The global specialty enzymes market is expected to grow from $3.79 billion in 2019 to $4.49 billion in 2020 at a growth rate of 18.46%. The growth is mainly due to the COVID-19 pandemic that has urged individuals to focus on health and strengthening the immune system, thus increasing the demand for foods, supplements and drinks containing probiotics. The market is then expected to reach $5.35 billion in 2023 at a rate of 6.05%.
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The specialty enzymes market consists of sales of specialty enzymes which are proteins acting as biocatalysts to accelerate the rate of reactions. The revenue generated by the market involves the sales of specialty enzymes that include carbohydrases, proteases, lipases, among others in liquid or dry form, which are produced either from microorganisms, plants or animals. Specialty enzymes are primarily used in pharmaceutical, diagnostics, animal nutrition, food & beverage, research, and biotechnology.
Global Specialty Enzymes Market Segmentation –
The Specialty Enzymes market covered in this report is segmented
1) By Type: Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, Oxidase & Hydratases, Others
2) By Source: Microorganisms, Animals, Plants
3) By Application: Pharmaceutical, Diagnostics, Research & Biotechnology, Food & Beverage, Animal Nutrition, Others
Global Specialty Enzymes Market Drivers –
Growing investment in biotechnology research & development is expected to boost market growth during the forecast period. Specialty enzymes are widely used in biotech research and development, particularly in molecular biology. The increasing investment and an increase in the number of companies conducting biotechnology research & development will in turn drive the specialty enzymes market.
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A Few Points From The Global Specialty Enzymes Market ToC
1. Executive Summary
2. Specialty Enzymes Market Characteristics
3. Specialty Enzymes Market Size And Growth
3.1. Global Specialty Enzymes Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Specialty Enzymes Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Specialty Enzymes Market Segmentation
5. Specialty Enzymes Market Regional And Country Analysis
5.1. Global Specialty Enzymes Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Specialty Enzymes Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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