The Global Enzymes Market size is expected to reach $13.2 billion by 2027, rising at a market growth of 8% CAGR during the forecast period. Protein molecules that behave as a biological catalyst to accelerate metabolic reactions are termed as enzymes. Enzymes also display functions like the capacity to react with a particular reactant. Over the years, enzymes find applications in various fields like photography, food processing, contact lens cleaners, paper, rubber, biofuels, molecular biology sectors, and biological detergents.
The growth of the enzyme market is directly proportional to the massive demand for the enzyme in end-use industries such as food & beverage, home cleaning, animal feed, and biofuel. Moreover, the global enzyme market is expected to fuel by the growing awareness about health among consumers, which, in turn, increased the consumption of functional food products.
In addition, factors like massive demand for high-quality food products and natural taste & flavor have supported the growth of the market. This pattern helps in increasing the demand for the popularity and acceptance of flavored & processed foods. These food enzymes behave as catalysts to disintegrate vitamins and nutrients of complex compounds into smaller compounds. Some of the determinants for the growth of the enzymes market are increasing awareness regarding the usage of enzymes in protein engineering technology and emerging growth possibilities in unexplored markets.
Based on Source, the market is segmented into Animals, Plants and Microorganisms. Microorganisms-derived enzymes segment would lead the market in 2020, owing to their broad-scale production, the advent of genetically engineered microorganisms, and wide applications. On the other hand, the purification of microorganism-derived enzymes is a tedious process in comparison to plant enzymes.
Based on Type, the market is segmented into Protease, Carbohydrase, Lipase, Polymerase and Nuclease and Other Types. Carbohydrase procured the maximum revenue share of the global market in 2020 and would display a similar trend during the forecast period. This is because that the carbohydrase is the major of enzyme utilized in the pharmaceutical and food industries. Thus, commercial uses of carbohydrase in food items and detergents would boost the segment growth during the forecast years.
Based on Reaction Type, the market is segmented into Transferase, Lyase, Hydrolase, Oxidoreductase and Other Reaction Types. Enzymes are segmented as per their functions on a molecular level. These kinds of enzymes are utilized to accelerate the transfer of functional groups, electrons, or atoms, and are given the names on the basis of the type of reaction they catalyze. Transferases have gained high traction in the last couple of years because of their attribute of transferring amino, phosphoryl, acetyl, and methyl groups from one substrate to another.
Based on Application, the market is segmented into Household Care, Bioenergy, Pharmaceutical and Biotechnology, Food & Beverages, Feed and Other Applications. The market is experiencing a significant hold of the household segment in 2020. The development of the household care segment is due to the aspects like increasing adoption of products containing enzymes instead of petrochemical-derived ingredients, as the latter is likely to pollute the environment to a large extent.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 7.7 Billion |
| Market size forecast in 2027 | USD 13.2 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 8% from 2021 to 2027 |
| Number of Pages | 297 |
| Number of Tables | 514 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Landscape |
| Segments covered | Source, Type, Reaction Type and Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is a major region owing to the existence of various end-use industries combined with high scope for R&D activities in the leading economies of the region. The U.S. government has implemented various initiatives to support the production of biofuels such as biodiesel, advanced biofuels, and cellulosic biofuels. The government had formulated the Renewable Fuel Standards (RFS1 and RFS 2) program in 2005, which aim to cut down the greenhouse emissions and supporting the usage of alternative fuel.
Free Valuable Insights: Global Enzymes Market size to reach USD 13.2 Billion by 2027
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Sanofi S.A. is the major forerunner in the Enzymes Market. Companies such as International Flavors & Fragrances, Inc., Novozymes A/S/, Associated British Foods PLC, Codexis, Inc., BASF SE are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, International Flavors & Fragrances, Inc. (DuPont Nutrition), Associated British Foods PLC (Wittington Investments Limited), Koninklijke DSM N.V., Novozymes A/S, Kerry Group PLC, Chr. Hansen Holding A/S, Merck Group, Sanofi S.A., and Codexis, Inc.
By Source
By Type
By Reaction Type
By Application
By Geography
The enzymes market size is projected to reach USD 13.2 billion by 2027.
Consumer preferences and growing popularity of the enzymes are driving the market in coming years, however, lack of appropriate regulatory norms have limited the growth of the market.
BASF SE, International Flavors & Fragrances, Inc. (DuPont Nutrition), Associated British Foods PLC (Wittington Investments Limited), Koninklijke DSM N.V., Novozymes A/S, Kerry Group PLC, Chr. Hansen Holding A/S, Merck Group, Sanofi S.A., and Codexis, Inc.
The expected CAGR of the enzymes market is 8% from 2021 to 2027.
The Asia Pacific market dominated the Global Enzymes Market by Region 2020, and would continue to be a dominant market till 2027; growing at a CAGR of 8.8 % during the forecast period.
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