Enzymes Market demand to surpass $10 bn revenue by 2024: Global Market Insights, Inc.

Asia Pacific enzymes market led by China, India, Japan, and South Korea will witness gains at over 7% up to 2024, the lifting of the ban by China on the import of frozen beef from Australia will positively impact enzymes demand in the food & beverages segment.

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Selbyville, Delaware, Jan. 17, 2019 (GLOBE NEWSWIRE) --

Worldwide Enzymes Market growth is estimated to exceed US$10 billion by 2024, according to forecast statistics by Global Market Insights, Inc. Shifting consumer preferences towards packaged and processed foods due to the rising awareness pertaining to food safety & security will drive the global enzymes market growth. The incorporation of enzymes in several food products promotes prolonged nutritional content and longer shelf life, thereby augmenting the product demand.

Positive application outlook of the essential enzymes in the forage to reduce indigestion among animals will be a key impetus for livestock farming growth. The necessity for fodder additives to enhance the livestock health will fuel the enzymes market size. Rising consumer health consciousness coupled with the growing population has propelled the global meat consumption. For instance, in China, per person meat consumption is around 60 kg of meat annually and is projected to reach over 85 kg by 2024.

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Continuous government support in the taxes & subsidies on numerous food items accompanied by the upgradation of trade practices between several economies across the globe will propel the industry landscape. Mass urbanization and economic & social development, particularly from emerging economies, are expected to boost the overall industry growth.

Participants of the enzymes market are globally undertaking R&D initiatives and are aiming at advancing their techniques for the expansion and development of enzyme-based products. For instance, BASF digitalized its research for the manufacturing of Spongolit aerating emulsifiers and Lamequik for feed in June 2017. Moreover, commercial feasibility and end usage of the product are the prime focus of the industry participants.

Carbohydrases dominated the overall enzymes market and accounted for over 50% share in 2017. It has wide-ranging applications across several end-use industries including food, animal feed and pharmaceuticals industries. Carbohydrase is a major ingredient in soft drinks as it catalyzes the carbohydrates breakdown into simple sugars. Increasing demand for sports drinks among young generation owing to changing lifestyle will boost enzymes market growth.

Browse key industry insights spread across 1200 pages with 1915 market data tables & 14 charts & figures from the report, “Enzymes Market Size By Product (Proteases, Lipases, Carbohydrases [Amylases, Xylanases, Cellulases, Pectinases, Lactases], Polymerases & Nucleases, Phytases, Catalyses), By Application (Food & Beverage, Processed Food, Diary, Bakery, Confectionary), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Sweden, Austria, Poland, Russia, China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, Australia, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia, Kuwait, Egypt), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/enzymes-market

Lipase enzymes market is expected to witness a substantial growth over the projected timeframe as it is essential for the digestion of fatty substances. Hydrolyzation of fats into smaller components enables ease in absorption through intestines and provides a positive outlook for the lipases market size. Lipase also plays an important role in the biodiesel production owing to its capability of processing glycerides and fatty acids via esterification & transesterification reactions, thereby enhancing the product portfolio.

Global enzymes market from detergent applications was valued over USD 1.3 billion in 2017. Strong applications potential in the detergent industry will provide a positive outlook to the enzymes market as they are widely used to enhance stain removal. Increased effectiveness of detergents with the addition of specific enzymes helps in the removal of protein-based stains. For instance, the removal of blood stains becomes very easy with the use of a normal enzyme-based detergent.

Asia Pacific, led by China, India, Japan, and South Korea will witness gains at over 7% up to 2024. The lifting of the ban by China on the import of frozen beef from Australia will positively impact product demand in the food & beverages segment. Furthermore, the expansion of pharmaceuticals and detergents industry is a key factor propelling regional growth. Companies are improving their capabilities to capture this emerging industry by expanding their commercial operations across high-growth markets with effective distribution systems.

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The global enzymes market is highly consolidated owing to the presence of a few dominating companies including Novozymes, DSM, Danisco, and BASF. Mergers & acquisitions, collaborations, supply chain agreements, and product enhancements are the crucial strategies adopted by these industry players.


Browse More New Reports:

  1. Food Enzymes Market Report, 2017–2024

    Rising consumer awareness regarding nutritional and health benefits of food enzymes will drive the industry growth. Food & beverage industry has witnessed a strong application outlook for quality improvement and eliminating the deficiencies from the products. Food Enzymes Market size was over USD 2 billion in 2016 and is estimated to exhibit over 7.5% CAGR from 2017 to 2024.

    https://www.gminsights.com/industry-analysis/food-enzymes-market
  1. Animal Feed Enzymes Market Report, 2018 – 2024

    Animal Feed Enzymes Market size was worth over USD 1.1 billion in 2016 and will cross 80 kilotons by 2024. Increasing awareness about feed quality to improve animal health will drive the animal feed enzymes market growth. Viscosity reduction of non-starch polysaccharides fodder, improved digestion rate along with ability to withstand acidic pH conditions are the key properties supporting product demand.

    https://www.gminsights.com/industry-analysis/animal-feed-enzymes-market


About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


        

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