The global enzyme market held a market value of USD 8.80 billion in 2021 and is projected to reach USD 27.51 billion by the year 2035. The market is projected to register a CAGR of 8.71% during the forecast period.
The enzyme market is significantly increasing owing to the increasing acceptance, rising efforts by the prominent players in developing nutrient-rich products, and the surging research activities by public and private agencies. The rising technological advancements in different sectors urges the demand for top-notch enzymes. Moreover, the high demand of enzymes in food and beverage industry is a key contributing factor for the market growth. Moreover, the rising prevalence and incidence rates of chronic illnesses across the world is driving the growth of the enzyme at a substantial rate.
On the other hand, the immense concern related to the handling and safety issues of enzymes is constricting the market growth. In addition to that, the issues with enzyme-based therapies also hinders industry growth.
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Growth Influencers:
Increasing prevalence of chronic disorders to drive market growth
The rise in chronic disorders, including diabetes, arthritis, cancer, chronic pain, nervous disorders, sciatica, push the demand for enzymes based medications. For instance, according to Indian Council of Medical Research (ICMR), the Institute for Health Metrics and Evaluation, and the Public Health Foundation of India in 2019, 72 million Indians suffer from Type-2 diabetes, and this statistic is projected to nearly double to 134 million by 2025, provided the current unhealthy dietary trends continue. In addition to that, the International Diabetes Federation states that the number of diabetic populations worldwide was 463 million in 2019. Thus, such high statistics aid in the market growth of the enzymes.
Growing demand from food and beverage applications
Enzymes have been gaining high traction in the food and beverage industry. The rising demand pushes the growth rate of the enzyme industry. For instance, in March 2021, Amano Enzymes introduced Umamizym Pulse, a non-GMO enzyme designed for use in a variety of plant protein products to deliver a pleasant, savory (umami) flavor, similar to that provided by monosodium glutamate (MSG), as well as a sensation of richness and complexity (kokumi). Umamizyme Pulse is an animal-free enzyme formulation optimized to produce high glutamic acid and cysteine levels; and less bitter flavor in proteins, including pea, soy, almond and rice.
Segments Overview:
The global enzyme market is segmented into type, source, reaction type, and application.
By Type,
? Protease
? Carbohydrase
? Lipase
? Polymerase and Nuclease
? Others
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The protease segment is estimated to cross the mark of USD five billion revenue by 2032. In addition to that, the carbohydrase segment is likely to hold an opportunity of more than USD six billion during 2022 to 2035.
By Source,
? Microorganisms
? Plants
? Animals
The microorganisms segment is projected to hold the highest growth rate of 9% over the forecast period.
By Reaction Type,
? Hydrolase
? Oxidoreductase
? Transferase
? Lyase
? Others
The hydrolase segment held the highest market share of more than 75% in 2021.
By Application,
? Food and Beverages
? Household Care
? Bioenergy
o Biofuels
o Bio-chemicals
o Biodiesel
o Biogas
o Others
? Pharmaceutical and Biotechnology
? Feed
? Textiles
? Pulp & Paper
? Detergent
? Nutraceutical
? Personal Care & Cosmetics
? Others
The food and beverages segment is expected to grow three times in revenue generation from 2022 to 2035. Moreover, on the basis of bioenergy segment, the biofuels sub-segment is expected to grow at the highest CAGR amongst all bioenergy segments.
Regional Overview
By region, the global enzyme market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America.
The North American market for enzymes held the largest market share of more than 35% in 2021 owing to the highly developed infrastructure and rising utilization rate of enzymes in different industries, namely pharmaceuticals, food, and bioenergy sectors. In addition to that, the European industry for enzymes is likely to grow at the highest growth rate of 9.1% over the anticipated period.
The Middle Eastern and African market for enzyme is also growing at a substantial rate due to the increasing strategic alliances.
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Competitive Landscape
The chief companies operating in the global enzyme market include Adisseo, AB Enzymes GmbH, Advanced Enzyme Technologies, Associated British Foods Plc, Amano Enzyme, Inc., BASF SE, Codexis, Inc., Chr. Hansen Holding A/S, DSM, F. Hoffmann-La Roche Ltd., DuPont de Nemours, Inc., Koninklijke DSM N.V., Novus International, Novozymes A/S, and Thermo Fisher Scientific Inc., among others.
The key market players are investing in product launches, collaborations, mergers and expansions to sustain in the market. For instance,
The global enzyme market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Enzyme market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of enzyme
? Manufacturing Cost Analysis: Cost-share of various components in enzyme, cost analysis of enzyme
? Industry Outlook
o Enzyme as an ultimate tool for bio-based industries
o Bioethanol yield by treatment of various enzyme
o Industrial and therapeutic enzymes for various uses
o Development of new generation of enzyme
o Recent Trends in Biodiesel and Biogas Production Methods
The global enzyme market report answers questions such as:
? What is the market size and forecast of the global enzyme market?
? What are the inhibiting factors and impact of COVID-19 on the global enzyme market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global enzyme market?
? What is the competitive strategic window for opportunities in the global enzyme market?
? What are the technology trends and regulatory frameworks in the global enzyme market?
? What is the market share of the leading players in the global enzyme market?
? What modes and strategic moves are considered favorable for entering the global enzyme market?
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