Global demand for enzymes market was valued at approximately USD 7.48 billion in 2018 and is expected to generate revenue of around USD 11.03 billion by end of 2025, growing at a CAGR of around 5.7% between 2019 and 2025.
The report covers forecasts and analyses for the Enzymes Market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on volume (Kilotons) and revenue (USD Billion). The study includes drivers and restraints for the enzymes market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the enzymes market on a global as well as regional level.
As per the report, the global demand for the enzymes market was valued at approximately USD 7.48 billion in 2018 and is expected to generate revenue of around USD 11.03 billion by end of 2025, growing at a CAGR of around 5.7% between 2019 and 2025.
Enzymes are biocatalysts that speed up different biochemical reactions. Enzymes are useful biocatalysts in a variety of industrial and chemical processes in the present scenario. They play an important role in chemical engineering, food technology, and farming. The use of enzymes minimizes costs, reduces production time, and improves the quality of the reaction of the substrate. Enzymes are commonly used in the detergent sector for the removal of cloth stains. In addition, they are used in a variety of processes like baking or brewing in the food and beverage industry. Moreover, enzymes are also used for drug formulation in the pharmaceutical industry.
The rising need for effective cosmetics & pharmaceutical products and surging demand for functional food & beverages are the factors driving the global enzymes market. Moreover, increasing the application of enzyme-based techniques for the detection & treatment of various chronic diseases is likely to boost the growth of enzymes market. Additionally, the increasing usage of enzymes in the food & beverage and paper & pulp industry is further expected to accelerate the enzymes market growth in the upcoming years as well. However, the stringent government regulations in developed countries are likely to restrain the market growth in the near future. Conversely, the manufacturers of enzymes are largely focusing on research & development to enhance the functionalities of the enzyme. Thus, this is anticipated to offer lucrative opportunities to the global enzymes market during the forecast period.
The global enzymes market is classified on the basis of product type, source, reaction type, application, and end-user. The product type segment includes polymerase & nucleases, protease, carbohydrase, lipase, and others. The carbohydrate segment dominated the global enzymes market and accounted for around 48% of the market share. The carbohydrase enzyme is widely used in the production of sugar syrup in the food processing industry. Based on the source, the market is segmented into microorganisms, plants, and animals. The reaction type segmentation includes hydrolase, oxidoreductase, transferase, lyase, and others. General cargo accounted for the largest market share in 2018 and is expected to register significant growth during the forecast period. The application segmentation includes household care, pharmaceutical & biotechnology, food & beverages, bioenergy, feed, and others. The pharmaceutical segment is projected to dominate the global enzymes market owing to the growing application of enzymes in the manufacturing process of generic drugs.
In 2018, North America dominated the global enzymes market. In North America, the U.S. is projected to be the dominating nation owing to the rising use of enzymes in diagnostic and pharmaceutical applications. Additionally, the manufacturers in North America are focusing on enhancing the capacity of enzyme production due to growing demands in various end-user industries.
Some of the key players operating in the global enzymes market include Amano Enzyme Inc., AB Enzyme, Agilent Technologies, Novozyme A/S, BioVision Inc., ENMEX, Bioline, F. Hoffmann-La Roche AG, Fapon Biotech Inc., Lucigen, DowDuPont Inc., New England Biolabs, DNA Polymerase Technology, Inc., and Biorbyt Ltd., among others.