Enzyme Market Size to Surpass USD 21.3 Billion by 2032 | North America Dominated Highest Revenue Share of 39.5%

Increasing demand for enzyme-based products in the treatment of cancer, cardiovascular disease, and lysosomal diseases is expected to drive the growth of the global market for such products during the forecast period.


New York, April 10, 2023 (GLOBE NEWSWIRE) -- The global enzyme market is estimated to be valued at USD 21.3 billion by 2032 from USD 11.5 billion in 2022 and is expected to exhibit a CAGR of 6.6% during the forecast period 2023 to 2032. Enzymes are extracted from animal components like microorganisms, calf stomachs, and plant materials. Product manufacturers can now select the necessary host for production by developing advanced technologies, for example, transgenic plants or microorganisms. Important businesses on a commercial level frequently employ microorganisms as hosts, such as fungi, enzyme-producing yeast, and bacteria. They use eco-friendly technologies for multiple items, like changing and improving products' properties.

Enzymes Market Value

To understand how Enzyme Devices Market report can bring a difference to your business strategy, Ask for a brochure -  https://market.us/report/enzymes-market/request-sample/

Key Takeaway:

  • By Type, the industrial segment will likely hold the highest market revenue from 2023 to 2032.
  • By Product, the carbohydrate segment was anticipated to dominate the market due to the increasing demand for various end-use applications.
  • By Source, the rising demand for fungi-based enzymes drives the microorganisms source segment in the market.
  • By Application, the household care segment holds the largest share globally from 2023 to 2032.
  • In 2022, North America dominated the market with the highest revenue share of 39.5%.
  • Asia-Pacific has a market revenue share of 23.1%.
  • Asia-Pacific will grow at the fastest CAGR from 2023-2032.

The global industry will likely expand at a significant CAGR in the coming years. One of the most important drivers is technological advancement in the industry. The rising demand for bakery and brewing applications is to blame for the high worldwide product demand. These factors will drive the growth of the market.

Factors Affecting the Growth of the Enzyme Devices Market

There are several factors that can affect the development of the enzyme market. Some of these factors include:

  • Increasing health consciousness of consumers: The increasing health consciousness of consumers is responsible for the rise in food and beverage demand.
  • Rising prevalence of chronic ailments: The rising use of enzyme-based products in treating cancer, cardiovascular disease, and lysosomal diseases is expected to drive demand for the products during the forecast period
  • Increasing technological advancements: Growing technological advancements offer enormous opportunities for market growth.
  • Expansion of market during the COVID-19 pandemic: The enzyme market expanded during the COVID-19 pandemic as consumers became more health-conscious.

Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at- https://market.us/report/enzymes-market/#inquiry

Top Trends in Global Enzyme Market

The latest trend in the market is implementing advanced technology into the manufacturing process. Different companies focus on technological advancements to develop innovative products. For example, Codexis, Inc. and Porton Pharma Solutions, Ltd. announced a strategic alliance to add Codexis biocatalytic technology to Porton's global custom intermediates, and active pharmaceutical ingredients (API) development and manufacturing business had been introduced. This collaboration will accelerate the commercialization and development of novel, low-cost enzyme-based small-molecule drugs.

Market Growth

The increasing health consciousness of consumers is responsible for the increase in food and beverage demand. During the forecast period, it is estimated to affect product demand positively. The expanding global population and rapid urbanization primarily influence the overall growth of the food and beverage industry. It will positively impact the market's expansion. The meal helps improve the overall health and well-being of poultry and swine. Thus, the market's development is attributed mainly to the worldwide demand for feed for poultry and pigs. The global animal feed market is estimated to boost industry growth during the forecast period.

Regional Analysis

North America held the largest revenue share of 39.5% of the global enzymes market. The reason for the dominance is the major countries in the region which have a lot of room for R&D and a variety of end-user manufacturers in the pharmaceutical, personal care, cosmetics, laundry detergent, and food and beverage industries. The Asia-Pacific region is anticipated to grow at the fastest CAGR between 2022 and 2030 due to rising meat production, mainly in China. The pharmaceutical and food & beverage industries are driving a significant rise in demand for carbohydrates and protease nationwide.

Competitive Landscape

The competitive landscape of the market has also been examined in this report. Paper and pulp, detergents, research, food and beverage, biotechnology, pharmaceutical, and nutraceuticals, among other end-use applications, are driving significant market expansion. Key industry players focus on joint ventures, mergers, and acquisitions to grow the business. For instance, in April 2021, BASF SE and Sandoz GmbH, a Novartis AG subsidiary, invested in Austria's Kundl/Schaftenau Campus. It aimed to expand BASF SE's product line and increase production capacity.

To know about the assumptions considered for the study, download the pdf brochure

Scope of the Report

Report AttributeDetails
Market Value (2022)USD 11.5 Billion
Market Size (2032)USD 21.3 Billion
CAGR (from 2022 to 2032)6.6%
North America Revenue Share39.5%
Asia Pacific Revenue Share23.1%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Market Drivers

The increasing use of enzyme-based products in treating cardiovascular disease, cancer, and lysosomal diseases is estimated to drive demand during the forecast period. The global cancer incidence is the primary factor driving the market growth during the forecast period. Pharmaceutical manufacturers are aware of integrating biocatalysts into their manufacturing processes. For example, according to the American Cancer Society, 1.8 million new cancers were diagnosed in the United States in 2020, and 606,520 people died. Thus, the increasing significance of such chronic diseases will hold the market's growth during the forecast period

Market Restraints

The substrates are converted into a product with the help of enzymes. Enzymes prominently influence a cell's life processes. Due to growing awareness of the customers about their health, the enzyme has seen a significant increase in demand in recent years. Due to the utilization of various technological procedures, the extensive market is estimated to grow in the upcoming years. Other substances from plants and animals are used in the production of enzymes. To raise product quality, manufacturers are developing various strategies. Enzymes convert complicated food into simpler molecules. Due to a lack of standard regulatory policies, the enzyme market will not expand. European regulatory standards related to the approval of additives in feed can pose challenges for product manufacturers in the region. Moreover, the high costs of products are the key factors restraining the industry's growth.

Market Opportunities

New technical applications of enzymes are developed to increase the production processes. Numerous companies are adopting enzymes in the textile industry as a substitute for chemicals for producing mild reactions through which chemical-free and clean garments will have obtained. In the present enzymes, gene modification has resulted in tremendous advancements. This will allow enzymes to be functional under changing pH levels and temperatures. All the companies have focused on discovering new applications, like pulp bleaching and bio-washing.

Grow your profit margin with Market.us - Purchase Enzyme Premium Market Report at  https://market.us/purchase-report/?report_id=54518

Report Segmentation of the Enzyme Market

Type Insight

The industrial sector held the highest market revenue. Animal feed, detergent, food and beverage, textile, paper and pulp, and wastewater are just a few end-use industries with a rise in product demand. Product inclusion in detergents is expected to be driven by the increasing use of detergents in industrial and household applications in the developing economies of Brazil, China, and India. They are used to convert cellulosic to produce ethanol from cellulosic. The increasing rate of fossil fuel depletion is estimated to drive demand for biofuels which will further go the need for the Product.

Product Type Insight

The carbohydrase segment dominated the enzyme market. Owing to the rising demand from various end-use applications, such as animal feed, pharmaceuticals, and food and beverages. The increasing demand for amylases and pectinases in processing fruit juices for liquefaction, maceration, and clarification to increase product quantity and quality will have anticipated fueling the market's direction. The catalytic hydrolysis of protein peptides to amino acids and their breakdown by protease is broadly used in different applications, like detergents, food, animal feed, chemicals, and pharmaceuticals. It is anticipated that the growing detergent, medicine, and chemical end-use industries in developing economies like India, China, and Brazil will further expand the market.

Source Insight

The microorganisms source segment contributed the highest global revenue and dominated the market. Enzymes derived from fungi are best suited to vegetarian diets, which may increase product demand in the coming years. The increasing demand for fungi-based enzymes accounts for a significant portion of the market due to their wide range of end-use applications. The animal source segment had the second-largest global revenue share. Enzymes derived from animals are obtained from the pancreas and stomachs of pigs and cattle. Pancreatitis, exocrine pancreatic insufficiency, and pancreatic cancer are all treated with these products. It is estimated that this will boost the market in the coming years.

Application Insight

The household care sector held the largest market share with its wide application. Due to the growing public awareness about the benefits of enzymes' effects on the environment, the enzyme market for household care has seen significant growth. Also, the demand for enzyme-based products has significantly increased due to the benefits of using enzymes for garment laundering. The applications of enzymes for synthesizing antimicrobials, enzyme therapy, the dynamic kinetic resolution of drugs, the synthesis of APIs, and the synthesis of amino acids are why the pharmaceutical and biotechnology segment of the market is expanding the fastest rate.

Get a glance at the market contribution of various segments including country and region wise -Download a sample report: https://market.us/report/enzymes-market/request-sample/

Market Segmentation

Based on Type

Based on Product Type

  • Protease
  • Carbohydrase Lipase
  • Polymerase & Nuclease
  • Others Product Types

Based on Source

  • Plants
  • Animals
  • Microorganisms

Based on Application

  • Food and Beverages
  • Household Care
  • Bioenergy
  • Pharmaceutical & Biotechnology
  • Other Applications

By Geography

  • North America
    • The US
    • Canada
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Mexico
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Market Key Players

  • Novozymes
  • DSM
  • Associated British Foods Plc
  • Adisseo
  • Advanced Enzyme Technologies
  • Enzyme Development Corp.
  • Novus International
  • DuPont Danisco
  • Other Key Players.

Recent Development of the Enzyme Market

  • In April 2021, BASF SE declared that they had agreed to invest at their kundl/Schaftenau Campur in Austria with Sandoz GmbH, a subsidiary of Novartis. As a result of this agreement, BASF SE will be able to boost its global production of biotechnology and enzyme products.
  • In February 2021, IFF announced that the biosciences and nutrition business of Dupont and IFF had completed their merger; IFF will be the new company's name when it comes into being. IFF will benefit from this merger in its global business expansion.
  • In June 2020, Novozymes acquired the precision-biotics Group officially. Thanks to this acquisition, the company will adopt new strategies and make further advancements in human oral and gut health.

Browse More Related Reports:

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us on LinkedIn | Facebook | Twitter

Our Blog: 

 

Coordonnées