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.
Vancouver, BC -- (SBWIRE) -- 01/14/2021 -- The rising need for speciality and industrial enzymes in the biopharmaceutical industry and increasing consumer alertness is propelling the industry growth.
The Global Enzymes Market is forecast to attain a valuation of USD 16.69 Billion by 2027, according to the latest analysis by Emergen Research. The industry growth can be attributed to the augmenting demand for industrial enzymes from the food and beverage industry. The rising investment and funding in research and biotechnology vertical to develop new medications and diagnostic approaches are anticipated to add traction to the industry's expansion.
The COVID-19 pandemic has had an impact on the enzymes industry by causing disruptions in the global supply chain, availability of raw materials, and by affecting the demand of the industry. The advent of the financial crisis has altered consumer buying habits, thereby impacting the growth of the sector. The situation has also affected the sales of the product. However, the market is set to regain momentum due to the increased demand for enzymes owing to the upsurge in diagnostic and medical testing amid the pandemic.
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Key Highlights from the Report:
The microorganism segment is forecast to command the market share during the projected timeline owing to the low costs associated with production and easy availability. The segment held a 60.7% industry share in 2019.
The specialty enzymes segment is estimated to grow at the highest annual growth rate of 7.0% throughout the projected timeline owing to the rising investment in the research and development of the biotechnology and pharmaceutical sector. Extensive research, increasing demand for medicines, and the increasing financial support are expected to bolster the industry growth.
Asia Pacific is estimated to be the critical revenue-generating market, expanding at a CAGR of 7.4%, throughout the forecast timeline attributable to the rising urban population in emerging economies such as China, Malaysia, Indonesia, and India. Moreover, the growing awareness regarding chronic illnesses and the increasing disposable income are anticipated to add traction to market growth.
DuPont, Lonza Group,Enzyme Development Corporation,DSM,Associated British Foods Plc Advanced Enzyme Technologies, Novozymes, Hansen Holdings A/S, BASF SE, and,Amano Enzyme Inc., among others are some of the key players of the industry.
For the purpose of this report, Emergen Research has segmented the market based on source, product, application, and region:
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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Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East &Africa
Rest of MEA
Key Summary of the Enzymes Market Report:
Insightful information regarding the global Enzymes market
Identification of growth in various segments and sub-segments of the Enzymes market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision making process through the detailed description of the drivers, restraints, growth prospects, and limitations
Thorough SWOT analysis and Porter's Five Forces analysis along with feasibility analysis and investment return analysis
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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