Factors such as the multifunctional benefits of enzymes across industries and the reduced consumption of chemicals are contributing to the growth of the global enzyme market.
The enzymes market was valued at USD 10.0 billion in 2019 and is projected to reach USD 14.7 billion by 2025, recording a CAGR of 6.7% during the forecast period. The demand for enzymes is increasing significantly, as it is being used across various industries and as a substitute for chemicals. Key players in this market include BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies (India), Aumgene Biosciences (India), Chr Hansen (Denmark), Amano Enzymes (Japan), Roche Holding (Switzerland), Codexis (US), Sanofi (France), and Merck (Germany).
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By type, the carbohydrase segment is projected to account for the largest share in the market during the forecast period
The carbohydrase segment is projected to dominate the market during the forecast period. Carbohydrases are used in industrial applications, such as textiles & leather, food & beverages, pulp & paper, and biofuel. Carbohydrase is classified into amylase, cellulase, and other carbohydrases, which are used in various applications and microbes are a major source for them. The carbohydrase segment dominated the market, as enzymes named amylase catalyzes the hydrolysis of starch into sugar, which is used for various industrial applications.
By specialty enzymes, the pharmaceutical segment accounted for the largest market size in the market during the forecast period
The demand for specialty enzymes is increasing significantly due to the increasing application of enzymes in the pharmaceutical industry. Pharmaceutical manufacturers are increasingly becoming aware of the incorporation of biocatalysts into the manufacturing process. The increasing usage of enzymes in therapies for diseases, such as cancer, cardiovascular diseases, and lysosomal disorders, is projected to drive the demand for enzymes in the market.
The Asia Pacific region is projected to witness the fastest growth during the forecast period
The enzymes market in Asia Pacific is expected to witness the highest growth due to the increasing demand for enzymes in industrial and specialty applications. Technological innovations in machinery, synthetic fibers, logistics, and globalization of business have made the textile & leather industry one of the essential sectors in the Asia Pacific region. Furthermore, the shift of industrial operations from developed regions, such as North America and Europe to Asia Pacific, has further contributed to the growth of the enzymes market in this region. The use of enzymes in the biofuel industry will grow further due to the increase in bioethanol production and its usage in fueling automobiles and electricity. In addition, the majority of the population resides in the Asia Pacific region, which is contributing to the growth of the pharmaceutical industry. Enzyme usage in pharmaceutical products will further drive the enzymes market in the Asia Pacific region.
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Collagen Peptides Market worth $795 million by 2025
Food & beverage manufacturers have started using collagen peptides increasingly as an ingredient in a wide range of products. Also, with biotechnological advancement, collagen peptides have found its use in various biomedical applications. The versatile nature of collagen peptides makes it useful in the pharmaceutical industry for the production of orally administrative medicines.
Pea Starch Market is Expected to Reach $203 Million by 2026
Growth in the demand for pea starch in the end-user application industries is driving the market growth of pea starch. Further, increase in the demand for gluten-free products is also a major factor resulting to the rise in the demand for pea starch.
Shrink Plastic Film Market is Estimated to Grow $3.0 billion by 2025
Based on type, the shrink plastic film market for beverage multipacks is dominated by the unprinted shrink plastic film segment.
