Enzymes Market Expected To Witness A Substantial Growth Of $17.2 Billion By 2027: Grand View Research Inc.

 

The global enzymes market size is expected to reach USD 17.2 billion by 2027, registering a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for enzymes from the food and beverage industry, especially for the production of brewing and bakery products is one of the key factors driving the market growth.

Food and beverage industry includes several applications such as baking, brewing, dairy, and starch and sugar, which find extensive use in daily human life. In the baking industry, these are used to provide specific properties to the flour or dough. In biscuits and crackers, the use of enzymes helps lower the protein content of flour while their use in bread improves or standardizes the quality and ensures uniform browning of the product. The product is extensively used in the food and beverage industry to improve the quality and productivity of products, which is anticipated to fuel the market growth.

Enzymes are also used as feed additives in the animal feed industry. Phytase, protease, and carbohydrase are used extensively in the animal feed industry. Phytase is an abundant source of phosphorus and a key ingredient required for the growth and repair of tissues and organs of animals. Carbohydrase is utilized for improving the digestion of carbohydrates present in the feed. They further breakdown starch into simple sugars such as fructose, maltose, and glucose. Increasing demand for the product in the animal feed industry due to their multi-functional attributes is anticipated to boost the market growth.

Enzymes used in industrial applications were traditionally extracted from animal organs such as calf stomach, plant materials, and microorganisms (bacteria, yeast, and fungi). With the emergence of technologies such as genetic engineering, manufacturers have a choice of producing required quantity of enzymes in selected production hosts such as microorganisms and transgenic plants. Market participants are focusing on backward integration by using suitable microorganisms such as bacteria, yeast, and fungi and further use those for the production on a commercial scale.

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Growing demand for high-quality food products along with natural taste and flavor contributed to the market growth in the past decade. This trend fueled the demand for the expansion of processed and flavored foods in the industrial enzymes application segment. These food enzymes act as catalysts in breaking down nutrients and vitamins of complex compounds to smaller compounds. Growing awareness concerning the application of enzymes in protein engineering technology and high opportunities in untapped developing countries are projected to positively influence the market growth.

Enzymes Market Report Highlights

• In terms of revenue, the carbohydrase product segment is projected to dominate the market while expanding at a CAGR of 7.4% over the forecast period
• The microorganisms source segment held the largest share of the market in terms of revenue and is anticipated to dominate the enzymes market in the forecast period
• Asia Pacific is projected to witness a remarkable growth rate of 8.1% in the near future, owing to increasing consumption of food and beverage products, detergents, and animal feed in the region
• The market is oligopolistic owing to the presence of three key players including Novozymes, DuPont Danisco, and BASF dominating the market
• Some of the key companies present in the industry are BASF SE, Novozymes, DuPont Danisco, DSM, Associated British Foods plc, Chr. Hansen Holding A/S, and Advanced Enzyme Technologies

Protein engineering is one of the new avenues for research and development application. This area involves invention and production of newer types of enzymes to catalyze reactions that do not occur naturally. The industry is estimated to witness increased demand due to its wide-ranging use across applications including food processing, pre-digestion of baby foods, germination in breweries, fruit juice clarification, cheese manufacturing, meat tenderization, and conversion of starch into glucose.

Enzymes are also witnessing increased demand in paper processing, biofuels, contact lens cleaners, rubber processing, biological detergents, and molecular biology. Increasing consumer awareness regarding improved food quality, population explosion, and significant consumption of dietary requirements are considered to be the key factors contributing to the enzymes market growth.

Grand View Research has segmented the global enzymes market on the basis of application, product, source:

Enzymes Application Outlook (Revenue, USD Million, 2016 - 2027)

• Industrial Enzymes
• Food & Beverages
• Detergents
• Animal Feed
• Biofuels
• Textiles
• Pulp & Paper
• Nutraceutical
• Personal Care & Cosmetics
• Wastewater
• Others
• Specialty Enzymes
• Pharmaceutical
• Research & Biotechnology
• Diagnostics
• Biocatalysts

Enzymes Product Outlook (Revenue, USD Million, 2016 - 2027)

• Carbohydrase
• Proteases
• Lipases
• Polymerases & Nucleases
• Others

Enzymes Source Outlook (Revenue, USD Million, 2016 - 2027)

• Plants
• Animals
• Microorganisms

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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