The enzymes market was valued at USD 10.0 billion in 2019 and is projected to reach USD 14.7 billion by 2025, recording a CAGR of 6.7% during the forecast period. The demand for enzymes is increasing significantly, as it is being used across various industries and as a substitute for chemicals.
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By type, the enzymes market is segmented into carbohydrase, proteases, lipases, polymerases & nucleases, and other enzymes. The carbohydrases segment is further segmented into amylases, cellulases, and other carbohydrates. This segment is estimated to account for a significant share in the enzymes market, as carbohydrase, such as amylase and cellulase, is used significantly for industrial applications such as food & beverages, textiles, and pulp & paper industries.
By source, the enzymes market is segmented into microorganisms, plants, and animals. The microorganism segment is projected to witness the highest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs. Furthermore, they contain more predictable and controllable enzyme content. In addition, as enzymes obtained from microbial sources can be cultured in large quantities in a short period, microorganisms are the primary source of industrial enzymes.
The enzymes market in Asia Pacific is expected to witness the highest growth due to the increasing demand for enzymes in industrial and specialty applications. Technological innovations in machinery, synthetic fibers, logistics, and globalization of business have made the textile & leather industry one of the essential sectors in the Asia Pacific region. Furthermore, the shift of industrial operations from developed regions, such as North America and Europe to Asia Pacific, has further contributed to the growth of the enzymes market in this region. The use of enzymes in the biofuel industry will grow further due to the increase in bioethanol production and its usage in fueling automobiles and electricity. In addition, the majority of the population resides in the Asia Pacific region, which is contributing to the growth of the pharmaceutical industry. Enzyme usage in pharmaceutical products will further drive the enzymes market in the Asia Pacific region.
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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies (India), Aumgene Biosciences (India), Chr Hansen (Denmark), Amano Enzymes (Japan), Roche Holding (Switzerland), Codexis (US), Sanofi (France), Merck (Germany), Enzyme Supplies (UK), Creative Enzymes (US), Enzyme Solutions (US), Enzymatic Deinking Technologies (US), and Biocatalysts (UK).