Enzymes are proteins that act as biocatalysts to accelerate the reaction and produce the desired results in reactions in metabolic processes. Currently, enzymes have gained increased popularity, due to their potential applications in several industries such as food and animal feed, textiles and detergents, pharmaceuticals and biotechnology R&D, manufacturing industries, and others (paper and pulp processing, leather processing and agriculture). The use of enzymes in the manufacturing processes results in significant cost reductions. This is attributed to the utilization of less energy (temperature), requirement of less time for manufacturing process, and provision of better substrate activity.
The global enzymes market was valued at $7,082 million in 2017, and is projected to reach $10,519 million in 2024 at a CAGR of 5.7% from 2018 to 2024. The major factor that contributes towards the growth of the enzymes market is high demand for effective pharmaceuticals. Moreover, other factors boosting the market growth include increase demand for renewable energy sources such as biofuels, rise in prevalence of various chronic diseases such as digestive diseases & inflammation, and wide applications of enzymes in various industries. However, factors such as handling & safety issues of enzymes and high sensitivity of enzymes to temperature & pH hamper the market growth. Conversely, increase in awareness about the application of enzymes in protein engineering technology and high market potential in the untapped emerging economies are expected to provide lucrative growth opportunities for the market expansion.
The global enzymes market is segmented on the basis of type, source, reaction type, application, and region. Based on type, the market is fragmented into protease, carbohydrase, lipase, polymerase and nuclease, and other types. On the basis of source, it is categorized into microorganisms, plants, and animals. By reaction type, it is classified into hydrolase, oxidoreductase, transferase, lyase, and other reaction types. The applications covered in the study include food and beverages, household care, bioenergy, pharmaceutical and biotechnology, feed, and other applications. Region wise, it is analyzed for North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global enzymes market with current trends and future estimations from 2017 to 2024 to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
Polymerase and Nuclease
By Reaction Type
Other Reaction Types
Food and Beverages
Pharmaceutical and Biotechnology
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
Koninklijke DSM N.V.
Advanced Enzyme Technologies Ltd.
AB Enzymes GmbH
Amano Enzyme, Inc.
F. Hoffmann-La Roche Ltd.
Thermo Fisher Scientific Inc.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
BBI Enzymes Ltd.
Procter & Gamble Co.
Novus International, Inc.
Chr. Hansen A/S