New Research Discovered, Enzymes Market Expected Healthy Growth by 2024

Portland, OR -- (SBWire) -- 06/12/2018 --Enzymes Market, by Type, Source, Reaction Type, and Application: Global Opportunity Analysis and Industry Forecast, 2018-2024," the global enzymes market was valued at $7,082 million in 2017, and is projected to reach $10,519 million in 2024, registering a CAGR of 5.7% from 2018 to 2024.

The global enzymes market is segmented on the basis of type, source, reaction type, application, and region. On the basis of type, the market is fragmented into protease, carbohydrase, lipase, polymerase and nuclease, and other types. Carbohydrase accounted for the largest market share in 2017, and is expected to continue this trend throughout the forecast period. This is attributes to the fact that carbohydrase is the most prominent type of enzyme used in pharmaceutical and food industries. On the other hand, polymerase and nuclease enzymes possess highest growth potential in the global enzymes market, and is expected to grow at a CAGR of 9.8% during analysis period.

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COMPANY PROFILES

9.1. AB Enzymes GmbH

9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Product portfolio
9.1.4. Key strategic moves and developments

9.2. Advanced Enzyme Technologies Ltd.

9.3. Amano Enzyme Inc.

9.4. BASF SE (BASF Corporation)

9.5. Codexis, Inc.

Enzymes are biocatalysts, which accelerate various biochemical reactions. In the current scenario, enzymes serve as useful biocatalysts for several industrial processes and chemical reactions Moreover, they play an important role in chemical engineering, food technology, and agriculture. The utilization of enzymes minimizes the cost, reduces the time of manufacturing process, and provides better substrate quality for reaction.

Enzymes are widely used in detergents industry to facilitate the removal of stains from clothes. In addition, they are employed in food and beverages industry in wide range of processes such as baking and brewing. In the pharmaceutical industry, enzymes are used for drug formulation. Moreover, enzyme-based drugs are used for the treatment of chronic conditions such as cancer and AIDS. In addition, enzymes are widely utilized in the biotechnology industry for research in the field of molecular biology. They are used in genetic engineering techniques to cut, replicate, and attach the DNA strands as per requirement. Furthermore, enzymes play a major role in the diagnosis of diseases such as cancer, cardiovascular diseases, and lysosomal disorder.

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The factors that drive the growth of the enzymes market include upsurge in demand for cellulosic- & amylase-based biofuels, rise in need for effective pharmaceuticals & cosmetics, upsurge in usage of functional food & beverages (that contain enzymes), and increase in usage of enzyme-based techniques for detection & treatment of various chronic diseases. However, restrictions related to chemical properties of enzymes and safety issues arising due to the contamination of enzymes impede the market growth. On the contrary, surge in adoption of enzyme-based technology such as protein engineering and high untapped potential in the emerging economies are expected to provide lucrative growth opportunities for the market expansion.