Demand for enzymes worldwide will expand to $7.2 billion in 2020, after average yearly increases of 4.6 percent. Over 60 percent of total demand will come from developed economies, while the increasing quality of healthcare and the continued shift of pharmaceutical and chemical production to developing countries will drive strong growth in China and India.
Specialty enzymes will post the fastest gains
Changes in healthcare and the pharmaceutical industries in developed regions will spur growth in demand for specialty enzymes, which are forecast to expand over 6 percent yearly through 2020. The increasing use of advanced diagnostic testing in developing countries, and governmental efforts to support biomedical research, will also drive demand.
Poor outlook for biofuel enzymes
The stagnation of the grain-based ethanol industry, and consumer concerns over use of food grains for fuel, will have a negative impact on biofuel enzymes. Demand is expected to remain relatively flat through the forecast period.
Above average growth in the Asia/Pacific region
In the Asia/Pacific region, increases in per capita GDP will drive demand for higher value products made using enzymes, supporting gains for industrial enzymes. The growing importance of the healthcare within the region will drive demand for specialty enzymes.
Scope of the Report
This report covers the scope, size, and growth of the $5.8 billion world enzyme market, including key trends spurred by changes in healthcare and increasing personal spending. For six world regions and 17 major countries, the study includes historical product demand for 2005, 2010, and 2015; and product demand forecasts for 2019 and 2024.
Products included in the scope of this study include:
In addition to a market share discussion for the industry leaders, sales estimates and profiles are provided for key industry participants such as Affymetrix, Associated British Foods, BASF, Chr. Hansen, DuPont, Dyadic, New England Biolabs, Novozymes, Roche, and Royal DSM.