The global Enzymes market is forecasted to reach USD 11.03 Billion by 2026, according to a new report by Reports and Data. Enzyme market has gathered special attention in the past few years owing to its vast applications. They are utilized in food and animal feed, detergents and textiles, manufacturing industries, pharmaceuticals and biotechnology R&D, leathers and others. Applications of enzymes in the manufacturing process result in cost reduction due to less energy consumption, and better substrate activity.
The growth of the enzyme market is mainly due to the high demand for effective enzymes based pharmaceuticals. Other driving forces include an increase in demand for renewable energy sources such as biofuels, wide applications of enzymes in various industries, and a rise in prevalence of various chronic diseases such as inflammation & digestive diseases.
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Key participants include AB Enzymes GmbH, Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., BASF SE (BASF Corporation), Codexis, Inc., DowDuPont Inc., F. Hoffmann-La Roche Ltd., Koninklijke DSM N.V., Novozymes A/S, and Thermo Fisher Scientific Inc. (Affymetrix, Inc.) among others.
Further key findings from the report suggest
- With processed food gaining popularity, demand for enzymes is increasing. It adds longevity to food’s shelf life.
- Food and Beverages hold a market share of 24% in the year 2018 and is forecasted to hold a market share of 25% in the year 2026 with an annual growth rate of 6.0%
- Enzymes find its application in consumer products such as detergents. Even a molecule of the enzyme in the detergent can boost its ability to act on substrate molecules such as soil.
- Household occupy a market share of 22% in the year 2018 and is forecasted to hold a market share of 23% in the year 2026 with the highest annual growth rate of 6.1%
- On the basis of source, the market is segmented into microorganisms, plants, and animals. Microorganisms hold the major share as they are easily available and have low production costs.
- Microorganisms have a market share of 37% in the year 2018 and are forecasted to hold a market share of 38% in the year 2026 with 5.8% annual growth rate throughout the forecast period.
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For the purpose of this report, Reports and Data have segmented global Enzymes market on the basis of Type, Source, Reaction Type, Formulation, Application, and Region:
Type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Polymerases and Nucleases
- Other Types
Source Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
Reaction Type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Other Enzymes
Formulation Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Lyophilized powder
- Other (gel and granular forms)
Application Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Food & Beverage
- Household Care
- Pharmaceuticals and biotechnology
Regional Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- North America
- Asia Pacific
- South-east Asia
- Latin America
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Enzymes
- To provide insights about factors affecting the market growth. To analyze the Enzymes market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
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