Enzymes Market Regional Insights And Demand Forecasts For Emerging Economies
Enzymes Industry Overview
The global enzymes market size was estimated at USD 60.48 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. The rising demand for food & beverage products is attributable to the increasing consumer awareness related to one’s health and is expected to positively impact product demand over the forecast period.
Enzymes are extracted from the different parts of animals including calf stomach, microorganisms, and plant materials, among others. with the emergence of advanced technologies, product manufacturers can choose their required host for production such as transgenic microorganisms or plant. The key companies are often using microorganisms as a host including fungi, enzyme-producing yeast, and bacteria at a commercial level.
Gather more insights about the market drivers, restrains and growth of the Enzymes Market
The key players are now using eco-friendly technologies for different uses such as product modification and enhancement of product properties. The global enzymes market is likely to expand at a significant rate in the coming years. Technological advancements across the industry are considered one of the key driving factors.
The product growth across the world can be attributed to the growing demand for brewing & bakery applications. They are used in the formulation of fruit juices to enhance the quality and yield of fruits. In wine processing, they are used to maintain the clarity, color, and organoleptic attributes of wine. The rising level of urbanization and a global population largely contribute to the overall growth of the food & beverage industry. Thus, positively influencing the industry growth over the forecast period.
The growing demand for poultry and swine feed worldwide plays a key role in the market growth of the overall feed industry. Animal feed helps in improving the health and well-being of swine and poultry animals. The increasing animal feed market at a global level is anticipated to boost the overall industry growth over the forecast period.
Fluctuations in the prices of animal-based raw materials, such as body parts of animals, is a challenge for the industry. The raw materials affect the production cost, thereby influencing the enzyme market price.
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• The global refinery catalyst market size was valued at USD 6.75 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030. The market is expected to grow on account of the increasing demand for transportation fuel globally. Stringent regulations coupled with increasing demand for petroleum and petroleum-derived products/chemicals are likely to steer market growth.
• The global specialty enzymes market size was valued at USD 5.31 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 6.6 % from 2023 to 2030. The growth of the product market is attributed to the growing prevalence of chronic diseases such as cancer and rheumatoid arthritis. Furthermore, the expansion of food industries drives the demand for specialty enzymes.
Enzymes Market Segmentation
Grand View Research has segmented the global enzymes market report on the basis of type, product, source, and region
Enzymes Type Outlook (Revenue, USD Million, 2018 - 2030)
• Industrial Enzymes
o Food & Beverages
o Meat Processing
o Dairy Products
o Beverages
o Bakery & Confectionery
o Other Food Products
o Detergents
o Animal Feed
o Ruminants
o Swine
o Poultry
o Aquafeed
o Others
o Biofuels
o Textiles
o Pulp & Paper
o Nutraceutical
o Personal Care & Cosmetics
o Wastewater
o Others
• Specialty Enzymes
o Pharmaceutical
o Research & Biotechnology
o Diagnostics
o Biocatalyst
Enzymes Product Outlook (Revenue, USD Million, 2018 - 2030)
• Carbohydrase
• Proteases
• Lipases
• Polymerases & nucleases
• Others
Enzymes Source Outlook (Revenue, USD Million, 2018 - 2030)
• Plants
• Animals
• Microorganisms
Enzymes Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexic
• Europe
o UK
o Germany
o France
o Spain
o Italy
• Asia Pacific
o China
o India
o Japan
o South Korea
o Indonesia
o Australia
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o Saudi Arabia
o Turkey
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Key Enzymes Company Insights
Some of the key players operating in the market include Novozymes AG, DuPont Danisco, and DSM.
• Novozymes deals in industrial enzymes and microorganisms. The company discovers enzymes in nature and improves them for further use in several end-use industries such as dishwashing & laundry detergents; food & beverage sector; animal feed; and the production of biofuels. The company distributes enzymes in over 40 end-use industries, it has presence across 30 countries with production facilities in Denmark, Brazil, Argentina, China, Canada, the U.S., and India.
• Danisco was acquired by DuPont in January 2011. Food ingredients and enzymes are combined with DuPont’s business divisions, namely ‘Nutrition and Health’ and ‘Industrial Biotechnologies,’ and the company markets enzymes under the brand DuPont Danisco. Food enzymes of DuPont Danisco provide an improved nutritional profile, enhanced bio protection, lower environmental impact, greater cost efficiency, and better texture and taste.
• DSM is a global science-based company active in nutrition, healthcare, and industrial materials. The company caters its products to numerous industries such as animal nutrition & health, food & beverage, energy, medical, paints & coatings, life protection, personal care, and sports & leisure. It operates through three clusters, namely nutrition, materials, and innovation center. The company’s nutrition segment is responsible for the production and marketing of enzymes used for various applications. It serves its customers in more than 50 countries across the globe.
Recent Developments
• The merger of Novozymes and Chr Hansen was cleared by the European Union in December 2023, which would be known as Novonesis in future. Furthermore, a definitive agreement to acquire part of the global lactase business of Chr Hansen and Novozymes has been concluded by Kerry Group on a carve-out basis. The Commission has not yet given its consent to the acquisition. It is expected to close in H1 2024.
• In December 20230, a new partnership with Ginkgo Bioworks, which is building the leading platform for cell programming and biosecurity was announced by Green Lab. Green Lan is an emerging next generation of plant biotechnology company. It will use Ginkgo Enzyme Services to identify a new enzyme of critical importance for use in this application and develop a product to degrade PFAS.
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