Enzymes Industry Overview
The global enzymes market size was valued at USD 10.69 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028.
Growing consumer awareness regarding health has resulted in surging demand for functional food and beverage products, which is further anticipated to trigger the product demand in the coming years. Enzymes are derived from the organs of animals such as plant materials, microorganisms, and calf stomach. With the advent of different technologies including genetic engineering, enzyme manufacturers have an option to produce the necessary quantity of enzymes in selected production hosts such as transgenic plants and microorganisms. Market players are using appropriate microorganisms, such as enzyme-producing yeast, bacteria, and fungi, to produce enzymes on a commercial scale.
Gather more insights about the market drivers, restrains and growth of the Global Enzymes Market
Producers have shifted to eco-friendly technologies for various purposes including the improvement in product properties and product modification. The market for enzymes is likely to expand at a robust growth rate over the forecast period. A technological breakthrough in the industry is considered one of the prime factors supporting market growth.
The growth of enzymes across the world can be attributed to the increasing demand from brewing applications and bakery products. Enzymes are used during the production of fruit juices to increase juice yields and improve the quality of fruits. In wine processing, they are used to maintain the color, clarity, and organoleptic properties of wine. Increasing global population and ongoing urbanization contribute to growth in the food and beverages sector across the world, further contributing to market growth in the near future.
The increasing demand for swine and poultry feed plays a vital role in the growth of the global feed industry. These feeds help in improving the overall health and well-being of swine and poultry animals. The animal feed industry comprises livestock that is raised through the proper use of nutrient-rich fodder. The growth of the animal feed industry across the world is expected to have a positive influence on the dynamics of the market during the forecast period.
Browse through Grand View Research’s Catalysts & Enzymes Industry Research Reports.
- Bioethanol Yeast Market: The global bioethanol yeast market size was valued at USD 11.42 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.04% from 2021 to 2028.
- Catalyst Market: The global catalyst market size was valued at USD 33.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2020 to 2027.
Market Share Insights
- April 2021: BASF SE decided to collaborate with Sandoz GmbH, a subsidiary of Novartis AG, to invest initsKundl/Schaftenau Campus in Austria.
Key Companies profiled:
Some prominent players in the global enzymes market include:
- BASF SE
- DuPont Danisco
- Novus International
- Associated British Foods Plc
- Hansen Holding A/S
- Advanced Enzyme Technologies
- Enzyme Development Corporation
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