Chicago, March 03, 2023 (GLOBE NEWSWIRE) -- 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.
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Leading players profiled in this report:
- Novozymes (Denmark)
- DuPont (US)
- DSM (Netherlands)
- Associated British Foods (UK)
- Amano Enzyme (Japan)
- BASF (Germany)
- Chr. Hansen (Denmark)
- Kerry Group (Ireland)
Factors Driving the Growth of Enzymes Market:
- Growing demand from various industries: Enzymes are used in a wide range of industries, including food and beverage, pharmaceuticals, biofuels, detergents, and animal feed. As these industries continue to expand, the demand for enzymes increases.
- Increased focus on sustainable products: Enzymes are considered more sustainable than traditional chemical processes. This has led to increased demand for enzymes as companies seek to reduce their environmental impact.
- Advancements in enzyme engineering: Advances in genetic engineering and biotechnology have led to the development of more efficient and effective enzymes. This has expanded the range of applications for enzymes and increased their overall market potential.
- Increased awareness of the health benefits of enzymes: Enzymes are used in many dietary supplements and are believed to have a range of health benefits, including improving digestion and immune function. This has led to increased demand for enzymes in the nutraceutical industry.
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.
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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 enzymes market is expected to impact several industries in the future, but one industry that is likely to be heavily impacted is the food and beverage industry:
- Baking industry: Enzymes are widely used in the baking industry to improve the quality of bread, cakes, and other baked goods. For example, enzymes can be used to enhance dough stability, increase volume, and improve texture. As demand for bakery products increases, the use of enzymes is likely to become even more widespread.
- Dairy industry: Enzymes are used in the production of various dairy products, including cheese, yogurt, and ice cream. For example, enzymes can be used to coagulate milk, leading to the formation of curds and whey. Enzymes can also be used to improve the texture and flavor of dairy products. As the demand for dairy products continues to grow, the use of enzymes is expected to increase.
- Meat industry: Enzymes can be used in the meat industry to tenderize meat and improve its flavor. For example, enzymes can be used to break down collagen and other connective tissues in meat, making it more tender. As the demand for meat products continues to grow, the use of enzymes in meat processing is likely to increase.
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