Enzymes Market by Product Type (Industrial enzymes and Specialty Enzymes), Source (Microorganism, Plant, and Animal), Type, Industrial Enzyme Application, Specialty Enzymes Application and Region - Global Forecast to 2027
The enzymes market is projected to reach USD 16.9 Billion by 2027, growing at a CAGR of 6.8% from 2022 to 2027. With the increasing use of enzymes as chemical substitutes, particularly in food and beverage and pharmaceutical applications, the market for industrial and specialty enzymes have experienced significant growth. Moreover, the players in the market are also expanding their production facilities and launching new products to cater the growing market demand. For Instance, in December 2020, Merck KGaA has expanded the life sciences production facility in US to supply critical products to the customers like covid-19 vaccines, developing lifesaving therapies and providing products and services for pharmaceutical manufacturing. In 2019, AB Enzymes, subsidiary of Associated British Foods, has launched the food grade enzymes product named “ROHALASE” specifically developed for wheat-starch-gluten separation processes.
“Carbohydrases Enzymes are estimated to have high demand in type segment.”
Carbohydrases dominated the market for enzymes, by type, in terms of value, in 2022. The usage of enzymes is on surge, due to the applications in varied sectors such as food & beverages, bioethanol, paper & pulp, textiles & leather, pharmaceutical, and research & biotechnology. The usage of enzymes helps in higher product quality, lower manufacturing cost, and less waste, and reduced energy consumption. They are often being used as an alternative to mitigate the usage of chemicals in various applications. These benefits of enzymes are contributing as a driving factor to boost the usage of enzymes in the various applications globally.
“Asia Pacific is projected to witness the growth of 7.85% during the forecast period in the enzymes market.”
The enzymes market in the Asia Pacific region is growing at a CAGR of 7.85%. With the presence of leading companies such as Advanced Enzymes (India), Amano Enzyme (Japan), Aumgene Biosciences (India) and emerging startups such as Noor Enzymes (India), Synkromax Biotech Pvt. Ltd. (India) and Jiangsu Boli Bioproducts Co., Ltd (China) in the region, the supplier market is thriving. In addition, application of industrial enzymes in the textiles & leather industry has caused a stir in the demand. With this sector becoming one of the important industries in the Asia Pacific region, owing to changes in technological innovations in machinery and globalization of business, the demand for enzymes is expected to rise.
The break-up of Primaries:
By Company Type: Demand side – 43%, Supply side – 57%
By Designation: C level – 29%, Managers – 21%, Executives – 50%
By Region: North America – 34%, Europe – 37%, Asia Pacific – 16%, RoW –13%
Leading players profiled in this report:
Associated British Foods (UK)
Amano Enzyme (Japan)
Chr. Hansen (Denmark)
Kerry Group (Ireland)
Merck KGaA (Germany)
Roche Holding (Switzerland)
The report segments the enzymes market based on product type, type, source, reaction type, application (industrial enzymes and specialty enzymes) and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global enzymes market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
To get a comprehensive overview of the enzymes market
To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
To gain insights into the major countries/regions in which the enzymes market is flourishing
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