segmented the global enzymes market on the basis of source, product type, enzyme type, application, and region:
Source Outlook (Revenue, USD Billion; 2018-2028)
- Animals
- Microorganisms
- Plants
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Specialty Enzymes
- Industrial Enzymes
Enzyme Type Outlook (Revenue, USD Billion; 2018-2028)
- Proteases
- Carbohydrase
- Polymerases & Nucleases
- Lipases
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Research & Biotechnology
- Pharmaceuticals
- Diagnostics
- Food & Beverages
- Animal Feed
- Biocatalysts
- Wastewater
- Biofuels
- Detergents
- Others
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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