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Enzyme Stabilizer Market Report 2024 - Enzyme Stabilizer Market Size And Growth
Enzyme Stabilizer Market
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According to The Business Research Company's, The enzyme stabilizer market size has grown strongly in recent years. It will grow from $3.20 billion in 2023 to $3.42 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to the growing demand for industrial enzymes, increasing use in pharmaceuticals, expanding food and beverage industry, detergent industry growth, and growth of biofuels.
The enzyme stabilizer market size is expected to see strong growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to the growth of biotechnology applications, expansion of personal care products, shift toward cold water detergent formulations, demand for enzyme-based animal feed, and growing pharmaceutical industry. Major trends in the forecast period include the adoption of natural stabilizers, integration in biotechnology, implementation in pharmaceuticals, development of tailored solutions, and adoption of encapsulation techniques.
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Market Drivers and Trends:
The growing demand for processed foods is expected to propel the growth of the enzyme stabilizer market going forward. Processed foods are food items that have transformed their natural state using techniques such as canning, freezing, and adding preservatives. The demand for processed foods is due to the desire for convenience, extended shelf life, and consumers' fast-paced lives. Enzyme stabilizers are used in processed foods to maintain enzyme activity during manufacturing and storage, ensuring product consistency and extended shelf life. For instance, in 2023, according to the United States Department of Agriculture, a US-based federal agency, the total value of US processed food products exported from the country increased to $36.59 billion in 2023, an increase of 1.7% compared to previous years. Therefore, the growing demand for processed foods is driving the growth of the enzyme stabilizer market.
Major companies operating in the enzyme stabilizer market are focusing on developing innovative solutions, such as oral enzyme stabilizers, to enhance efficacy and user convenience. Oral enzyme stabilizers are substances that protect and maintain the effectiveness of enzymes as they pass through the gastrointestinal tract, ensuring their activity for therapeutic and digestive purposes. For instance, in June 2023, Amicus Therapeutics, a US-based biotechnology company, received European Commission (EC) approval for opfolda (miglustat) 65 mg capsules, an enzyme stabilizer of cipaglucosidase alfa, a long-term enzyme replacement therapy for adults with late-onset Pompe disease. They are an essential component of the treatment regimen for adults with late-onset Pompe disease, specifically when used with cipaglucosidase alfa (Pombiliti).
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Major Key Players of the Market:
Cargill Incorporated, Archer-Daniels-Midland Company, BASF SE, DuPont de Nemours Inc., Kerry Group plc, DSM-Firmenich N.V., Sun Chemical Corporation, Toyobo Co. Ltd., Novozymes A/S, Chr. Hansen Holding A/S, Sekisui Diagnostics LLC, Amano Enzyme Inc., Codexis Inc., AB Enzymes GmbH, Specialty Enzymes and Probiotics LLC, Biocatalysts Ltd., Creative Biolabs Inc., Laffort SA, Aumgene Biosciences Inc., Megazyme Ltd., Sorachim SA, Enzyme Innovation Inc., Maps Enzymes Ltd., Dyadic International Inc.
Enzyme Stabilizer Market 2024 Key Insights:
• The enzyme stabilizer market size is expected to see strong growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Rising Demand For Processed Foods Drives Growth In Enzyme Stabilizer Market
• Innovative Oral Enzyme Stabilizers Enhance Efficacy And User Convenience
• North America was the largest region in the enzyme stabilizer market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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