Sarasota, FL -- (SBWire) -- 09/18/2018 --DuPont, Abbott Laboratories, Pfizer, Inc, Eli Lilly Company, Amgen, Inc., F. Hoffmann-La Roche Ltd., Novozymes, Merck & Co., Inc., Bayer AG, Novartis AG, Shanghai Zheyang Chemical Co. Ltd., Novo Nordisk A/S, Roqutte Freres, and The Soufflet Group among others are some of the major companies present in the alcohol enzymes market. Novozymes rolled out Sanferm Yield that allows distillers to elevate their yield with less need of raw materials. In addition, in August 2018, Pfizer acquired Medivation for $14 Billion, thereby strengthening its position in the alcohol enzymes market.
According to analysts at Zion Market Research, the global alcohol enzymes market was capitalized at more than USD 1.9 Billion in 2016. The global alcohol enzymes market is likely to cross more than USD 3.0 Billion by end of 2022 and is likely to develop at a CAGR of slightly more than 7.7% from 2016 to 2022.
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Huge Requirement For Processed Food Including Wine Due To Altering Lifestyle Set To Bolster The Development Of Global Alcohol enzymes market
There has been a huge requirement for other processed food including wine due to altering lifestyle, which in turn has resulted in the possible development of alcohol enzymes market, as per analysts at Zion Market Research. Easy availability of raw materials and increasing discretional income for the making of alcohol enzyme is likely to positively affect the development of alcohol enzymes market in the years to come. In addition to this, various applications of alcohol enzymes in biofuel, food & beverage industry, and as cleaning agents are expected to tower the development of alcohol enzymes market in the coming years. Stringent regulation applied by governing agencies might hamper the development of alcohol enzymes market. Nevertheless, untapped areas of alcohol enzymes in the emerging nations are likely to provide abundant avenues for development over the forecast period in alcohol enzymes market.
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Carbohydrase To Be The Major Income Generator Sector Of The Alcohol Enzymes Market In The Years To Come
Based on types, the alcohol enzymes market is divided as proteases, carbohydrase, and others including lipases. Carbohydrase is the major income generator division in alcohol enzymes market owing to the huge requirement in the food sector. Carbohydrase gets a broad range of application in products and industrial processes. Carbohydrase plays a role of sweetener substitute to enhance the juices and wines' sensory properties and to lower amount of lactose in milk. Alcohol enzymes are used in specialty and industrial applications such as cleaning agents, food & beverage, pharmaceutical, biofuel production, research & biotechnology, and bio-catalyst among others, boosting the alcohol enzymes market. Among all, food & beverage is the dominating sector with significant market share in the alcohol enzymes market.
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The global alcohol enzymes market is segmented as follows:
By Application
Carbohydrase
Proteases
Lipases
Others
By Type
Industrial
Specialty
By Region
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Alcohol Enzyme Market to Exhibit 7.7% CAGR Between 2016 and 2022
Alcohol Enzymes Market Likely To Achieve New Heights And Reach Above USD 3.0 Billion in 2022