Press release
Enzymes Market Expected to Reach $10.2 Billion by 2031
Enzymes Market
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The factors that drive the growth of the global enzymes market share include upsurge in demand for cellulosic- & amylase-based biofuels, rise in need for effective pharmaceuticals & cosmetics, upsurge in usage of functional food & beverages (that contain enzymes), and increase in usage of enzyme-based techniques for detection & treatment of various chronic diseases. However, restrictions related to chemical properties of enzymes and safety issues arising due to the contamination of enzymes impede the market growth.
On the contrary, surge in adoption of enzyme-based technology such as protein engineering and high untapped potential in the emerging economies are expected to provide lucrative growth opportunities for the global enzymes market trends expansion.
The global enzymes market growth is segmented on the basis of type into carbohydrase, protease, lipase, polymerase & nucleases, and others. The carbohydrase enzymes segment held approximately 40% of market share in 2021. This is attributes to the fact that carbohydrase is the most prominent type of enzyme used in pharmaceutical and food industries. Therefore, commercial applications of carbohydrase in food products and detergents are expected to fuel the growth of the segment throughout the forecast period. Protease enzyme segment is the second largest revenue generator, as it is widely used for processing the proteins. Moreover, protease enzymes are used in DNA replications & transcription, cell proliferation & differentiation, ovulation, fertilization, and others. Polymerase and nuclease enzymes possess highest growth potential in the global enzymes industry, and is expected to grow at a CAGR of 9.6% during analysis period.
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By application, the global enzyme market is segmented into food & beverages, household care, bioenergy, pharmaceutical & biotechnology, feed, and other such as agriculture, paper & pulp processing, and leather processing. Enzymes are most widely used in food processing as food additives for the purpose of modifying the properties of food such as shelf life, digestibility, texture, taste, and nutritional content. Hence, the food & beverage segment is anticipated to be one of the dominating segment over the analysis period. Likewise, the enzymes are used in laundry and dishwashing detergents (household care enzymes) to boost the performance of detergents by improving the stain removal properties, garment care, and wash efficiency.
Furthermore, enzymes are widely used in pharmaceutical industry for drug formulation and in cosmetic industry for the formulation of beauty products. Moreover, they play a major role in disease diagnostic such as pancreatic diseases. Increase in use of enzymes in advanced biotechnological processes such DNA diagnostics and protein engineering has fueled the growth of the global market. Likewise, increase in applications of enzymes in paper & pulp processing, leather processing, detergent production, and textile processing is anticipated to boost the demand for enzymes in near future, thereby supplementing the market growth.
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On the basis of type, the carbohydrase segment held 44.44% share in the global market in 2021.
On the basis of source, the microorganisms segment held the largest market share in 2021, and is expected to remain dominant throughout the forecast period.
On the basis of reaction type, the hydrolase segment held the largest market share in 2021, and is expected to remain dominant throughout the forecast period.
On the basis of application, the household care segment held the largest market share in 2021, and is expected to remain dominant throughout the forecast period.
Region-wise, North America dominated the enzymes market in 2021, and is expected to be dominant during the forecast period, owing to increase in use of enzymes in pharmaceuticals and diagnostic applications. Moreover, the manufacturers are investing in newer technologies to cater to the growing needs of the bioenergy industry.
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