Enzymes Market - By Product (Carboydrases, Proteases, and Lipases), By Application (Food & Beverages, Household Care, Bioenergy, Pharmaceutical, and Biotechnology), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Enzymes Market size was valued at USD 9155.0 billion in 2020 and it expected to reach USD 16395.2 billion by 2030, register the CAGR of 6% during the forecast period. Enzymes are the molecules that speed up the rate of the chemical reactions that take place within a cell. They are very crucial for life and helps in some of the most important functions in the body, such as digestion and metabolism. Enzymes are beneficial to human beings in many ways. Firstly, cellular reactions occur faster with the presence of an enzyme. Furthermore, enzymes facilitate the breakdown of food particles for energy.  Proteolytic enzymes help to break down and digest protein. They are also found in certain foods and dietary supplements. Some of the best sources of enzymes are papayas and pineapples containing papain and bromelain respectively. Other sources include Ginger, asparagus, yogurt, kefir, among others. Due to the growing health conscious population and countless benefits of enzymes in the daily life.

Market Segmentation:

On the basis of product, the enzymes market is categorized into carbohydrases, proteases, and lipases. On the basis of application, the market is segmented into food & beverages, household care, bio energy, pharmaceutical, and biotechnology. And on the basis of region, the enzymes market is classified into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Changing lifestyles and rising consumer preferences towards packaged and processed foods is majorly driving the enzymes market. Incorporation of enzymes in food products enhances the product life and prolongs the nutritional content. Increasing adoption of auxiliary chemicals for bleaching & deinking and fiber modification has created great opportunities for the market, especially, in the pulp & paper industry. Furthermore, addition of enzymes helps to enhance the effectiveness of detergents and helps in quick removal of stains. In healthcare sector, removal of the blood stains becomes easy with the help of an enzyme-based detergent. Lack of standardized regulations and guidelines leading to complex situation among the manufacturers is hampering the market growth. However, industry expansions, government initiatives to enforce taxes & subsidies on food items accompanied by the increasing trade practices between several economies across the globe will propel the market growth in the forthcoming years. For instance, North America Free Trade Agreement (NAFTA) and Trans-Pacific Partnership (TPP) encourage the international trade among several countries, as per study. Urbanization, increase in disposable income and growing health awareness are also anticipated to attract lucrative opportunities in the near future.

Geographic Analysis:

North America is dominating with a market share of 37.48% in 2018, as per research and is anticipated to continue to grow during the forecast period. New product adoption, presence of major manufacturers such as JBF and Tyson, and supportive government framework are driving the enzymes market in the region. Rising cases of diseases associated with red meat such as pork and beef have forced the farmers to prefer good quality feed. Europe has emerged as the second largest region due to growing research and development activities in the field of biotechnology and renewable energy. In addition to this, growing demand for cattle feed products is expected to contribute in the regional expansion over the next few years. Expansion in industrial sector has led to increase in the demand of enzymes in the Asia Pacific region, especially in China and India. China is dominating in food and beverage, pulp and paper and, textile industry, making it one of the largest consumers for industrial enzymes.

Competitive Scenario:

Some of the major players in the enzymes market are Novozymes, Danisco, Dow, BASF, Advanced Enzymes, Lonza Group, AB Enzymes, Chr. Hansen, Roche, ADM, Enmex, BBI Enzymes Ltd., Procter & Gamble Co., Puratos Group, and Novus International, Inc.

Enzymes Market Report Scope