The global Enzymes market is forecasted to reach USD 11.03 Billion by 2028, according to a new report by Reports and Data. Enzyme market has gathered special attention in the past few years owing to its vast applications. They are utilized in food and animal feed, detergents and textiles, manufacturing industries, pharmaceuticals and biotechnology R&D, leathers and others. Applications of enzymes in the manufacturing process result in cost reduction due to less energy consumption, and better substrate activity.
The report provides market estimations such as market size, market share, revenue growth, and CAGR, and market analysis for the forecast period of 2021-2028. The report also offers a comprehensive analysis of the competitive landscape with company profiles and product portfolios. To provide a deeper understanding of the global market, the report offers a statistical analysis of the global and local production and consumption ratio.
Key companies in the report:
AB Enzymes GmbH, Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., BASF SE (BASF Corporation), Codexis, Inc., DowDuPont Inc., F. Hoffmann-La Roche Ltd., Koninklijke DSM N.V., Novozymes A/S, and Thermo Fisher Scientific Inc. (Affymetrix, Inc.) among others.
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Rising global population has led to increasing number of construction and building activities across the globe, in turn, driving demand for materials and chemicals. Availability of advanced finishing materials, environmentally sustainable raw materials and chemicals, and growing progress of plastics industry has significantly contributed to the revenue growth of the market. Chemicals and materials industry is a crucial part of the world economy and produces over 70,000 products that are needed across various end-use industries. Consumer products such as soaps, detergents, and cosmetics, along with electronic gadgets, automobiles, and paints & cosmetics, among others are in high demand across the globe and are majorly dependent on various types of chemicals and materials. International corporations are actively engaged in developing sustainable products to reduce carbon emissions and pollution and ensure safe operations of the facilities. These key factors have significantly contributed to market revenue growth and is expected to continue to do so going ahead.
For the purpose of this report, Reports and Data have segmented global Enzymes market on the basis of Type, Source, Reaction Type, Formulation, Application, and Region:
Type Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
Polymerases and Nucleases
Source Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
Reaction Type Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
Formulation Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
Other (gel and granular forms)
Application Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
Food & Beverage
Pharmaceuticals and biotechnology
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Key companies are focused on mergers and acquisitions, joint ventures, collaborations, partnerships, product launches, brand promotions, and R&D activities among others to cater to growing global demand and gain a strong foothold in the market. The report also analyzes the presence of key companies, their ventures, and investment and funding opportunities in key regions of the world including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Further key findings from the report suggest
Food and Beverages hold a market share of 24% in the year 2018 and is forecasted to hold a market share of 25% in the year 2028 with an annual growth rate of 6.0%
Enzymes find its application in consumer products such as detergents. Even a molecule of the enzyme in the detergent can boost its ability to act on substrate molecules such as soil.
Household occupy a market share of 22% in the year 2018 and is forecasted to hold a market share of 23% in the year 2028 with the highest annual growth rate of 6.1%
Microorganisms have a market share of 37% in the year 2018 and are forecasted to hold a market share of 38% in the year 2028 with 5.8% annual growth rate throughout the forecast period.
Based on reaction type, the enzyme market is segmented into Hydrolase, Transferase, Oxidoreductase, Lyase, and Other Enzymes.
Hydrolase has the largest market share of 24% in the year 2018 and is forecasted to hold a market share of 25% in the year 2028 with an annual growth rate of 6.0% throughout the forecast period.
North America will have the largest market share of 27% in the year 2018 and is forecasted to hold a market share of 28% in the year 2028 with an annual growth rate of 6.0% throughout the forecast period.
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