Enzymes Market is Projected to Gain $10.2 Billion by 2031, Growing at a 6.0% CAGR: Says AMR
The global enzymes market growth is attributed to various factors, including the increasing demand for enzymes in various industries, including pharmaceuticals, food and beverage, detergents, biotechnology, paper and pulp, and biofuels, and the rise in the number of chronic diseases, including digestive diseases and inflammation, cancer, and AIDS. Based on region, Asia-Pacific would cite the fastest CAGR during the forecast timeframe.
Wilmington, Delaware, Nov. 08, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global enzymes market size is estimated to reach $10.2 billion by 2031, having endorsed a value of $5.8 billion in 2021, and exhibiting a CAGR of 6.0% from 2022 to 2031. This market report provides an in-depth examination of top market segments, leading investment pockets, market dynamics, market capacity and forecasts, competitive analysis, and regional analysis. It is an essential resource for the stakeholders, and leading market players to strategic plan and enhance their competitive advantage.
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Report Coverage and Details:
|Market Size in 2021||$5.8 Billion|
|Market Size in 2031||$10.2 Billion|
|No. of Pages in Report||350|
|Segments Covered||Type, Source, Reaction Type, Application and Region|
|Drivers||The usage of enzymes in food and beverage companies to transform complex molecules into simpler molecules|
|The rise in the prevalence of chronic diseases, including digestive disorders and inflammations, as well as cancer and AIDS|
|Surge in demand for enzymes in the pharmaceutical industry to facilitate the synthesis of intermediates in the production of active pharmaceutical ingredients (APIs) to produce effective medicinal drugs|
|The increase in the demand for renewable sources of energy, including biofuels|
|Opportunities||An increase in awareness about the usage of enzymes in the field of protein engineering technology|
|Higher market potential in the untapped emerging economies|
|Restraints||The handling and safety of enzymes, and their increased sensitivity to temperature and pH|
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Recent strategies in Enzymes Market
- In April 2022, seqWell Inc. and Codexis, Inc. had announced the initiation of a strategic partnership and investment to accelerate the commercialization of seqWell’s genomics workflow solutions. This collaboration and investment has enabled seqWell to continue rapidly advancing its commercialization of new and existing products in the fast-growing genomics and next generation sequencing (NGS) library prep market.
- In June 2020, Novozymes launched eco-friendly “umami flavoring” made with enzymes for enhancing the taste associated with cooked meat.
- In June 2020, DSM launched “DelvoPlant” range of enzymes for improvising taste, sweetness and texture of plant-based drinks. This new product will aid in increased capacity or reduced costs which is particularly important given the current volatility in the energy industry.
- In July 2019, Genedata announced that it has expanded its partnership with AB Enzymes which will help AB enzymes increase the efficiency of the discovery process for innovative enzymes.
The report offers a detailed segmentation of the global enzymes market based on source, reaction type, application, type, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This research provides an opportunity for market participants, investors, and new market entrants to identify the potential sub-segments for growth in the upcoming years.
By source, the microorganisms segment accounted for the largest market share in 2021, holding to more than half of the global enzymes market revenue, and is projected to lead the trail during the forecast timeframe. On the other hand, the plants segment would display the fastest CAGR of 7.0% from 2022 to 2031. The animals segment is also studied in the report.
By application, the household care segment accounted for the major market share in 2021, acquiring nearly one-third of the global enzymes market revenue. Furthermore, the pharmaceutical and biotechnology segment would showcase the fastest CAGR of 7.3% from 2022 to 2031. The report also examined the food and beverages, feed and others, and bioenergy segment in the report.
By type, the carbohydrase segment held the major market share in 2021, contributing to more than two-fifths of the global enzymes market revenue, and is expected to rule the roost by 2031. However, the polymerase and nuclease segment would portray the fastest CAGR of 9.6% from 2022 to 2031. The report also discusses the protease, lipase, and other segments in this report.
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By region, North America garnered the largest market share in 2021 and accounted for more than one-third of the global enzymes market revenue. Simultaneously, the Asia-Pacific region would cite the fastest CAGR of 7.9% from 2022 to 2031. The other provinces discussed in the report include Europe and LAMEA.
The prominent players that have been analyzed and identified in the global enzymes market include, THERMO FISHER SCIENTIFIC INC. (AFFYMETRIX, INC.), AB ENZYMES GmbH, Koninklijke DSM N.V., Advanced Enzyme Technologies Ltd., Codexis, Inc., DUPONT DE NEMOURS, INC., HOFFMANN-LA ROCHE LTD., BASF SE, NOVOZYMES A/S, and F. AMANO ENZYME INC. These leading players have adopted a variety of strategies such as partnership, geographic expansion, joint ventures, new product launches, and others to demonstrate their presence in the market.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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