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Serine Proteases Market SWOT Analysis, Growth Overview, Industry Share And Forecast To 2033
Serine Proteases Market Analysis
As per the report, the serine proteases market size has grown rapidly in recent years. It will grow from $2.04 billion in 2023 to $2.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The serine proteases market size is expected to see rapid growth in the next few years. It will grow to $3.45 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
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Rising Food And Beverage Industry Fuels Serine Proteases Market
The expansion of the food and beverage industry is expected to propel the growth of the serine proteases market going forward. The food and beverage industry encompasses all businesses involved in producing, processing, packaging, distributing, and selling food and drink products. The expansion of the food and beverage industry is due to the increasing global population, migration of people to urban areas, and innovations in production, processing, and distribution to improve efficiency. The application of serine proteases enhances the quality, flavor, and functionality of food and beverage products, contributing to innovation and efficiency in the industry. For instance, in April 2024, according to the Australian Bureau of Statistics, an Australian government statistical agency, sales of food and non-alcoholic beverages in Australia's supermarkets, grocery stores, convenience, and specialty food stores amounted to 15.1 million tonnes in the fiscal year 2021-22, compared to the 14.8 million tonnes sold in the fiscal year of 2020-21. Therefore, the expansion of the food and beverage industry is driving the growth of the serine proteases market.
Innovative High-Performance Protease Enzymes Drive Advancements In Serine Protease Market
Major companies operating in the serine protease market focus on developing innovative solutions, such as high-performance protease enzymes, to address the growing demand in various applications, including pharmaceuticals, biotechnology, and industrial processes. High-performance protease enzymes are advanced proteolytic enzymes engineered for superior catalytic efficiency, stability, and selectivity, exhibiting increased turnover rates and greater resistance to extreme conditions. For instance, in November 2021, Biocatalysts Ltd, a UK-based biotechnology company, launched Promod 324L, a novel protease enzyme tailored for the pet food sector. It brings forth numerous advantages, such as enhancing the processability of animal protein by elevating solubility and decreasing viscosity, efficiently breaking down tough animal tissue to yield a protein hydrolysate with augmented accessible protein content, and improving the digestibility of animal protein, enhancing nutritional absorption and maximizing the value of formerly discarded by-products.
The serine proteases market covered in this report is segmented -
1) By Type: C1R, C1S, C3A, C3B
2) By Application: Digestive System, Blood Coagulation System, Complement System, Other Applications
3) By End-Use: Dietary Supplements, Nutraceuticals, Pharmaceutical, Industrial, Other End-Uses
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Major companies operating in the serine proteases market are BASF SE, Thermo Fisher Scientific Inc., Roche Holdings Inc., Merck KGaA, Lonza Group, Novozymes A/S, QIAGEN N.V., GenScript Biotech Corporation, Promega Corporation, BioLegend Inc., R&D Systems Inc., Sino Biological Inc., Codexis Inc., New England Biolabs Inc., BBI Solutions Ltd., BRAIN Biotech AG, Cayman Chemical Company, RayBiotech Inc., BioCat GmbH, Enzo Life Sciences Inc., ProSpec-Tany TechnoGene Ltd.
Contents of the report:
1. Executive Summary
2. Serine Proteases Market Report Structure
3. Serine Proteases Market Trends And Strategies
4. Serine Proteases Market - Macro Economic Scenario
5. Serine Proteases Market Size And Growth
…..
27. Serine Proteases Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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