Enzymes Market Growth & Trends
The global enzymes market size is expected to reach USD 20.31 billion by 2030, registering a CAGR of 6.5% during the forecast years, according to a new study by Grand View Research, Inc. The rising consumption of functional food products on account of the increasing awareness regarding an individual’s health is likely to influence the demand during the forecast period positively. Carbohydrase is bifurcated as cellulose, amylase, pectinase, xylanase, and lactase. It is widely used as an ingredient in the formulation of carbonated drinks. The growing usage of different kinds of carbohydrase in the animal feed and pharmaceutical industries is further projected to boost the overall demand in the coming years.
In North America, the U.S. is dominating the regional market on account of the changing consumer preferences and rising demand for organic and nutritional food items from the food & beverage industry. Furthermore, the rising demand from the pharmaceutical and nutraceutical industries is anticipated to fuel the region’s growth during the forecast period. The industry is oligopolistic, with major players dominating it, such as DSM, Novozymes, and DuPont Danisco. There is a significant rise in the demand for high-quality specialty enzymes across the globe. Thus, raw material distributors and manufacturers are witnessing a spike in growth opportunities to offer uniform and superior-quality products via a systematic supply chain network.
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Enzymes Market Report
Enzymes Market Report Highlights
- The food & beverages segment accounted for the largest revenue share in 2021 due to the rising usage of enzymes in bakery and functional food products
- The industrial segment led the market in 2021 owing to the high product demand from the food & beverages, animal feed, detergents, and water treatment industries
- Microorganisms emerged as the dominant source segment in 2021 due to the growing demand for microbial enzymes worldwide
- North America is projected to witness substantial growth from 2022 to 2030 due to the rising R&D activities and the presence of numerous end-use application manufacturers in the region
- Pharmaceuticals emerged as the largest specialty type segment in 2021 on account of the increasing product usage in different applications including wound healing, diagnosing diseases, and killing disease-causing bacteria
