USD 11.47 billion
Report ID: SQSG30I2034 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 66 | Figures: 75
Enzymes Market size was valued at USD 11.47 billion in 2021 and is poised to grow from USD 12.28 billion in 2022 to USD 20.31 billion by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).
Enzymes are responsible for managing or speeding up the reaction, providing various advantages over traditional chemical processes in terms of process efficiency and sustainability. As a result, enzymes are becoming increasingly popular in industrial applications. Enzyme catalysis has been scaled up for a variety of industrial operations, including the food and beverage business, textiles, detergents, paper & pulp, waste management, leather processing, biofuel sector, pharmaceuticals & biotechnology industry, and agriculture. Enzyme demand is expected to rise across all industry verticals due to their extremely efficient bio-catalysis, product selectivity, and lower physiological and environmental toxicity. Furthermore, the use of less energy (temperature) and total time reduction in the manufacturing process has resulted in significant cost savings. As a result, global enzyme uptake and use are expected to rise.
The increasing consumer awareness of one's health is attributable to the increased demand for food and beverage goods, which is predicted to favorably affect product demand throughout the forecast period. Enzymes are taken from various animal tissues, including the calf stomach, bacteria, and plant components, among others. With the advent of new technology, product makers may now select their desired host for manufacturing, such as transgenic plants or microorganisms.
US Enzymes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 11.47 billion
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The global Enzymes market is segmented based on type, application and region. Based on type, the market is segmented into Carbohydrase, Lipase, Protease, Others. Based on application, the Enzymes market is segmented into dietary nutrition, functional nutrients, sports nutrition, infant nutrition, others. Based on region, the Enzymes market is categorized into North America, Europe, Asia-Pacific, and MEA.
Enzymes market Analysis by type
Carbohydrase segment dominated the global enzyme nutritional segment and is projected to show similar dominance over the forecast period. This segment is also estimated to be the fastest-growing market. The rising demand for sports drinks among various demographic segments worldwide is the primary development factor for the carbohydrate market. The intake of carbohydrates is increasing in developing nations because In nations with significant levels of poverty, people rely on low-cost diets that are frequently starchy and carbohydrate-heavy. Meat consumption, while growing in recent years, is still quite low due to the high cost.
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In 2021, the North America region dominated the industry, accounting for more than 37.50% of worldwide revenue. This is due to the presence of different end-use firms in the food and beverage, laundry detergent, personal care & cosmetics, and pharmaceuticals industries, as well as the region's major countries' considerable scope for R&D operations. Because of rising meat output, particularly in China, the Asia Pacific region is expected to increase at the highest CAGR from 2022 to 2028. Protease and carbohydrase demand is increasing dramatically across the country due to increased demand from the pharmaceutical and food and beverage industries.
The rising use of nuclease and polymerase enzymes in biotechnology applications is expected to drive industry expansion even further. Because of the growing population and rising income levels in emerging countries such as Brazil and Columbia, the textile and food and beverage industries are expected to drive industrial growth. The pharmaceutical and cosmetic industries in the Middle East and Africa (MEA) are expected to grow due to a variety of factors, including rising health awareness, rising disposable income, and rising demand for high-end cosmetic products, which are expected to stimulate product demand in the aforementioned industries.
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Enzymes market Driver
Digestive enzymes are in high demand because they aid in the treatment of pancreatic and gastrointestinal illnesses. Furthermore, the rising prevalence of intestinal disorders, as well as pancreatic operations, will drive growth in the approaching years. Furthermore, the widespread availability of over-the-counter medications is expected to boost global enzymes market growth.
Enzymes market Restraint
Many small-scale manufacturers compete with market leaders in terms of the application specificity of the food enzymes generated in the worldwide food enzymes market. This, in turn, is determined by the quality of manufacturing strain created by manufacturers. Various technology licensors enable small-scale manufacturers to build programmable enzymes that can then be scaled up to produce big numbers. Dyadic International Inc. (US) is one such licensor, allowing smaller firms to create large volumes of high-mobility food enzymes on-site using its C1 platform technology.
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Key players in the global enzymes market are focusing on expanding their footprint through business expansions, product launch, high R&D investments, mergers and acquisitions, partnerships, joint ventures, and partnerships.
Enzymes market Top Players Company Profiles
Enzymes market Recent Development
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According to our analysis, Lipase, protease, Polymerases & Nucleases, Phytases, and Catalases are other key categories in the digestive enzyme segment. Nutritional enzymes available in the market include a blend of enzymes or Multi-Enzymes which is another key factor driving the demand for single enzymes as well as the complete enzyme segment. For instance, the ingredients in multi-enzyme capsules are a blend of amylase, lipase, protease, cellulase, and lactase enzymes for better digestive health. Nutritional enzyme supplements available in the market come in plastic bottles with 60 to 120 capsules in 1 bottle.
|Market size value in 2021||USD 11.47 billion|
|Market size value in 2030||USD 12.28 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Enzymes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Enzymes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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