World Enzymes Market - food and beverages manufacturing will remain the largest market
NEW YORK, Sept. 5, 2016 /PRNewswire/ -- Globally, enzymes used in the manufacture of food and beverages will remain the largest market by value, with advances driven by increasing consumption of products containing enzymes in developing regions. Almost all industrial markets will experience healthy growth, with the exception of biofuels. Specialty markets will experience stronger growth, driven by changes in healthcare and the pharmaceutical industry. While the demand for enzymes used in research and biotechnology and diagnostics are forecast to register strong gains, the fastest growth will be seen for biocatalysts, particularly those utilized in the production of pharmaceuticals.
Producers face intense competition
As presented in the study World Enzymes, developed countries have mature industrial markets with high levels of competition among enzyme manufacturers. In order to maintain and expand market share, manufacturers must continually improve their enzymes to offer efficient performance at lower temperatures or under more extreme pH conditions, lower costs through reduced energy and water usage, or higher quality end products and larger amounts of marketable co-products. This continued introduction of new enzyme formulations will fuel moderate growth in mature markets like food and beverages, cleaning products, and textiles and leather. Heightened interest in more niche applications, such as enzymatic production of protein hydrolysates for flavoring or protein supplementation, will also support growth in developed countries.
Rising healthcare costs to drive enzyme growth
It is projected that specialty enzyme markets are expanding at a strong pace globally. Rising healthcare costs have led to the adoption of "personalized" medicine -- healthcare tailored to the individual based on their clinical profile, genetic background, and personal preferences -- by many providers. This approach to medicine requires the increased use of diagnostic testing as well as genomic sequencing, helping to drive strong demand for diagnostic enzymes. In developing countries, the number of diagnostic tests performed will increase as the number of insured individuals rises, further supporting growth in demand for the enzymes used in diagnostic testing. The competitive nature of the pharmaceutical industry will also lead to strong growth in specialty enzyme demand. Pharmaceutical companies will invest more in the development of biological pharmaceuticals, which will fuel demand for enzymes used in research and biotechnology. In addition, pharmaceutical companies will increasingly utilize biocatalysts to reduce the cost of pharmaceutical manufacturing and make non-generic drugs more cost-competitive.
Study coverage
World Enzymes presents historical data (2005, 2010 and 2015) plus forecasts (2020 and 2025) for supply and demand, as well as demand by type and market, in 6 regions and 15 countries. This study also considers key market environment factors, evaluates company market share and profiles 20 global competitors.
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Read the full report: http://www.reportlinker.com/p0747897-summary/view-report.html
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