Enzymes Market Analysis by Leading Players- BASF, Royal DSM, Chr. Hansen, Enmex, Advanced Enzymes, Danisco A/S, Specialty Enzymes and Probiotics, Aumgene Biosciences
Enhanced demand for food additives owing to its ability to improve the flavor, quality, shelf-life, and appearance is predicted to promote the enzymes market growth over the next few years. Enzymes are used to reduce the flour protein proportion in crackers & biscuits, improve bread quality, and ensure symmetrical bread browning.
As per the Global Market Insights Inc. report, the global Enzymes Market size worth USD 5 billion, is predicted to reach USD 10.7 billion by 2024, growing at a CAGR of 8% over the period of 2016-2024. Healthy diet requirement, lifestyle changes, and demographic influences are few of the factors predicted to promote the growth of the global enzymes industry. Rising demand for high-quality meat coupled with decreasing operational expenses is predicted to boost the demand for animal feed enzymes. Furthermore, new technological breakthroughs along with market consolidation are some of the aspects influencing the enzymes market growth.
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The proteases enzymes market is predicted to grow at a CAGR of 7% over the forecast timeframe due to its applications in animal feed, food, detergent, chemical, and pharmaceutical industries. Carbohydrases enzymes market size worth USD 2 billion in 2015, is predicted to witness a significant growth over the next eight years as a result of its use to catalyze carbohydrates into glucose and fructose for food & beverages and pharmaceutical applications.
The animal feed applications segment is predicted to record a CAGR of 7% owing to growing awareness among farmers about the utility of high-quality animal feed. The detergent applications segment is predicted to cross USD 2 billion mark by 2024 due to rise in disposable income of consumers leading to an increase in their purchasing capacity. The food & beverages applications segment is predicted to witness a significant growth over the forecast timeframe due to heavy demand for high nutrient diet coupled with government policies favoring beef production in countries like Kazakhstan, Canada, China, and Australia.
The Asia Pacific enzymes market is predicted to record a CAGR of 9% over the forecast timeline owing to rise in population and growing beef import from countries like South Korea and China. Furthermore, expansion of pharmaceutical and detergents sectors in Indonesia, China, and Malaysia are predicted to contribute significantly towards the regional growth.
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The Europe enzymes market worth USD 1 billion in 2015, is predicted to witness a substantial growth over the forecast period due to rise in demand for cattle feed and its hybrid variants.
The North American market is anticipated to grow at a rate of 8% over the period of 2016-2024 Rising need for processed foods coupled with the growth of food & beverages sector in the U.S. is projected to boost the regional growth.
Key market players include Roche Holding AG, Adisseo, DSM, Lonza Group, Danisco, Novozymes, BASF, and Chr. Hansen. Industry players will try to increase their market share through constant innovation and investments in R&D activities.
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TABLE 1 Enzymes industry 3600 synopsis, 2013 – 2024
TABLE 2 Global enzymes market estimates and forecast, 2013 - 2016, (Kilotons) (USD Million)
TABLE 3 Global enzymes market estimates and forecast, 2017 - 2024, (Kilotons) (USD Million)
TABLE 4 Global enzymes market volume estimates and forecast, by product, 2013 - 2016, (Kilotons)
TABLE 5 Global enzymes market volume estimates and forecast, by product, 2017 - 2024, (Kilotons)
TABLE 6 Global enzymes market revenue estimates and forecast, by product, 2013 - 2016, (USD Million)
TABLE 7 Global enzymes market revenue estimates and forecast, by product, 2017 - 2024, (USD Million)
TABLE 8 Global enzymes market volume estimates and forecast, by application, 2013 - 2016, (Kilotons)
TABLE 9 Global enzymes market volume estimates and forecast, by application, 2017 - 2024, (Kilotons)
TABLE 10 Global enzymes market revenue estimates and forecast, by application, 2013 - 2016, (USD Million)
TABLE 11 Global enzymes market revenue estimates and forecast, by application, 2017 - 2024, (USD Million)
TABLE 12 Global enzymes market volume estimates and forecast, by region, 2013 - 2016, (Kilotons)
TABLE 13 Global enzymes market volume estimates and forecast, by region, 2017 - 2024, (Kilotons)
TABLE 14 Global enzymes market revenue estimates and forecast, by region, 2013 - 2016, (USD Million)
TABLE 15 Global enzymes market revenue estimates and forecast, by region, 2017 - 2024, (USD Million)
TABLE 16 Distribution costs of the key industry players
TABLE 17 Vendor matrix
TABLE 18 Industry impact forces
TABLE 19 Enzymes technical benefits in animal feed industry
TABLE 20 Effect of population and GDP on total global meat production, 2005-2050
TABLE 21 Meat Consumption (Beef & veal/ Pork meat/ Poultry meat/ Sheep meat) Kilograms/capita, 2015
TABLE 22 Global milk consumption (liters per capita)
TABLE 23 Enzymes technical benefits in biofuels and pulp & paper industry
TABLE 24 Enzymes that work on specific industry
TABLE 25 Objectives and strategy of enzyme production
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