The size of the enzymes market will be worth approximately US$20.5 billion per
Tokyo, June 23, 2022 (GLOBE NEWSWIRE) — The enzymes market will reach a valuation of US$12.46 billion in 2022. The enzymes market is witnessing growth mainly due to the increase in demand for drugs and biotechnology products. The food and beverage industry is also helping the market propel itself through the primary action of enzymes to break down complex nutrients. The process of digestion is mainly done by the enzyme in the body. Various pharmaceutical companies do research and development on the action and use of enzymes to develop new drugs to maintain health.
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Due to rapid urbanization, the food and beverage industry is showing significant growth which in turn is benefiting the enzymes market. North America is one of the main markets for enzymes. Developing countries like India and China are turning to fast food due to the urban lifestyles followed by people. Europe is proving to be another potential market for this industry. The Asia-Pacific region has also witnessed significant growth in market size over the forecast period.
- Based on type market is divided into industrial enzymes and specialty enzymes. They are biological catalysts that help reduce production time by speeding up the chemical reactions that take place. With the increase in organization and industrialization, the enzymes market has propelled to new heights.
- Based on the product the carbohydrase segment is expected to dominate the market. The rapid use of enzymes in the food and beverage industry has helped increase demand. The proteases segment is another sector that should perform well.
- Based on source in the market is led by the microorganism sector. This sector is expected to grow with growing demand from the industrial sector and end users. This sector will also show tremendous growth with the development of the food and beverage industry. These multiple segments are all the factors that will drive the market during the forecast period.
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|Market size in 2021||$11.71 billion|
|Revenue forecasts by 2030||$20.5 billion|
|CAGR||6.42% from 2022 to 2030|
|Year of reference||2021|
|forecast year||2022 to 2030|
|Key players||BASF (Germany), DuPont (USA), Associated British Foods (UK), Advanced Enzymes Technologies (India), Aumgene Biosciences (India), Chr Hansen (Denmark), Creative Enzymes (USA), Enzyme Solutions (United States), Amano Enzymes (Japan), Roche Holding (Switzerland), Codexis (United States)|
Enzymes play a major role in breaking down complex food molecules into simpler molecules, which aids in digestion. The food and beverage industry provides a potential driving force for market development. The pharmaceutical sector is also pushing the market to full capacity. Due to the changing lifestyle and habits in urban countries, the use of drugs containing enzymes has increased significantly. The pharmaceutical industry carries out research on the action of enzymes on the human body and thus produces drugs that can fulfill the action in the body. It is also an important factor in the laundry and textile industry which has the difficult task of dealing with oil stains. Oil stains are treated using enzymes in the form of chlorine to break down the oil particles and convert them into simpler molecules, thus easily removing the stain. The increase in the number of chronic diseases related to the digestive system has supported the growth of the market over the forecast period.
Handling and packaging factors have proven to be among the market restraining factors. Improper handling of enzymes leads to waste of raw materials. Improper storage also impairs the pH balance of enzymes. There is no fixed standardization of the process and the quality of the product that must be maintained, which makes it very risky for consumers as end users. Fluctuating standards remain a restraining factor for the company, which will hamper the market growth over the forecast period. European rules and regulations have allowed additives in raw materials, which hinders the quality of the process and thus creates confusion among manufacturers around the world. The lack of harmonization of the product thus produced leads to a variation in the quality of the product. These multiple factors act as restraining factors for the market.
Due to the huge geriatric population existing in the world, the number of chronic diseases requiring palliative treatment is increasing. Therefore, the use of enzymes for the treatment of these chronic conditions proves to be very beneficial. The prevalence of cardiac disorders and lysosomal storage diseases has propelled the demand for therapeutic drugs prepared from enzymes that prove useful in the treatment of these diseases. The increase in the number of cancer patients worldwide has also increased the demand for enzyme-based drugs. Other chronic conditions related to digestive disorders are also helping to boost the market over the forecast period. The rapid change in the lifestyle and habits of people residing in urban areas has increased the risk of cancer, which in turn will propel the enzyme industry market. These multiple factors will help to increase the revenue of the Enzymes Market in the near future.
The lack of standardization of the process and the finished products manufactured has proven to be a challenge for the growth of the market. This condition leads to loss of consumer confidence in the growth of the market. The need for harmony is another factor that reduces the future prospects of the market. Product quality is too variable depending on raw material handling procedures. This changes the pH values and the consistency of the final product. Approval regarding contamination of raw materials has created discrepancies among major producers in the Europe region.
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- IFF and DuPont entered into a collaboration with their bioscience company in February 2021, which was also previously disclosed. The entire business will be run under the IFF brand. The main objective of this collaboration is the expansion of the IFF business worldwide.
- BASF SE and Sandoz GmbH joined forces in April 2021. The main objective of this subsidiary of Novartis was to invest in Schaftenau Campur which is located in Austria. BASF SE aims to expand its universal reach through this collaboration.
- Industrial enzymes
- Food and drinks
- animal feed
- Pulp and paper
- Personal care and cosmetics
- Specialized enzymes
- Research & Biotechnology
- By origin
- Polymerases and nucleases
- Food and drinks
- Meat processing products
- Dairy products
- Bakery & confectionery
- Other food and beverages
- laundry detergents
- Detergents for automatic dishwashers
- Other types of detergent
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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