DUBLIN–(BUSINESS WIRE)–The “Global Enzymes Market By Source, By Type, By Reaction Type, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Enzymes Market size is expected to reach $13.2 billion by 2027, rising at a market growth of 8% CAGR during the forecast period.
Protein molecules that behave as a biological catalyst to accelerate metabolic reactions are termed as enzymes. Enzymes also display functions like the capacity to react with a particular reactant. Over the years, enzymes find applications in various fields like photography, food processing, contact lens cleaners, paper, rubber, biofuels, molecular biology sectors, and biological detergents.
The growth of the enzyme market is directly proportional to the massive demand for the enzyme in end-use industries such as food & beverage, home cleaning, animal feed, and biofuel. Moreover, the global enzyme market is expected to fuel by the growing awareness about health among consumers, which, in turn, increased the consumption of functional food products.
In addition, factors like massive demand for high-quality food products and natural taste & flavor have supported the growth of the market. This pattern helps in increasing the demand for the popularity and acceptance of flavored & processed foods. These food enzymes behave as catalysts to disintegrate vitamins and nutrients of complex compounds into smaller compounds. Some of the determinants for the growth of the enzymes market are increasing awareness regarding the usage of enzymes in protein engineering technology and emerging growth possibilities in unexplored markets.
Source Outlook
Based on Source, the market is segmented into Animals, Plants and Microorganisms. Microorganisms-derived enzymes segment is expected to lead the market in 2020, owing to their broad-scale production, the advent of genetically engineered microorganisms, and wide applications. On the other hand, the purification of microorganism-derived enzymes is a tedious process in comparison to plant enzymes.
Type Outlook
Based on Type, the market is segmented into Protease, Carbohydrase, Lipase, Polymerase and Nuclease and Other Types. Carbohydrase procured the maximum revenue share of the global market in 2020 and is expected to display a similar trend during the forecast period. This is because that the carbohydrase is the major of enzyme utilized in the pharmaceutical and food industries. Thus, commercial uses of carbohydrase in food items and detergents is expected to boost the segment growth during the forecast years.
Reaction Type Outlook
Based on Reaction Type, the market is segmented into Transferase, Lyase, Hydrolase, Oxidoreductase and Other Reaction Types. Enzymes are segmented as per their functions on a molecular level. These kinds of enzymes are utilized to accelerate the transfer of functional groups, electrons, or atoms, and are given the names on the basis of the type of reaction they catalyze. Transferases have gained high traction in the last couple of years because of their attribute of transferring amino, phosphoryl, acetyl, and methyl groups from one substrate to another.
Application Outlook
Based on Application, the market is segmented into Household Care, Bioenergy, Pharmaceutical and Biotechnology, Food & Beverages, Feed and Other Applications. The market is experiencing a significant hold of the household segment in 2020. The development of the household care segment is due to the aspects like increasing adoption of products containing enzymes instead of petrochemical-derived ingredients, as the latter is likely to pollute the environment to a large extent.
Companies Profiled
- BASF SE
- International Flavors & Fragrances, Inc. (DuPont Nutrition)
- Associated British Foods PLC (Wittington Investments Limited)
- Koninklijke DSM N.V.
- Novozymes A/S
- Kerry Group PLC
- Chr. Hansen Holding A/S
- Merck Group
- Sanofi S.A.
- Codexis, Inc.
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