According to MarketsandMarkets, the enzymes market is estimated to be valued at USD 10.0 billion in 2019 and is projected to reach USD 14.7 billion by 2025, recording a CAGR of 6.7%, in terms of value. The advancements in enzyme engineering and other technologies have led to the growth of the market. In addition, the depletion of non-renewable resources has led to an increase in environmental concerns among people and the increasing importance of manufacturing biofuels. Factors such as the multifunctional benefits of enzymes across industries and the reduced consumption of chemicals are contributing to the growth of the global enzyme market.
The microorganism segment is projected to witness significant growth during the forecast period.
Based on source, the enzymes market is segmented into microorganisms, plants, and animals. The microorganism segment is projected to witness the highest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs. Furthermore, they contain more predictable and controllable enzyme content. In addition, as enzymes obtained from microbial sources can be cultured in large quantities in a short period, microorganisms are the primary source of industrial enzymes.
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The carbohydrases segment is projected to account for a major share in the enzymes market during the forecast period
By type, the enzymes market is segmented into carbohydrase, proteases, lipases, polymerases & nucleases, and other enzymes. The carbohydrases segment is further segmented into amylases, cellulases, and other carbohydrates. This segment is estimated to account for a significant share in the enzymes market, as carbohydrase, such as amylase and cellulase, has been used in industrial applications, including food & beverage, textiles, and pulp & paper. In addition, the enzymes market is dominated by the carbohydrase segment, as the majority of biofuels are manufactured by sugars and amylases and are used as an economical alternative for the modification of starch into sugars.
North America is projected to account for the largest market share during the forecast period
In 2018, North America accounted for the largest market share in the market. Technological advancements in this region have made enzymes available for a wide range of applications, and this segment is estimated to drive the growth of the market in the region. This region is projected to be the largest market due to the development of novel and superior performing products and global industrialization. The pharmaceutical industry in this region is also witnessing a rise in the usage of enzymes. The North American region witnessed an increase in feed production, which leads to the rise in demand for enzymes in this region. The US is a dominating country and the market in this region has reached its maturity. These factors are projected to contribute to the growth of the North American enzymes market.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies (India), Aumgene Biosciences (India), Chr Hansen (Denmark), Amano Enzymes (Japan), Roche Holding (Switzerland), Codexis (US), Sanofi (France), Merck (Germany), Enzyme Supplies (UK), Creative Enzymes (US), Enzyme Solutions (US), Enzymatic Deinking Technologies (US), and Biocatalysts (UK).
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