The global enzymes market is expected to reach USD 17.50
billion by 2024, according to a new report by Grand View Research, Inc. Growing
demand for enzymes in food & beverage products as they improve quality and
eliminate deficiencies in the products is expected to propel industry growth in
the near future.
Increasing demand for bioethanol
and biodiesel in emerging economies including India, Brazil, and Thailand will
augment industry growth over the forecast period. Growing number of government
investments along with R&D activities in industrial enzymes will drive
demand over the next eight years.
Rising population along with
rising living standard will drive processed foods demand, which in turn will
stimulate industry expansion. In addition, emerging protein design algorithms,
along with growing inexpensive DNA sequencing technology will open new market
avenues over the next seven years.
Carbohydrases accounted for 47.7%
of the global market share in 2015, dominating the enzymes industry and the
segment is expected to show significant growth in light of high usage in animal
feed, textile, food & beverages, and pharmaceutical applications. Moreover,
mounting usage of artificial sweeteners, prebiotic products, and juices is
expected to fuel product demand over the forecast period.
North America specialty
enzymes market, by application, 2013 – 2024 (USD Million)
Browse full research report on Enzymes market: http://www.grandviewresearch.com/industry-analysis/enzymes-industry
Further key findings from
the report suggest:
- Specialty
enzymes are anticipated to witness the fastest growth at a CAGR of 9.2%
from 2016 to 2024 on account of increasing awareness regarding therapies
for chronic diseases, along with growing incidences of digestive enzyme
disorders. Moreover, increasing usage of the ingredient for diagnostic
solutions is expected to augment growth. Chemical reactions in research
& biotechnology are accelerated by making the use of enzymes. They
also optimize the yield of the production processes, which is expected to
bolster demand over the forecast period.
- Animal feed
is likely to witness significant growth at a CAGR of 9.0% from 2016 to
2024 as a result of mounting demand for swine, bovine, poultry and
aquaculture species. Growing global meat production coupled with rising
health concern regarding meat quality will augment animal feed demand, which
is expected to stimulate industry expansion.
- North America
enzymes market was valued at USD 3.59 billion in 2015 and will show high
gains in light of favorable government policies along with a robust
manufacturing base in the U.S. Growing demand for animal feed and biofuels
in the U.S. is expected to drive market size.
- Latin America
accounted for 8.3% of the overall enzymes market and will show substantial
growth in light of rapid industrialization coupled with increasing
biodiesel production in Brazil and Argentina.
- Key industry
players include Novozymes, Danisco, Royal DSM, BASF SE, DuPont, Lonza
Group, and Advanced Enzymes Technologies Ltd. In January 2014, DuPont
launched LAMINEX MaxFlow 4G enzyme, intended for increasing texture, taste
and appearance of beer in beverages applications.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-enzymes-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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