Enzymes are biological molecules which function as catalyst and are responsible for accelerating the specificity and speed of metabolic reactions. Increasing global population and lifestyle trends have had a positive impact on global processed foods demand. With increasing pressure for feeding the population, the demand for enzymes in food industry is expected to be strong over the next six years. In addition, use of enzyme engineering in synthetic biology serves as a great opportunity for companies operating in the global enzymes market which in turn is expected to help penetration of enzymes in fuels and chemical application. Enzymes are extensively used in the food and beverage industry primarily due to high reaction specificity and need for improved food quality. These are primarily involved in conversion of carbohydrate to carbohydrase, protein to protease, and lipid to lipase. Food enzymes such as carbohydrase, protease, and lipase have anti-staling, digestive, and softening properties, which increase the shelf life of foods. However, the market faces considerable restraint in the form of inconsistent regulations in various developed countries. In addition, the restriction in temperature and pH of operation is expected to be a major challenge for the market over the forecast period.
Enzymes are used in detergents as one enzyme molecule can act on many substrate (i.e., soil) molecules, a small amount of enzyme added to a laundry detergent can provide a big cleaning benefit to the consumer. In addition, enzymes are proteins and are fully biodegradable making them environmentally friendly. The global market for enzymes was USD 4,411.6 million in 2013 and is expected to increase to USD 7,652.0 million by 2020, growing at a CAGR of 8.3% from 2014 to 2020.
Carbohydrase was the largest consumed enzyme accounting for over 45% of the global market in 2013. Carbohydrase is a selective enzyme which catalyzes the process of conversion of carbohydrate to starch. The segment is expected to be the fastest growing on account of growing demand in pharmaceuticals and food and beverage industry particularly in emerging markets of Asia. The market is estimated to grow at a CAGR of 8.6% from 2014 to 2020. In addition, the technological advancement in enzyme engineering is further expected to augment the demand over the next six years. Proteases followed carbohydrase in terms of market size and accounted for 27% of global market in 2013. These enzymes are essential in catabolism of protein and are expected to witness increased demand owing to the increased demand in protein coupled with reduction in phosphorous and nitrogen pollution. The other key enzymes covered in the report include lipases, polymerase and nucleases.
Food and beverages dominated application market for enzymes and accounted for 37.5% of total market revenue in 2013. Increasing enzyme innovation and application development is expected to spur the demand for enzymes in the food and beverages industry. However, animal feed is expected to be the fastest growing application market for enzymes at an estimated CAGR of 8.7% from 2014 to 2020. The growing demand for animals as source of protein is expected to spur the demand for enzymes such as proteases. Addition of these enzymes in animal feed is essential for the health and metabolism of the bred animals. The other key applications include detergents, biofuels and industrial among others.
North America dominated the global market for enzymes and accounted for 37.4% of total market revenue in 2013. The growing demand from application segments such as animal feed and biofuels is expected to boost the demand for enzymes in the region. Asia Pacific is expected to be the fastest growing regional market, at an estimated CAGR of 9.4% from 2014 to 2020. The growing market for food and beverage and availability of raw material for biofuels manufacturing is expected to have a positive impact on the demand for enzymes over the next six years.
The global enzymes market is consolidated with the top 3 manufacturers accounting for over 70% of the market in 2013. The key players in the market include Novozymes, Danisco and DSM among others.