Enzymes Market Predicted to Reach $10.2 Billion by 2031: Allied Market Research Says
Allied Market Research
6 min read
Allied Market Research
Rise in demand for enzymes in various industries such as pharmaceutical, food & beverage, detergent, paper & pulp industries, biotechnology and biofuel and rise in prevalence of various chronic diseases such as digestive diseases & inflammation, cancer and AIDS drive the growth of the global enzymes market. Based on region, the segment held the highest share in 2021 and is expected to maintain its dominance from 2022 to 2031. Based on region, North America is expected to hold the lion’s share during the forecast period.
Portland, OR, Aug. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global enzymes market generated $5.8 billion in 2021, and is estimated to reach $10.2 billion by 2031, witnessing a CAGR of 6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Type, Source, Reaction Type, Application and Region
Drivers
High demand for enzymes in food & beverage companies for converting complex molecules to simpler molecules
Rise in cases of chronic diseases such as digestive diseases & inflammation, cancer and AIDS
Surge in demand for enzymes in pharmaceutical industry to synthesize intermediates in active pharmaceutical ingredient (API) production for effective medications
Upsurge in demand for renewable energy sources such as biofuels
Opportunities
Increase in awareness about the application of enzymes in protein engineering technology
Higher market potential in the untapped emerging economies
Restraints
Handling & safety issues associated with enzymes and higher sensitivity of enzymes to temperature & pH
Impact of Covid-19 on Enzymes Market:
The COVID-19 pandemic had a positive impact on the enzymes market, owing to increase in demand for enzymes in nutritional & immunity boosting products along with rise in consumer focus on household care and upsurge in in-house food consumption.
Companies in the market faced obstructions due to intermittent supply chain activities and uncertain market conditions owing to trade restrictions and lockdowns. This negative impact is expected to be remunerated by surge in demand for enzymes in the food & beverages and pharmaceutical industries.
The report offers detailed segmentation of the global enzymes market based on source, reaction type, application, type and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on source, the microorganisms segment held the highest share in 2021, contributing to more than half of the global enzymes market, and is likely to maintain its leadership status during the forecast period. However, the plants segment is expected to manifest the highest CAGR of 7.0% from 2022 to 2031. The report also provides an analysis of animals segment under this category.
Based on reaction type, the hydrolase segment held the highest share in 2021, contributing to more than two-thirds of the global enzymes market, and is likely to maintain its leadership status during the forecast period. However, the transferase segment is expected to manifest the highest CAGR of 7.6% from 2022 to 2031. The report also provides an analysis of the segments such as oxidoreductase, lyase, and others under this category.
Based on application, the household care segment held the largest share in 2021, accounting for nearly one-third of the global enzymes market. However, the pharmaceutical and biotechnology segment is estimated to witness the fastest CAGR of 7.3% during the forecast period. The report also discusses the segments including food and beverages, bioenergy, feed and others under this category.
Based on type, the carbohydrase segment held the largest share in 2021, accounting for more than two-fifths of the global enzymes market and would maintain its dominance during the forecast period. However, the polymerase and nuclease segment is estimated to witness the fastest CAGR of 9.6% during the forecast period. The report also discusses the protease, lipase and other segments under this category.
Based on region, North America accounted for the highest share in 2021, contributing to more than one-third of the global enzymes market. However, Asia-Pacific is projected to portray the fastest CAGR of 7.9% during the forecast period. The research also analyzes the regions including Europe and LAMEA.
Leading players of the global enzymes market analyzed in the research include Novozymes A/S, Koninklijke DSM N.V., DuPont de Nemours, Inc., BASF SE, Advanced Enzyme Technologies Ltd., AB Enzymes GmbH, Codexis, Inc., Amano Enzyme, Inc., F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific Inc.
The report analyzes these key players of the global enzymes market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
