Enzymes Market Summary
According to the report published by Allied Market Research, the global enzymes market size is estimated to reach $10.2 billion by 2031, having endorsed a value of $5.8 billion in 2021, and exhibiting a CAGR of 6.0% from 2022 to 2031. This market report provides an in-depth examination of top market segments, leading investment pockets, market dynamics, market capacity and forecasts, competitive analysis, and regional analysis. It is an essential resource for the stakeholders, and leading market players to strategic plan and enhance their competitive advantage.
High prevalence of chronic diseases, increase in prevalence of digestive disorders, surge in demand of biofuels drive the enzymes market during the forecast period.
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The factors that drive the growth of the global enzymes market share include upsurge in demand for cellulosic- & amylase-based biofuels, rise in need for effective pharmaceuticals & cosmetics, upsurge in usage of functional food & beverages (that contain enzymes), and increase in usage of enzyme-based techniques for detection & treatment of various chronic diseases. However, restrictions related to chemical properties of enzymes and safety issues arising due to the contamination of enzymes impede the market growth.
Enzymes Market Drivers:
The usage of enzymes in food and beverage companies to transform complex molecules into simpler molecules
The rise in the prevalence of chronic diseases, including digestive disorders and inflammations, as well as cancer and AIDS
Surge in demand for enzymes in the pharmaceutical industry to facilitate the synthesis of intermediates in the production of active pharmaceutical ingredients (APIs) to produce effective medicinal drugs
The increase in the demand for renewable sources of energy, including biofuels.
Recent strategies in Enzymes Market:
In April 2022, seqWell Inc. and Codexis, Inc. had announced the initiation of a strategic partnership and investment to accelerate the commercialization of seqWell’s genomics workflow solutions. This collaboration and investment has enabled seqWell to continue rapidly advancing its commercialization of new and existing products in the fast-growing genomics and next generation sequencing (NGS) library prep market.
In June 2020, Novozymes launched eco-friendly “umami flavoring” made with enzymes for enhancing the taste associated with cooked meat.
In June 2020, DSM launched “DelvoPlant” range of enzymes for improvising taste, sweetness and texture of plant-based drinks. This new product will aid in increased capacity or reduced costs which is particularly important given the current volatility in the energy industry.
Enzymes Market Segmentation Overview:
By source, the microorganisms segment accounted for the largest market share in 2021, holding to more than half of the global enzymes market revenue, and is projected to lead the trail during the forecast timeframe. On the other hand, the plants segment would display the fastest CAGR of 7.0% from 2022 to 2031. The animals segment is also studied in the report.
By application, the household care segment accounted for the major market share in 2021, acquiring nearly one-third of the global enzymes market revenue. Furthermore, the pharmaceutical and biotechnology segment would showcase the fastest CAGR of 7.3% from 2022 to 2031. The report also examined the food and beverages, feed and others, and bioenergy segment in the report.
By type, the carbohydrase segment held the major market share in 2021, contributing to more than two-fifths of the global enzymes market revenue, and is expected to rule the roost by 2031. However, the polymerase and nuclease segment would portray the fastest CAGR of 9.6% from 2022 to 2031. The report also discusses the protease, lipase, and other segments in this report.
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By region, North America garnered the largest market share in 2021 and accounted for more than one-third of the global enzymes market revenue. Simultaneously, the Asia-Pacific region would cite the fastest CAGR of 7.9% from 2022 to 2031. The other provinces discussed in the report include Europe and LAMEA.
The prominent players that have been analyzed and identified in the global enzymes market include, THERMO FISHER SCIENTIFIC INC. (AFFYMETRIX, INC.), AB ENZYMES GmbH, Koninklijke DSM N.V., Advanced Enzyme Technologies Ltd., Codexis, Inc., DUPONT DE NEMOURS, INC., HOFFMANN-LA ROCHE LTD., BASF SE, NOVOZYMES A/S, and F. AMANO ENZYME INC. These leading players have adopted a variety of strategies such as partnership, geographic expansion, joint ventures, new product launches, and others to demonstrate their presence in the market.
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