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Enzymes Market Forecast 2018-2024 | Prominent Players - AB Enzymes, Danisco Animal Nutrition, Specialty Enzymes & Probiotics, BASF, DSM

Enzymes Market

Enzymes Market

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. 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.

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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.

Company Profiles
1. BASF
2. DSM
3. CHR HANSEN GIDA A.Ş.
4. Enmex SA de CV
5. Advanced Enzymes
6. Danisco Animal Nutrition
7. Specialty Enzymes & Probiotics
8. Aumgene Biosciences Pvt Ltd
9. Lumis Biotech
10. CODEXIS
11. Hayashibara
12. AB Enzymes
13. Novozymes
14. Amano Enzyme Inc.
15. Aum Enzymes
16. National Enzyme Company
17. Novus International
18. Roche
19. Caprienzymes
20. Asahi Kasei Pharma America
21. EDT-Enzymatic Deinking Technologies, LLC
22. PAC Bio Fungbact
23. BioResource International, Inc.
24. DIREVO Biotech AG

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 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.
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.
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.
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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