Enzymes Market worth $16.9 billion by 2027

Chicago, Oct. 11, 2022 (GLOBE NEWSWIRE) — According to MarketsandMarkets™, the global enzymes market is projected to reach USD 16.9 billion by 2027, growing at a CAGR of 6.8% from 2022 to 2027.

The exploitation of new types of enzymes, improvement of enzyme properties, and the production of enzymes are the overall goals of innovations in the enzyme manufacturing industry. The significant progress in genetics and processing technology enables the enzyme industry to offer products with improved properties, often at reduced costs. Genetic engineering opens new paths for enzymes, with improved stability, activity or specificity, and productivity.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46202020

Enzymes are used in various other industrial applications such as food & beverage processing, detergents, textiles & leather, paper & pulp, wastewater treatment, feed, starch processing, cosmetics & personal care products, and oilfield & fine chemicals. The major types of enzymes used in the industrial and specialty applications are carbohydrases (amylases, cellulases, other carbohydrases such as pectinase, lactase, mannanase, and pullulanase), proteases, lipases, and other types such as isomerases, transferases, betaglucanases, arabinoxylanases, amyloglucosidase, and pullulanase. Enzymes are also used in various specialty applications such as pharmaceuticals, research & biotechnology, diagnostics, and biocatalysts.

Proteases segment is identified to be the fastest growing among the various types of enzymes during the forecast period. Proteases are the enzymes essential for the digestion of protein. They are used to hydrolyze all types of proteins until they become components of the living cells. These enzymes can be obtained from plants, animals, and microorganisms in several conditions, such as high salt concentrations. Proteases have been offered by major key players such as BASF (Germany) and DuPont (US) for industrial applications such as food & beverages, biofuel, textiles & leather, and paper & pulp.

Browse in-depth TOC on “Enzymes Market”

389 – Tables
51 – Figures
333 – Pages

The pharmaceutical industry dominated the specialty enzyme by application segment in 2022 with USD 2.4 Billion and is expected to grow USD 3.2 Billion by 2027. The players in the market are involved in expansion of production facilities and agreement to increase their penetration in the market. For instance, in June 2022, Merck KGaA expanded its production facility of Pharma ingredients like High Potent Active Pharmaceutical Ingredients (HPAPI) production capacity in Wisconsin, US. In September 2021, Codexis extended the agreement with Merck to supply a proprietary enzyme used in the manufacturing process for sitagliptin, the active pharmaceutical ingredient.

Based on product type, the market for enzymes is segmented as industrial enzymes and specialty enzymes. The industrial enzymes product type dominated the enzymes market in 2021. With advancements in technology, the application of enzymes expanded in various industrial applications. The ability of industrial enzymes to catalyze the chemical reactions and the increase in the number of applications have led to the growth of the enzymes market. Specialty enzyme’s demand in the research & biotechnology end-market would benefit from the reduction in DNA sequencing costs and the increase of new sequencing techniques.

The growth potential for enzymes market has been projected to be high due to the increasing product launches, collaborations, partnerships, and acquisitions by the players in the industry. For instance, in 2022, Kerry group has acquired c-LEcta which specializes in precision fermentation, biotransformation and optimized bioprocessing in order to create high-value enzymes and ingredients. The objective of this acquisition is to expand its expertise, technology portfolio and manufacturing capabilities of enzymes. In December 2021, Codexis launched a product named “Codex HiTemp Reverse Transcriptase”. This enzyme is specifically engineered and optimized for enhanced thermostability and robustness to address known challenges in handling clinical samples. In February 2021, Merck KGaA partnered with BioNTech to supply urgently needed lipids and to increase the amount of lipid delivery. In 2020, Merck KGaA collaborated with Mammoth Biosciences (US) to scale-up and commercial production of SARS CoV-2 test.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=46202020

Asia Pacific region to witness the highest growth rate in the enzymes market during the forecast period

The Asia Pacific region is projected to witness the fastest growth rate of 7.85% during the forecast period. Asia Pacific is the leading region in terms of sugar production and is projected to expand its production share by 2027 (OECD-FAO Agricultural Outlook 2018–2027). Owing to the large production of sugar, enzymes are often used to hydrolyze starch so as to enhance the sugar production process and improve the overall performance.

The enzymes market in China is projected to grow at a higher rate as China has advanced in adapting various new technologies for biotechnology and pharmaceutical-based research & developments. The usage of enzymes in specialty applications has been augmenting in China due to its versatile nature utilized in cell replacements and therapeutic treatments for various medical disorders & diseases.

The key players in this market include Novozymes (Denmark), BASF (Germany), DuPont (US), DSM (Netherlands), Associated British Foods (UK), Merck (Germany), Chr. Hansen (Denmark), Kerry Group (Ireland), Roche Holding (Switzerland), Dyadic International (US), Codexis (US), Sanofi (France), Creative Enzymes (US), Advanced Enzymes Technologies (India), and Biocatalysts (UK).

Browse Adjacent Reports: Food and Beverage Market Research Reports & Consulting

Related Reports:

Specialty Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, and Other enzymes), Source, Application (pharmaceuticals, Research & Biotechnology, Diagnostics, and Biocatalysts), Form, and Region – Global Forecast to 2025

Agricultural Enzymes Market by Type (Phosphatases, Dehydrogenases, Sulfatases), Product Type (Fertility Products, Growth Enhancing Products), Crop Type (Cereals & Grains, Oilseeds & Pulses, Turf & Ornamentals), and Region – Global Forecast to 2022