The global enzymes market size is expected to reach USD 14.9 billion by 2025, expanding at a CAGR of 7.1%, according to a new report by Grand View Research, Inc. Increasing consumer awareness concerning health has resulted in the growing consumption of functional food products, which is further expected to trigger market demand in the near future.
The microorganisms source segment accounted for the largest share in the market in 2018. The growth of this segment can be attributed to low production cost and easy availability of raw materials for enzyme manufacturers. Moreover, end-use industries are extensively using enzymes sourced from microorganisms as they can be used in the generation of several products and their scope is not restricted. This type of production is beneficial/suitable for the product portfolio of the manufacturers.
The carbohydrase product segment is projected to dominate the market due to its extensive usage as an ingredient in soft drinks. Growing demand for sports drinks is observed to have a positive impact on product demand, which is further anticipated to drive the market growth. Carbohydrase is further categorized into amylase, cellulose, lactases, pectinase, and xylanases. Increasing application of these carbohydrases in the pharmaceutical and animal feed sectors is anticipated to boost product demand.
The food and beverages industrial application segment dominated the market in 2018. Food enzymes observed substantial growth as they are important for breaking down various complex molecules present in food to simpler molecules that are easy to digest. The animal feed industrial enzymes application segment is anticipated to grow at a faster pace due to its increasing inclusion in animal feed conversion. Key players are, thus, focusing on research and development activities to improve these methods in an attempt to enhance the feed production process and meet the growing protein requirements.
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Further key findings from the report suggest:
In terms of revenue, the carbohydrase product segment is projected to ascend at a CAGR of 7.3% over the forecast period
Asia Pacific is projected to witness a remarkable CAGR of 8.1% in the near future, owing to increasing consumption of food and beverage products, detergents, and animal feed in the region
In June 2019, Novozymes announced its new liquefaction technology called Fortiva and a yeast technology called Innova Force. These technologies are anticipated to maximize operational efficiency and enzyme performance and prove beneficial for ethanol producers
Some of the key companies present in the industry are BASF SE, Novozymes, DuPont Danisco, DSM, Associated British Foods plc, Chr. Hansen Holding A/S, and Advanced Enzyme Technologies.
Grand View Research has segmented the global enzymes market on the basis of application, product, source, and region:
Enzymes Application Outlook (Revenue, USD Million, 2014 - 2025)
Food & Beverages
Pulp & Paper
Personal Care & Cosmetics
Research & Biotechnology
Enzymes Product Outlook (Revenue, USD Million, 2014 - 2025)
Polymerases & nucleases
Enzymes Source Outlook (Revenue, USD Million, 2014 - 2025)
Enzymes Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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