DUBLIN–(BUSINESS WIRE)–The “Specialty Enzymes Global Market Report 2021: COVID-19 Implications and Growth to 2030” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global specialty enzymes market.
The global specialty enzymes market is expected to grow from $4.28 billion in 2020 to $4.41 billion in 2021 at a compound annual growth rate (CAGR) of 3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $6.1 billion in 2025 at a CAGR of 8%.
Companies Mentioned
- BASF SE
- Novozymes A/S
- Roche Holding AG
- Codexis Inc.
- Specialty Enzymes & Probiotics
- Advanced Enzyme Technologies Ltd.
- BBI Solutions
- E. I. du Pont de Nemours and Company
- Sanofi
- Amano Enzyme Inc.
- Nagase & Co. Ltd.
- Affymetrix Inc.
- Biocatalysts Ltd
- Life Technologies Corporation
- Amicogen Inc.
- AB Enzymes
- Dyadic International Inc.
- Chr. Hansen Holding A/S
- Merck KGaA
- Biovet Private Limited
- Antozyme Biotech
- Kerry Inc.
- Thermo Fisher Scientific Inc.
- Koninklijke DSM N.V.
- Aum Enzymes
- Ultra Bio-Logics Inc.
- Aumgene Biosciences
- The Soufflet Group
- Shandong Longda Bio-Products Co. Ltd.
Reasons to Purchase
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The specialty enzymes market consists of sales of specialty enzymes which are proteins acting as biocatalysts to accelerate the rate of reactions. The revenue generated by the market involves the sales of specialty enzymes that include carbohydrases, proteases, lipases among others in liquid or dry form, which are produced either from microorganisms, plants or animals. Specialty enzymes are primarily used in pharmaceutical, diagnostics, animal nutrition, food & beverage, research, and biotechnology.
The specialty enzymes market covered in this report is segmented by type into carbohydrases, proteases, lipases, polymerases & nucleases, oxidase & hydratases, others. It is also segmented by source into microorganisms, animals, plants and by application into pharmaceutical, diagnostics, research & biotechnology, food & beverage, animal nutrition, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Ethical and societal issues are factors that will slow down the market growth during the forecast period. The clashing public opinions on these issues will determine the acceptability of new industrial biotechnology products. In 2019, a published article stated that there are five societal and ethical themes concerning industrial biotechnology, namely sustainability, naturalness, risk management, innovation trajectories and economic justice. Many critics state the factor affecting economic justice is that the applications of industrial biotechnology lead to the concentration of knowledge and power in the hands of a few companies. Thus, societal and ethical issues are expected to impact market growth.
Growing investment in biotechnology research & development is expected to boost market growth during the forecast period. Specialty enzymes are widely used in biotech research and development, particularly in molecular biology. The increasing investment and an increase in the number of companies conducting biotechnology research & development will in turn increase the number of biotech researches.
Technological advancements show opportunities for the production of enzyme products in a more efficient way. Challenges such as complexity in maintaining pH, operational high temperature of specialty enzymes and significant cost of maintenance of specialty enzyme products paves way for technological advancements. In 2019, an article published in Plant Biotechnology Journal stated the commercial launch of leaf pectinase powder developed using a new platform technology namely leaf-production platform.
The leaf pectinase powder produced using leaf-production platform showed promising results like functionality in broad pH/temperature ranges as crude leaf extracts, leaf pectinase powder was stored up to 16 months at ambient temperature without loss of enzyme activity, unlike commercial enzyme products. This leaf-production platform is a novel technology for enzyme production with the elimination of fermentation, purification, concentration, formulation and cold chain processes.
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