Enzymes Market Size Worth USD 16.69 Billion in 2028 | At a CAGR of 6.9%
Enzymes market size is expected to reach USD 16.69 Billion by 2027, according to a new report by Emergen Research.
Increasing demand for the specialty and industrial enzymes from the pharmaceutical and food & beverage sector and growing health awareness among consumers are driving the demand of the market.
The report delineates the pivotal aspects of this market, shedding light on the most prominent market growth possibilities and challenges. The report is primarily targeted at the Enzymes industry participants and stakeholders that can capitalize on the contents of this report and make informed business decisions during the forecast period.
The market size estimation and forecasts have been detailed in this report. The authors have studied the historical background of the Enzymes market, keeping in mind the organic and inorganic growth prospects and threats for the market. Thus, the latest report offers precise estimates of the global market size for the forecast period.
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Key Market Rivals:
- Lonza Group
- Amano Enzyme Inc.
- BASF SE
- Advanced Enzyme Technologies
- Hansen Holdings A/S
- Associated British Foods plc
- Enzyme Development Corporation
The growth of the market can be attributed due to the increasing demand for specialty and industrial enzymes from the pharmaceutical and food & beverage sectors. Increasing investments in the research and biotechnology sector to produce new medicines and diagnostic solutions is augmenting the demand for the industry.
The pandemic has affected the enzymes industry and disrupted the supply chain, raw material supplies, and demand for the product in the market.
The latest report marks profound changes in the global Enzymes market that have followed the COVID-19 outbreak. The COVID-19 impact analysis in the report focuses on the current market scenario and its adverse economic situation.
It has subsequently affected the industry’s supply chains and made prices of and the demand for the product highly volatile. However, market experts believe that the global Enzymes market will regain traction in the post-COVID era. The report further delivers preliminary and future COVID-19 impact assessments of the Enzymes market.
Some Key Highlights From the Report
- The Microorganism segment dominated the market with a share of 60.7% in 2019 due to the low production cost and easy availability.
- The Specialty enzymes are expected to register the highest CAGR of 7.0% over the forecast period due to the growing investments in the research & biotechnology sector and the pharmaceutical industry. Extensive research activities, growing demand for medicines, and increasing initiatives for funding are expected to drive the demand of the enzymes in the pharmaceutical industry and research & biotechnology sector.
- Asia-Pacific is expected to register the highest CAGR of 7.4% over the forecast period due to the increasing urban population in countries such as China, Malaysia, India, and Indonesia, growing awareness regarding chronic disorders and the rising disposable income of the consumers.
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- Source Outlook (Revenue, USD Billion; 2017-2027)
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Polymerases & Nucleases
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Specialty Enzymes (Research & Biotechnology, Pharmaceuticals, Biocatalysts, Diagnostics)
- Industrial Enzymes (Food & Beverage, Animal Feed, Wastewater, Biofuels, Detergents)
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