Enzymes Market to Penetrate Untapped Regions During 2021 to 2028: Grand View Research Inc.

 Enzymes Market Growth & Trends

The global enzymes market size is expected to reach USD 17.88 billion by 2028, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. Rising consumer awareness regarding health has resulted in the growing consumption of functional food products, which is expected to trigger product demand in the coming years.

The demand for carbohydrase is increasing due to their extensive use as an ingredient in soft drinks. Carbohydrase is categorized into amylase, xylanase, cellulose, pectinase, and lactase. Increasing application of various types of carbohydrase in the pharmaceutical and animal feed sectors is anticipated to drive the market over the forecast period.

The U.S. is expected to continue dominating the North American market over the forecast period due to the high demand for the product from the food and beverage sector and increasing consumer awareness about health. The U.S. market is anticipated to witness notable growth on account of the extensive growth of the nutraceutical and pharmaceutical sectors in the country.

The market for enzymes is highly influenced by dominated supply from key players such as Novozymes AG, DuPont Danisco, and DSM, thus making it oligopolistic. The market has observed a rise in the demand for superior quality specialty enzymes. As a result, raw material distributors and manufacturers have significant opportunities to provide high-quality and uniform enzymes through a reviewed supply chain.

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 Enzymes Market Report Highlights

• By type, industrial enzymes captured the largest revenue share of over 55.0% in 2020. In the industrial enzymes segment, the food and beverages segment captured the largest share in 2020 due to the growing consumption of functional food products and surging utilization of enzymes in bakery applications
• In the specialty enzymes type segment, the pharmaceutical segment held the largest revenue share of over 40.0% in 2020 due to the growing inclusion of enzymes for key applications such as diagnosing diseases, promoting wound healing, and killing disease-causing microorganisms
• By source, the microorganisms segment held the largest revenue share of over 80.0% in 2020 owing to the increasing demand for fungi-based enzymes in numerous end-use industries
• North America held the largest revenue share in 2020 due to the strong presence of various end-use companies in the food and beverage, laundry detergent, pharmaceuticals, and personal care and cosmetics industries, along with high scope for research & development activities in developed countries

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Enzymes Market Segmentation

Grand View Research has segmented the global enzymes market on the basis of type, product, source, and region:

Enzymes Type Outlook (Revenue, USD Million, 2017 - 2028)

• Industrial Enzymes
  • Food & Beverages
  • Detergents
  • Animal Feed
  • Biofuels
  • Textiles
  • Pulp & Paper
  • Nutraceutical
  • Personal Care & Cosmetics
  • Wastewater
  • Others
• Specialty Enzymes
  • Pharmaceutical
  • Research & Biotechnology
  • Diagnostics
  • Biocatalyst

Enzymes Product Outlook (Revenue, USD Million, 2017 - 2028)

• Carbohydrase
• Proteases
• Lipases
• Polymerases &Nucleases
• Others

Enzymes Source Outlook (Revenue, USD Million, 2017 - 2028)

• Plants
• Animals
• Microorganisms

Enzymes Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • Turkey

List of Key Players of Enzymes Market

• BASF SE
• Novozymes
• DuPont Danisco
• DSM
• Novus International
• Adisseo
• Associated British Foods Plc
• Hansen Holding A/S
• Advanced Enzyme Technologies
• Lesaffre
• Enzyme Development Corporation

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.