Enzymes Market is projected to reach USD 16.9 billion by 2027. Report provides crucial industry insights that will help your business grow. The exploitation of new types of enzymes, improvement of enzyme properties, and the production of enzymes are the overall goals of innovations in the enzyme manufacturing industry. The significant progress in genetics and processing technology enables the enzyme industry to offer products with improved properties, often at reduced costs. Genetic engineering opens new paths for enzymes, with improved stability, activity or specificity, and productivity.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46202020
The Asia Pacific region is projected to witness the fastest growth rate of 7.85% during the forecast period. Asia Pacific is the leading region in terms of sugar production and is projected to expand its production share by 2027 (OECD-FAO Agricultural Outlook 2018–2027). Owing to the large production of sugar, enzymes are often used to hydrolyze starch so as to enhance the sugar production process and improve the overall performance. Furthermore, the use of enzymes in the biofuel industry is expected to grow at a higher rate owing to the increase in bioethanol production and its usage in fueling automobiles and electricity and government support. The enzymes market in China, is projected to grow at a higher rate as China has advanced in adapting various new technologies for biotechnology and pharmaceutical-based research & developments. The usage of enzymes in specialty applications has been augmenting in China due to its versatile nature utilized in cell replacements and therapeutic treatments for various medical disorders & diseases. Thus, the expanding production facilities in the region and advancements in adopting technologies for biotech and pharmaceutical industry is boosting the growth of the market in the region.
The key players in this market include Novozymes (Denmark), BASF (Germany), DuPont (US), DSM (Netherlands), Associated British Foods (UK), Merck (Germany), Chr. Hansen (Denmark), Kerry Group (Ireland), Roche Holding (Switzerland), Dyadic International (US), Codexis (US), Sanofi (France), Creative Enzymes (US), Advanced Enzymes Technologies (India), and Biocatalysts (UK).
The food & beverage segment is expected to account for the largest share during the forecast period, Consumers from developed regions such as North America and Europe have been demanding higher-quality food & beverages with natural ingredients due to the increased health conscience. This is propelling the enzymes market players to launch effective products to cater to this consumer segment. Moreover, the use of enzymes in packaged juice processing has benefitted the juice manufacturers in maximizing the amount of juice removed from the fruit, thereby reducing waste, and controlling costs. Increasing demand for beverages, especially in the soft drinks segment, has augmented enzyme application in this sector. This coupled with the increased consumption of packaged juices has been an important factor in fueling this market.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=46202020
The depletion of non-renewable resources has raised the need for and importance of manufacturing biofuels, which have a negligible impact on the environment. In countries with surplus agricultural capacity, ethanol produced from biomass can be used as a substitute, extender, or octane booster as alternatives for traditional motor fuels, such as gasoline, diesel, and kerosene. The increase in demand for biofuel has resulted in more usage of enzymes, such as amylases, lipases, cellulase, and proteases, which are used for the production of biofuel. Amylase enzymes are expected to be major contributors in the biofuel enzymes market due to their ability to sustain at a comprehensive range of temperatures and pH levels. The Asia Pacific countries are launching biofuel policies which are augmenting the growth of enzymes in biofuel applications. For instance, in 2018 India has introduced a biofuel policy which aims to have blending rates of 20% ethanol and 5% biodiesel by 2030 in the country.
