Enzymes Industry Is Anticipated To Boost The Growth Due To Rising Demand For Poultry And Swine Feed Worldwide

  

 

 

Enzymes industry data book covers industrial enzymes and specialty enzymes market. The global enzymes market size was valued at USD 12.28 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2023 to 2030.

Global enzymes industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Industrial Enzymes Market Analysis & Forecast

The global industrial enzymes market size was valued at USD 6.96 billion in 2022and is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030. Increasing global consumption of bakery products and fruit juices is expected to fuel the demand for industrial enzymes. This factor is anticipated to contribute to the growth of the industry in the forthcoming years. Industrial enzymes are frequently used in the food and beverage sector to increase product quality and shelf life. They are utilized in the food and beverage business in the brewing and baking processes, as well as in the dairy, starch, and sugar products that people regularly consume in large quantities. They are employed in baking applications to provide flour or dough particular qualities. They help in reducing the protein content of flour in biscuits and crackers, while their usage in bread enhances or standardizes its quality and guarantees uniform browning.

The North America region dominated the market with the highest revenue share of 37.6% in 2022. This is attributable to a prominent market for industrial enzymes due to the strong presence of various end-use companies in the food & beverage, laundry detergent, pharmaceuticals, and personal care & cosmetics industries along with high scope for R&D activities in major countries of the region. For instance, genetically modified organism strains remanufactured by food enzymes are sourced from microorganisms with the help of technological advancements. These strains improve the efficiency of the product in food items.

European Commission’s inclination toward reducing greenhouse emissions and promoting the production of biofuels is expected to have a positive impact on the growth of the market over the forecast period. Russia is expected to witness a significant increase in meat production due to improving economic conditions. Asia Pacific, the demand for industrial enzymes is anticipated to rise at a significant rate on account of the growing meat production across the region, especially in China. The United Nations Food and Agriculture Organization estimates that China produced 77.92 million tons of beef in 2020.

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Specialty Enzymes Market Analysis & Forecast

The global specialty enzymes market size was valued at USD 5.32 billion in 2022 and is expected to grow at a compound 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. The enzymes such as lipases, amylases, proteases, rennet, pectinases, invertases, cellulases, and glucose oxidase play a vital role in the food processing industry. However, the complexities in biosimilar development may hinder the market's growth.

Utilizing specialty enzymes offers swift and practical solutions to these issues, contributing to market expansion. Specialty enzymes are widely employed in various diagnostic methods, including DNA modification and sequencing. The projected decline in DNA modification and sequencing costs is expected to drive the demand for enzymes in research, biotechnology, and medicinal applications. Moreover, the aging population in affluent countries is anticipated to increase the requirement for specialized enzymes in the healthcare sector.

North America dominated the market with a revenue share of 41.7% in 2022. This is attributed to the growing number of specialty enzyme product approvals and product launches for treating diseases. Technological advancements in the region have made enzymes available for various applications, leading to positive market growth in the coming years. Europe is one of the major producers of medicinal, pharmaceutical, and cosmetic products. Asia Pacific is estimated to grow fastest during the forecast period owing to increased incidence of cardiovascular diseases, high prevalence of various cancers, and a rise in product launches in the region. The increase in foreign investments in the country's pharmaceutical sector is estimated to provide further scope for the consumption of specialty enzymes over the forecast period.

Go through the table of content of Enzymes Industry Data Book to get a better understanding of the Coverage & Scope of the study.

Enzymes Industry Data Book Competitive Landscape

In recent years, the market for enzymes has grown significantly due to their increasing consumption in numerous end-use applications such as food & beverages, diagnostics, paper & pulp, nutraceuticals, detergents, animal feed, pharmaceutical, research, and biotechnology. The majority of market participants have focused their research & development efforts on the development of innovative enzyme products in bulk for their use in multiple applications.

Key players operating in the enzymes industry are –

• BASF SE
• Associated British Foods Plc
• Advanced Enzyme Technologies
• DSM
• Novus International
• ABF Ingredients,
• Chr. Hansen Holding A/S,
• DuPont Danisco
• Lesaffre,
• Adisseo
• Novozymes AG