Enzymes Market Outlook 2031
- The global enzymes market was valued over US$ 7.7 Bn in 2021
- It is estimated to expand at a CAGR of 7.6% from 2022 to 2031
- The global enzymes market is expected to cross US$ 16.3 Bn by the end of 2031
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Biofuel Enzymes Beneficial for Production of Ethanol by Fermentation
Versatile applications of enzymes in food & beverage processing, personal care products, and pharmaceuticals are contributing to market growth. Enzymes, though naturally present in our body, are now being chemically and organically synthesized to serve as catalysts to accelerate chemical reactions. Such findings are fueling innovations in biofuel enzymes.
Ingredient manufacturers in the enzymes market are competing to develop biofuel enzymes that are being used in the production of ethanol by fermentation. These novel enzymes are replacing conventional alpha-amylase due to reduced viscosity property. Companies are planning to start customer trials using biofuel enzymes to capitalize on incremental opportunities in the overall bioenergy sector. They are making use of industry knowledge, technical expertise, and customer laboratory services to improve biodiesel stability using enzymes.
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Limited Number of Food Enzyme-producing Industries Impeding Market Growth
The global enzymes market is estimated to mature at a favorable CAGR throughout the assessment tenure. However, it has been found that there are only a limited number of enzyme-producing industries in the market. Hence, companies should take advantage of this opportunity within a challenge to facilitate capacity expansions and broaden their product portfolio.
The ever-evolving food and dairy industry is catalyzing the demand for food enzymes. The need for these enzymes is predicted to rise in the future due to the requirement for high-value nutritional dairy products that will play an instrumental role in overcoming the growing issue of malnutrition.
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Rise in Demand for Food & Dairy Products to Drive Global Enzymes Market
- The global enzymes market is estimated to expand, owing to the high demand for enzymes in industries such as food & dairy products, personal & household care products, animal feed, textile, and pharmaceutical. Enzymes are produced by the fermentation process. Nutrients are used in the production of enzymes. Intracellular or extracellular expressions are functionalities of enzymes.
- Increase in demand for enzymes can be primarily ascribed to their ability to accelerate reactions, which help in obtaining valuable final products. Furthermore, enzymes are responsible for the breakdown of starch and other carbohydrates, proteins, and fats. The chemical reaction controlling capacity of enzymes is driving their demand in various applications.
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