According to report published by Grand View Research,“Enzymes Market Size, Share & Trends Analysis Report By Product (Carboydrases, Proteases, Lipases), By Application (Industrial, Specialty), By End Use, By Region, And Segment Forecasts, 2019 – 2025”, Rising demand for industrial enzymes in detergent, animal feed, food and beverage, and wastewater treatment industries is expected to drive the growth.
Enzymes are used as additives in the food and beverage industry to enhance the product quality and eradicate deficiencies in food items. The rapid growth of food processing industry on account of rising population coupled with increasing consumer spending on processed food products is expected to drive product demand over the projected period.
Enzymes are expected to witness high demand from detergent manufacturing on account of their ability to remove protein-based stains and dirt. In the pulp and paper industry, the product is used for deinking and fiber modification applications.
High cost associated with enzyme manufacturing equipment and machinery makes it a capital intensive industry, which is expected to be a barrier for the new entrants. A strong foothold of the major players on account of their established buyer base and wide distribution network is expected to offer them a competitive edge over the projected period.
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Further key findings from the report suggest:
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In 2018, demand for specialty enzymes in U.S. was valued at USD 1.88 billion and is expected to witness significant growth in near future on account of the strong presence of pharmaceutical manufacturing in the region
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Carbohydrase led the product segment with a market share of 48.2%, as the product has a high demand for producing sugar syrups in the food processing industry
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Pharmaceutical was the largest application segment for specialty enzymes in China, accounting for 48.49% of the overall market share owing to the high volume production of generic drugs in the country
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Demand for industrial enzymes in Brazil is expected to expand at a CAGR of 8.4% over the projected period on account of expansion of FMCG and nutraceutical companies in the country
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Rising focus of animal feed manufacturers on improving nutritional values of the end-products is expected to propel the industrial enzymes segment with a CAGR of 9.0% over the projected period
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The optimum business growth for the manufacturers in the enzymes market is likely to depend on the strategies including backward integration, capacity expansion, new product development, and significant investments in R&D
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Grand View Research has segmented the global enzymes market on the basis of product, application, end use, and region:
Enzymes Product Outlook (Revenue, USD Million, 2014 – 2025)
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Carbohydrases
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Proteases
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Lipases
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Polymerases & Nucleases
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Others
Enzymes Application Outlook (Revenue, USD Million, 2014 – 2025)
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Industrial Enzymes
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Specialty Enzymes
Specialty Enzymes End Use Outlook (Revenue, USD Million, 2014 – 2025)
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Pharmaceutical
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Research & Biotechnology
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Diagnostics
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Biocatalysts
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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