Enzymes Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product Type (Industrial Enzymes, Specialty Enzymes); Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, Others); Source (Plants, Animals, Microorganisms); and Region/Country
The Enzymes Market was valued at USD 12 billion in 2021 & is expected to grow at a CAGR of 6% from 2022-2030. Enzymes are highly specialised proteins that catalyse (speed up) chemical reactions in living organisms. They work by attaching molecules known as substrates and turning them into products. Because enzymes are very specialised, each enzyme can only catalyse a single type of reaction or substrate molecule. They are essential in biological processes such as digestion, metabolism, and cellular signalling because they allow chemical reactions to proceed more quickly and efficiently. The growing demand for enzymes can be attributed to the rising demand for food & beverage products and The use of enzymes in animal feed are the key factors which boost the adoption of inorganic growth strategies among key industry players around the globe. For instance, in December 2020, DuPont Nutrition & Biosciences launched Versilk in North America, which is a clean-label native enzyme designed to optimize texture and taste in yogurts, drinkable dairy products, and other drinkable fermented products. Owing to the glaring statistics enzymes are being used for a variety of applications, including food processing, brewing, baking, and dairy production across the globe and would contribute to the growth of the market in the forthcoming period as well. The capacity of enzymes to break down chemicals in cosmetics facilitates skin absorption and increases product efficacy. This is because enzymes catalyse chemical reactions that break down larger molecules into smaller ones, allowing them to pass through the skin more easily. Furthermore, enzymes can act as natural exfoliants, eliminating dead skin cells and improving skin texture. Enzymes are hence perfect for use in exfoliating masks, scrubs, and peels. Enzymes have a gentler action than other exfoliating chemicals and are less prone to cause irritation or injury to the skin. However, some of the restraints in the market including the high production costs and stringent regulations are impeding the growth of this market all over the world.
Some of the major players operating in the market include BASF SE, Novozymes, DuPont Danisco, DSM, Merck & Co., Inc., F. Hoffmann-La Roche Ltd, Sanofi, Codexis, Inc., Chr. Hansen Holding A/S, AB Enzymes. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, the industrial enzymes segment held a significant share of the market in 2021.”
Based on product type, the market is segmented into industrial enzymes and specialty enzymes. Among them, the industrial enzymes segment captured a significant share of the market in 2021. This is due to increased product demand in a variety of end-use sectors, including food and beverage, detergent, animal feed, textile, paper and pulp, and wastewater. Product inclusion in detergents is likely to be driven by the expanding usage of detergents in industrial and residential applications in the emerging economies of Brazil, China, and India.
“Amongst type, the carbohydrases segment held the higher CAGR in the market in 2021.”
Based on the type, the market is bifurcated into carbohydrases, proteases, lipases, polymerases & nucleases, and others. Among them, the carbohydrases segment is expected to grow at a higher CAGR in the market. This is due to rising demand from a variety of end-use industries such as food and drinks, animal feed, and pharmaceuticals, among others. Increasing need for pectinases and amylases in fruit juice processing for liquefaction, clarifying, and maceration to improve product quantity and quality is likely to fuel demand throughout the projection period.
“North America dominated the Enzymes market in 2021.”
Enzymes have gained increasing popularity in North America due to various factors. The growing need for eco-friendly and sustainable production practices in numerous industries, such as food & drinks, pharmaceuticals, and textiles. Enzymes can be used in various industries to lessen the need for harsh chemicals and energy-consuming processes, improving productivity, cutting down on waste, and having a less negative impact on the environment. The rising demand for food & beverage products are also attributing in the growth of the enzymes market. For instance, in March 2021, Amano launched a flavor enzyme for items containing plant proteins. Umamizyme Pulse, a non-GMO enzyme introduced by Amano Enzyme, is intended to be used in a variety of plant protein products to provide a flavor that is pleasant and tasty. The expansion of the biotechnology industry in North America has also played a vital part in driving the growth of the enzyme market, as new technologies and procedures for enzyme manufacturing and formulation have been created, resulting in enhanced efficiency and cost-effectiveness. The growing understanding of enzyme benefits, such as their capacity to improve the quality and nutritional content of animal feed, has also contributed to the expansion of the North American enzyme market. Additionally, as the desire for alternative fuel sources keeps rising, the use of enzymes in the manufacturing of biofuels has grown to be a significant market driver in the region.
Enzymes Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Enzymes market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Enzymes Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Enzymes market were the three major steps undertaken to create and analyze the adoption of Enzymes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Enzymes market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Enzymes market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Enzymes market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, type, and source. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Enzymes market. Further, we conducted factor analysis using dependent and independent variables such as product type, type, and source of the enzymes market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Enzymes market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrive at the current market size, key players in the global Enzymes market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Enzymes market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Enzymes market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global enzymes market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, type, and source in the global Enzymes market.
The main objective of the Global Enzymes Market Study
The current & future market trends of the global Enzymes market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Enzymes market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the product type, type, and source
- Define and analysis of the regulatory framework for the Enzymes industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Enzymes market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Enzymes market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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