Alcohol and starch/sugar enzyme market is projected to be worth $2,238.4 million by 2018 and is expected to grow at a CAGR of 7.9% from 2013 to 2018. Alcohol and starch/sugar enzymes are a group of enzymes that occur in several organisms and facilitate the process of hydrolysis where a carbohydrate is broken into its component sugar molecule. Alcohol and starch/sugar enzymes also play a vital role in the inter conversion between alcohols and aldehydes. These enzymes are responsible to speed up all biological processes. Alcohol and starch/sugar enzymes find their applications in food and beverage, cleaning agents, bio-fuel production, animal feed, pharmaceuticals, biotechnology, and research and biotechnology. Increasing population combined with rising disposable income is creating tremendous demand for consumer products such as food and beverages, cleaning agents, as well as bio-fuels. All these factors are expected to drive the demand for alcohol and starch/sugar enzymes.
Alcohol enzymes are extensively used in various industrial applications that incorporate the production of food and beverages, biofuels, cleaning agents, etc. Due to their versatile applications, alcohol enzymes are in great demand to suffice the tremendous demand for industrial products from consumers. Starch/sugar enzymes are utilized in a number of industrial applications that incorporate food and beverages manufacturing, cleaning agents, biofuels, animal feed manufacturing, and so on.
North America is the largest market for the demand of starch/sugar enzymes with U.S. commanding a major share of the market. Rising concerns on health care and cosmetics lead to the demand of pharmaceuticals in drugs and cosmetics. North America is one of the largest segments for the use of starch/sugar enzymes. The demand for starch/sugar enzymes has increased in recent years, due to the introduction of new drugs used in enzyme replacement therapy. The increasing use of biofuels is one of the major drivers for the starch/sugar enzyme market.