Global Specialty Enzymes Market 2017-2021
About Specialty Enzymes
Enzymes, also called biocatalysts, are naturally occurring or synthetic proteins that accelerate or decelerate the rate of biochemical reactions, without undergoing change themselves. They have crucial applications in many industries, including food, feed, detergent, laundry, tanning, textiles, pharmaceuticals, cosmetics, and fine-chemicals. The global enzyme industry is segmented into industrial enzymes and specialty enzymes.
Technavio’s analysts forecast the global Specialty Enzymes market to grow at a CAGR of 7.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global specialty enzymes market for 2017-2021. To calculate the market size, the report considers the sales of products manufactured for pharmaceutical, biotechnology and R&D, and other segments (diagnostic, oilfield, and paper and pulp).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Specialty Enzymes Market 2017-c2021
Technavio recognizes the following companies as the key players in the global specialty enzymes market: AST Enzymes, BASF, Codexis, DSM, and Novozymes.
Other Prominent Vendors in the market are: Amano Enzyme, Aum Enzymes, Nutriteck, and Roche.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is embracing integrated business models. Strong foothold in the enzymes segment can only be held with a combination of integrated business models and sound technical expertise. Consumer understanding, innovation, quality and performance, and customer-centrism are vital parameters to achieve strong market presence. The prominent applications of specialty enzymes lie in the pharmaceutical and biotechnology sectors, where technical expertise, regulatory compliance, and sustainability are crucial.”
According to the report, one of the major drivers for this market is growing pharmaceutical and healthcare segments. The global healthcare sector is primarily driven by changing lifestyles, unhealthy eating habits, aging population, and increased incidence of chronic diseases across the globe. Specialty enzymes are crucial in the pharmaceutical industry. Pharmaceutical-grade specialty enzymes are expected to be compliant with the pharmacopeia standards.
Further, the report states that one of the major factors hindering the growth of this market is high cost associated with extremely pure pharmaceutical-grade enzymes. Although the enzyme market is characterized by the presence of many small players, only the major vendors enjoy the technological leverage and sophistication for maintaining the best quality. These major vendors often patent their products to secure their discoveries and support their R&D efforts, which reflects in high prices for the primary consumers.
AST Enzymes, BASF, Codexis, DSM, Novozymes, Amano Enzyme, Aum Enzymes, Nutriteck, and Roche.