The global enzyme market is anticipated to reach over $21,760.9 million by 2026. In 2017, the carbohydrase segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
These were the findings the recent Market Study Report, titled 2018-2026 Global Enzymes Market Report. It provided a study with in-depth overview, describing the product, industry scope and elaborates the market outlook and status to 2026.
North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The presence of well-established industries such as healthcare, pharmaceutical, and food and beverages, substantial initiatives in research and development, and favourable government policies drive the market growth.
Asia-Pacific is expected to grow at the highest CAGR (compound annual growth rate) during the forecast period owing to increasing adoption of enzymes in food and beverages, and consumer goods.
Enzymes are used in a wide range of applications in the medical and healthcare sector. Enzymes are used in diagnosis of diseases, drug manufacturing, cleaning wounds, assisting in healing processes, and analytical testing for disease detection, among others. In the food industry, enzymes are used in fruit juices, alcohol, baked goods, and preserved food among others.
The diverse applications of enzymes in industries, such as healthcare, food and beverages, pharmaceutical, personal care, textile, and animal feed, among others, is expected to support the growth of this market.
Other driving factors include the introduction of genetically-engineered enzymes, and stringent government regulations regarding use of chemicals. The increasing demand from developing nations, the use of enzymes as alternatives for synthetic chemicals, and technological advancements are expected to provide numerous growth opportunities to the market players during the forecast period.
The well-known companies profiled in the report include AB Enzymes, BBI Enzymes Ltd, Advanced Enzyme Technology Ltd, Roche Holding AG, Sanofi S A, BASF SE, DuPont, Novus International Inc, Novozymes A/S, Associated British Foods PLC, CHR Hansen Holding A/S, and Danisco A/S, among others.
The different applications of enzymes include food and beverages, cosmetics and personal care, textile, animal feed, paper and pulp, medical and pharmaceutical, and others. In 2017, the food and beverage accounted for the highest market share.
The increasing need to offer high quality and good tasting processed food has resulted in the growth of enzymes in this sector. Enzymes are used in baked goods for regulating the rate of chemical reactions in baking processes. The rising demand for a nutritional diet, and favourable government regulations are expected to support market growth during the forecast period.
This report has segmented the global enzyme market on the basis of type, application and region.
Enzymes market size and forecast by type
Protease
Carbohydrase
Polymerases and nucleases
Lipase
Enzymes market growth and forecast by application
Food and beverages
Cosmetics and personal care
Textile
Animal feed
Paper and pulp
Medical and pharmaceutical
Others
