ALBANY, New York, Feb. 6, 2020 /PRNewswire/ -- A number of factors are influencing the high growth trajectory of global enzymes market over the period of 2019 to 2027. And, one of the most significant contributions here would be made by the bioenergy segment, set to reach an output of 173,400 tons by 2022, as per findings of Transparency Market Research study. It claims that the global enzymes market would grow at an 8% CAGR over the period, helping the market pull its worth up to USD 12.2 bn. – an increase from USD 6.4 bn. in 2018 - by the end of 2027.
"A sturdy demand arising from food and beverages industry and need for biofuels is helping the market chart an impressive growth curve. Besides, better research and development partnerships will be propelling the market forward", opines TMR.
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Key Findings of the Enzymes Market Study
- Technical grade to be the most prominent category in global enzymes market in terms of demand
- The successful use in mild conditions and lower costs adding to the demand curve for technical grade enzymes
- Use of technical grade enzymes in intermediates to increase demand; former serves as active diagnostic and pharmaceutical ingredients
- Bioenergy application to dominate enzymes market owing to demand for greener fuel alternatives; microalgae to witness use in fuel development
Explore 296 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on enzymes market by Grade: Technical Grade and Specialty Grade; Type: Carbohydrases, Proteases, Polymerases & Nucleases, Lipases, Phytases, and Others; and Application: Food & Beverages Processing, Personal & Household Care, Animal Feed, Bioenergy, Pharmaceutical & Diagnostic, Textiles, and Others, 2017 to 2027 at https://www.transparencymarketresearch.com/enzymes-market.html
Enzymes Market: Key Driving Factors
Environment sustainability will be the key theme behind growth of global enzymes market over the forecast period. And, use in beer production, and biofuel production will mark the landscape. The study finds global enzymes market growth to be sustained over the stated period by,
- Increasing popularity of beer owing to western influences and TV culture, where drinking the beverage is considered cool is catching on with the masses
- Production increase to 1.94 bn. hectoliters in 2018 from 1.3 bn. hectoliters in 1998
- Efforts put in by countries such as the United States in helping the biofuel market grow – 79 biodiesel production plants exist, operates at 78% capacity; estimates set to see increase in future
- Research efforts such as those demonstrates by Aarhus University in Denmark; the team extracted biofuel from waste oil recently
Key Impediments for Enzymes Market Players
The research by Transparency Market Research study paints a promising picture for the global enzymes market. However, there are certain restraints that hamper the growth graph from reaching its zenith over he forecast period. According to the study, key restraint includes, concerns regarding safe handling and storage of enzymes owing to their sensitivity to changes in pH and temperature
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Enzymes Market: Region-wise Analysis
- North America to account for largest share; growth attributable to massive use of enzymes in food and beverages processing and in biodiesel plants, particularly in the United States
- Major drivers of growth in the enzymes market in the U.S. and Canada include strict regulation paving way for bioenergy
- Asia Pacific to generate lucrative opportunities, owing to increase in foreign direct investment in biotechnology; countries such as China and India to lead the regional landscape over the forecast period
Analyze enzymes market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,
According to Transparency Market Research, the global enzymes market is consolidated with about half the market share held by top three players. Furthermore, the vendor landscape is also highly competitive. One of the key determinants of brand growth over the forecast period will be research and development, and synergistic alliances. Players are also highly focused on improving product portfolio.
The key companies that have set the market on a high growth trajectory in the past and continue to be aggressive in their strategic maneuvers are BASF SE, Novozymes A/S, DowDuPont Inc., AB Enzymes GmbH, Biocatalysts Ltd, Chr., Hansen Holding A/S, Koninklijke DSM N.V., and F. Hoffmann-La Roche Ltd., Advanced Enzyme Technologies Limited, Asahi Kasei Corporation, CapriEnzymes, Maps Enzymes Ltd., SUNSON INDUSTRY GROUP CO., LTD., Tex Biosciences, LUMIS BIOTECH PVT LTD., Nature BioScience Pvt. LTD., Shanghai Shingenzyme Biochemical Industry Co., Ltd., and Zaozhuang Jienuo Enzyme Co., Ltd, among others. The top players are profile in the market report prepared TMR.
Transparency Market Research has segmented the enzymes market based on grade, application, and region.
Global Enzymes Market: Research Scope
Global Enzymes Market Grade Outlook (Revenue, USD Million 2019-2027)
- Technical Grade
- Specialty Grade
Global Enzymes Market Type Outlook (Revenue, USD Million 2019-2027)
- Polymerases & Nucleases
- Others (catalases, esterase, phospholipase etc.)
Global Enzymes Market Application Outlook (Revenue, USD Million 2019-2027)
- Food & Beverages Processing
- Dairy Products
- Bakery Products
- Personal & Household Care
- Animal Feed
- Pharmaceutical & Diagnostic
- Others (pulp & paper, leather processing, etc.)
Global Enzymes Market Region-wise Outlook (Revenue, USD Million 2019-2027)
- North America
- Latin America
- Rest of Latin America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Chemical and Materials industry,
Textile Enzymes Market - The global textile enzymes market stood at US$201.5 million in 2017 and is projected to clock a CAGR of 4.0% during 2018–2026.
Industrial Enzymes Market - In terms of type, the industrial enzymes market can be classified into carbohydrases, proteases, polymerases & nucleases, lipases, phytases, and others. The majority of the market is covered by carbohydrases and proteases.
Specialty Enzymes Market - The global specialty enzymes market is expected to be worth US$3,726.4 mn by the end of 2025 from US$1,782.0 mn in 2016. The report projects that the global market is likely to rise at a CAGR of 8.7% between 2017 and 2025.
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Magneto Rheological Fluid Market - The global magneto rheological fluid market is projected to expand at an impressive CAGR of ~21% during the forecast period. Surge in demand for 'smart materials', increase in awareness pertaining to the benefits of magneto-rheological fluids, and rise in investments in research and development activities are some of the major factors that are likely to propel the growth of the magneto rheological fluid market.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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