Global Enzymes Market to Surpass USD 17,875.7 Million and Rise at a CAGR of 9.4% Owing to COVID-19 Chaos by 2026 – Exclusive Report [150 Pages] by Research Dive

The COVID-19 outbreak has negatively impacted the global enzymes market in 2020. However, the rising adoption of enzymes in various industries including food & beverage, diary, leather, and others is projected to drive the global market growth over the forecast period.

New York, USA, Dec. 15, 2020 (GLOBE NEWSWIRE) -- As per a Research Dive published report, the global enzymes market valued for $8,900.0 million in 2018 and is estimated to surpass $17,875.7 million by 2026, exhibiting a CAGR of 9.4% from 2019 to 2026.

Impact on Market Due to COVID-19 Outbreak

The global enzymes industry is predicted to witness an upsurge in growth rate during the forecast period. As per the report, the enzymes market was likely to rise at a CAGR of 7.0% from 2019 to 2026 prior to COVID-19 crisis. However, due to the COVID-19 pandemic, the global market is projected to rise at a CAGR of 9.4% over the forecast period.

This is mainly owing to the growing adoption of enzymes in various industries such as food & beverages, diary, detergent, and leather industry. Comprehensive analysis on drivers, challenges, opportunities, restraints, and strategies executed by various governments and market players across the globe are further provided in the report.

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Present Market Scenario Due to COVID-19 Chaos

The COVID-19 pandemic has adversely affected the global enzymes market in 2020. The decline in the growth rate of the global market in 2020 is majorly attributed to slowing or shutting down of processes such as manufacturing, distribution, and development of enzymes. However, some of the companies operating in the enzymes market are still fully operational in the midst of pandemic with an aim to provide essential enzymes for food production and sustain the losses. For example, Chr. Hansen Holding A/S, in March 2020 announced that the company is engaged and fully operational in manufacturing of enzymes.

The anticipated pre COVID-19 market size for enzymes market was $10,189.6 million in 2020 and is expected to observe an increase in growth and reach up to $10,617.6 million.

Global Market to Witness Robust After Pandemic

The global enzymes market is anticipated to experience an upsurging growth post-coronavirus pandemic. Restoration of demand for food, cosmetics, and biological components indicates profitable environment for the enzyme market growth after the end of pandemic. Additionally, the surging demand for medicinal drugs and innovative formulation of enzymes for human welfare are other factors to foster the market growth by the end of 2026.

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Prominent Players and Key Developments

The key players operating in the enzymes market are adopting several strategies to acquire a strong position in the global industry, which will drive the market growth by 2026. For instance, in September 2019, DuPont announced the launch of POWER Pasta enzymes in order to assist food production companies to serve products at minimal investments with superior taste and appearance.

The major players of the global enzyme market consist of -

  1. BASF
  2. Royal DSM
  3. Enmex
  4. Danisco A/S
  5. Advanced Enzymes
  6. Chr. Hansen
  7. Lumis Biotech
  8. Hayashibara
  9. Aumgene Biosciences
  10. Codexis.

The report summarizes and provides various aspects of all the major players functioning in the overall market such as financial performance, product portfolio, recent developments, strategic moves, SWOT analysis, and many more.

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