The Specialty Enzymes Market is estimated to be valued at USD 4.4 billion in 2019 and is projected to reach USD 6.6 billion by 2025, recording a CAGR of 6.9% in terms of value. The growing concerns about the enzyme quality in pharmaceuticals & diagnostics and rise in demand for non-harmful biological catalysts are factors that are projected to drive the growth of the specialty enzymes market, globally.
The specialty enzymes market in North America is dominating due to the increasing demand for enzymes in specialty applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the pharmaceutical industry one of the essential sectors in the North America region. However, the shift of industrial operations from developed regions, such as North America and Europe to Asia Pacific, has further contributed to the growth of the specialty enzymes market in Asia Pacific region.
The use of specialty enzymes in biotechnology advancements such as drug cloning, transgenic organisms, and gene modification has been fueling the market in Asia Pacific. Furthermore, the European consumers have shown an inclination toward clean-label and organic products. This has enabled manufacturers to consider organic ingredients as key components of the products. Due to this, the specialty enzymes market in the European region is led by the growing focus on the production of pharmaceutical products, owing to the functional benefits of enzymes.
Key players are BASF (Germany), Novozymes (Denmark), Roche Holding (Switzerland), DuPont (US), Codexis (US), Dyadic International (US), Advanced Enzymes (India), Amano Enzymes (Japan), Sanofi (France), Biocatalysts (UK), Enzyme Supplies (UK), BBI Solutions (UK), Specialty Enzymes & Probiotics (US), Amicogen (South Korea), Antozyme Biotech (India), Enzyme Development Corporation (US), Nagase & Co. Ltd. (Japan), Sekisui Diagnostics (US), Merck (Germany), and Biovet (Bulgaria).
