North America Enzymes Market By Source (Animals, Plants and Microorganisms), By Type (Protease, Carbohydrase, Lipase, Polymerase and Nuclease and Other Types), By Reaction Type (Transferase, Lyase, Hydrolase, Oxidoreductase and Other Reaction Types), By Application (Household Care, Bioenergy, Pharmaceutical and Biotechnology, Food & Beverages, Feed and Other Applications), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
The North America Enzymes Market would witness market growth of 6.98% CAGR during the forecast period (2021-2027).
Enzymes are considered as biocatalysts that accelerate the reaction rate and help in generating the desired outcomes in biological reactions. They have a high content of protein and have gained a considerable amount of popularity in the last few years due to their broad uses. Enzymes have applications in textiles and detergents, pharmaceuticals and biotechnology R&D, manufacturing industries, food and animal feed, and others (paper and pulp processing, leather processing, and agriculture). Their utilization in the manufacturing techniques helps in cutting down the cost and reduces energy consumption combined with superior substrate activity, thereby boosting the enzymes market.
One of the emerging avenues for R&D application is protein engineering. This domain includes the discovery and manufacturing of the latest kinds of enzymes to accelerate reactions that do not happen automatically. The enzymes find high utilization across a broad array of areas like pre-digestion of baby foods, food processing, meat tenderization, fruit juice clarification, germination in breweries, cheese manufacturing, and conversion of starch into glucose, hence helping the enzymes market to expand further.
Domains like paper processing, contact lens cleaners, biological detergents, biofuels, rubber processing, and molecular biology have a huge demand for enzymes. Some of the parameters that align with the market growth are the increasing population, growing consumer awareness about high food quality, and major consumption of dietary needs.
The US market dominated the North America Plants Market by Country 2020, and would continue to be a dominant market till 2027. The Canada market is experiencing a CAGR of 9.8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 8.9% during (2021 - 2027).
The Carbohydrase market dominated the Canada Enzymes Market by Type 2020, thereby, achieving a market value of $143.1 million by 2027, growing at a CAGR of 8.3 % during the forecast period. The Protease market is expected to witness highest CAGR of 8.7% during (2021 - 2027).
Based on Source, the market is segmented into Animals, Plants and Microorganisms. Based on Type, the market is segmented into Protease, Carbohydrase, Lipase, Polymerase and Nuclease and Other Types. Based on Reaction Type, the market is segmented into Transferase, Lyase, Hydrolase, Oxidoreductase and Other Reaction Types. Based on Application, the market is segmented into Household Care, Bioenergy, Pharmaceutical and Biotechnology, Food & Beverages, Feed and Other Applications. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report includeBASF SE, International Flavors & Fragrances, Inc. (DuPont Nutrition), Associated British Foods PLC (Wittington Investments Limited), Koninklijke DSM N.V., Novozymes A/S, Kerry Group PLC, Chr. Hansen Holding A/S, Merck Group, Sanofi S.A., and Codexis, Inc.
Scope of the Study
Market Segments covered in the Report:
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