IMARC Group, a leading market research company, has recently releases report titled “Enzymes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global enzymes market share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the enzymes market?
The global enzymes market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.06% during 2023-2028.
What are enzymes?
Enzymes are specialized proteins that act as biological catalysts in living organisms. They play a crucial role in facilitating and speeding up chemical reactions within cells, which makes them essential for various physiological processes. They work by lowering the activation energy required for a specific chemical reaction to occur. Enzymes make it easier for a response to appear, which enables biochemical processes to happen efficiently and at a faster rate. They are highly specific and typically catalyze only one type of reaction. They interact with specific molecules like substrates, which transforms them into products. Enzymes are involved in various cellular processes, including metabolism, digestion, deoxyribonucleic acid (DNA) replication, and protein synthesis. Their activities are influenced by factors, such as pH, temperature, and the concentration of substrates and products.
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What are the growth prospects and trends in the enzymes industry?
Enzymes are used in the food and beverage (FB) industry, where they are used for various purposes, such as baking, cheese, and fruit juices to enhance flavor development and texture and help break down starches into simpler sugars, which aids in dough fermentation and improve the texture of bread. Along with this, the increasing inclination towards nutrient rich and high quality food products and beverages represent one of the primary factors strengthening the market growth around the world. Moreover, there is a rise in the adoption of enzymes in the biofuel industry, particularly in the conversion of biomass into biofuels.
Enzymes like cellulases and hemicellulases assist in breaking down complex plant materials into simpler sugars that can be fermented to produce bioethanol. Enzymes increase the efficiency of this process, which reduces the need for harsh chemical treatments and makes biofuel production more sustainable. Along with this, the growing preference for renewable energy sources like biofuels is influencing the market positively. In addition, the increasing employment of enzymes in the textile industry for processes, such as bio-polishing and stone-washing is favoring the growth of the market.
Cellulase enzymes are used in bio-polishing to remove protruding fibers and create a smoother fabric surface. In stone-washing, proteases and cellulases are utilized to achieve a worn-out look on denim garments by breaking down fibers and removing dye particles. Apart from this, enzymes find application in the production of laundry detergents to enhance the cleaning efficiency of detergents, which allows lower washing temperatures and reduces the need for excessive water and energy consumption. Furthermore, the increasing usage of enzymes in the paper and pulp industry to improve bleaching properties is propelling the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Protease
- Carbohydrase
- Lipase
- Polymerase and Nuclease
- Others
Breakup by Source:
- Microorganisms
- Plants
- Animals
Market Breakup by Reaction Type:
- Hydrolase
- Oxidoreductase
- Transferase
- Lyase
- Others
Breakup by Application:
- Food and Beverages
- Household Care
- Bioenergy
- Pharmaceutical and Biotechnology
- Feed
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Advanced Enzyme Technologies Limited, Amano Enzyme Inc., Associated British Foods plc, Aumgene Biosciences, BASF SE, Chr. Hansen Holding A/S, Codexis Inc., DuPont de Nemours Inc., Koninklijke DSM N.V., Novozymes A/S, Novus International Inc. (Mitsui Co. Ltd.) and Thermo Fisher Scientific Inc.
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