According to a new market research report titled, ‘Enzymes Market by Product Type (Industrial Enzymes, Specialty Enzymes), Source (Microorganism, Plant, Animal), Type (Carbohydrases, Protease, Lipase), Form, Application (Food & Beverages, Personal & Household Care, Animal Feed) — Forecast to 2029,’ in terms of value, the enzymes market is projected to reach $18.38 billion by 2029, at a CAGR of 6.2% during the forecast period 2022–2029.
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Enzymes act as a catalyst that regulates the rate at which chemical reactions occur in living organisms without getting altered in the process. The enzymes industry has evolved in the last decade with the technological revolution globally. Besides economic factors, the growth of this market is also driven by social and environmental needs. Manufacturing enzymes, enzyme-based products, and solutions require specialized knowledge of enzymes as well as demand from end-use industries.
According to the Association of Manufacturers and Formulators of Enzyme Products (AMFEP), enzymes are used to produce and improve nearly 400 everyday consumer and commercial products. Enzymes are used in various applications such as food & beverage, personal & household care, biofuel, textiles, pharmaceutical industries, animal feed and others. Thus, the growing applications of enzymes in different end-use industries, such as food and pharmaceuticals, are expected to drive the demand for this market.
The Impact of COVID-19 on the Enzymes Market
The COVID-19 pandemic adversely affected many economies globally. The complete lockdowns and quarantines to curb the spread of infection impacted many industries, including food & beverages, animal feed, home & personal care, dietary supplements, leather, and textile.
COVID-19 resulted in the movement restrictions of workers, a decline in consumer demand, and the closure of production facilities. Various industries suffered severe labor shortages due to repeated lockdowns that affected production and trade movements. Furthermore, supply chains were disrupted, resulting in production limitations, complications in sourcing raw materials, and higher delivery costs, negatively impacting the enzymes market. In addition, several governments announced a temporary ban on foreign travel. These factors affected the sales of enzymes. For instance, the COVID-19 crisis has radically changed the global context for biofuels; the production contracted by 20 billion liters (13%) in 2020, returning to 2017 output levels (Source: BAC-TO-FUEL). The textile industry was significantly impacted; numerous textile businesses were temporarily halted or operated with minimal staff due to enforced lockdowns and social distancing norms by regulatory bodies, reducing the demand for enzymes from the textile industry.
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However, COVID-19 has had a positive impact on some industries. Consumers’ increased health awareness increased the demand and use of enzymes in the home care products, food, animal feeds, and pharmaceutical industries. Enzymes work as excellent cleaning agents, reduce dependency on fossil fuels, and reduce water, energy, and other chemical inputs in various industrial processes.
The COVID-19 pandemic positively impacted the demand for home care products, such as surface disinfectants & laundry care, nutraceuticals & dietary supplements, and pharmaceuticals in 2020 and 2021. The sale of these products increased by 96% during the COVID-19 pandemic. According to the International Association for Soaps, Detergents and Maintenance Products (A.I.S.E.), in 2020, the European household care industry registered a growth of 4.7% from 2019.
Moreover, the COVID-19 pandemic has underlined the necessity for consumer goods and nutritious foods to be balanced with enzymes and other energy sources. As a result, the demand for foods & beverages fortified with nutritional enzymes and other healthy components is rising globally. The rising awareness about the health benefits of enzyme-infused products has increased their application in beverages and bakery, confectionery, and dairy products. For instance, according to the American Bakery Association, sales in the U.S. bakery aisle increased by 62.3% over a week in March 2020.
Therefore, the strong demand for pharmaceuticals, food & beverages, and home care products due to the COVID-19 pandemic is expected to support the growth of the enzymes market. Although the market's growth rate in 2020 was slightly lower than in 2019, the COVID-19 pandemic positively impacted the enzymes market.
The enzymes market is segmented based on product type (industrial enzymes and specialty enzymes), source (microorganism, animal, and plant), type (carbohydrases, protease, lipase, polymerases & nucleases, and other enzymes), form (liquid and solid), and application (food & beverages, personal & household care, biofuel, animal feed, pharmaceuticals & diagnostics, textiles, and other applications). The study also evaluates industry competitors and analyzes the regional and country levels.
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Based on product type, in 2022, the industrial enzymes segment is expected to account for the largest share of the enzymes market. The large market share of this segment is mainly attributed to the rising environmental concerns and growing demand for biofuels, the growing demand from various industries such as food & beverage, animal feed, personal & household care, and textiles, and the increase in R&D activities and investments in the enzymes sector. However, the specialty enzymes segment is projected to register the highest CAGR during the forecast period of 2022–2029. The growth of this segment is mainly attributed to the rising use of specialty enzymes in the pharmaceutical sector to produce medicines for treating cardiovascular diseases, cancer, age-related pain, asthma, hay fever, and lysosomal storage disorders. The increasing prevalence of fatal diseases and the growing geriatric population, mostly in the U.S., Japan, and Europe, are expected to drive the demand for specialty enzymes.
Based on source, in 2022, the microorganism segment is expected to account for the largest share of the enzymes market. The large market share of this segment is mainly attributed to the growing demand for microbial enzymes for treating pancreatic cancer, exocrine pancreatic insufficiency, and pancreatitis. Furthermore, microbial enzymes offer higher stability than plant- and animal-sourced enzymes, which contributes to their increased adoption for industrial applications. However, the plant segment is projected to register the fastest growth rate during the forecast period of 2022–2029. The growth of this segment is attributed to the easy availability and convenience of plant sources, the growing demand for proteases such as papain, ficin, and bromelain, the increasing usage of plant-based enzymes in various industries, including food & beverages, personal & household care, and pharmaceuticals, and the benefits offered by plant-based enzymes in digestive health and their fat absorption & antibacterial properties.
Based on type, in 2022, the carbohydrases segment is expected to account for the largest share of the enzymes market. The large market share of this segment is mainly attributed to their high thermal stability and the increasing application in the food & beverage sector, such as in the production of fructose syrup, hydrolysis of sucrose, and reducing lactose in milk and the biofuel industry due to its cost-effectiveness. However, the protease segment is projected to register the highest CAGR during the forecast period of 2022–2029.
Based on form, in 2022, the liquid segment is expected to account for the larger share of the enzymes market. The large market share of this segment is attributed to the increasing demand for liquid enzymes in household care and food & feed industries and the benefits offered by this form, such as high-performance stability in food processing, ease of use, and fewer quantity requirements. However, the solid segment is projected to register the faster growth rate during the forecast period of 2022–2029. The growth of this segment is attributed to the higher demand for solid enzymes due to their benefits, such as stability & high shelf life and ease of handling, transportation, and storage.
Based on application, in 2022, the food & beverages segment is expected to account for the largest share of the enzymes market. The large market share of this segment is mainly attributed to the increasing health consciousness among consumers driving the demand for clean & natural food products, the high demand for processed food products, changing dietary habits, and the increased application of enzymes in beverages. However, the pharmaceuticals & diagnostics segment is projected to register the highest CAGR during the forecast period of 2022–2029. The growth of this segment is driven by the increasing demand for enzymes in the pharmaceutical industry to produce various drugs for cardiovascular diseases, cancer, and pain & inflammation management.
Based on geography, in 2022, North America is expected to for the largest share of the enzymes market. North America’s major market share is mainly attributed to the well-established industries in the region. Furthermore, the rising technological advancements, increasing enzyme applications, and the high demand from the food & beverage sector contribute to the growth of this regional market. However, Asia-Pacific is slated to register the highest CAGR during the forecast period. The rapid growth of this regional market is attributed to the shift of manufacturing from North America & Europe to the Asia-Pacific region and the rise in the demand for food enzymes from food manufacturers. Furthermore, the increasing technological advancements in the food & beverages and pharmaceutical industries, rapid industrialization & economic growth, and wide availability of raw materials are the key factors propelling the growth of this market.
Some of the key players operating in the enzymes market include AB Enzymes GmbH (Germany), Advanced Enzyme Technologies Limited (India), Amano Enzyme Inc. (Japan), Aum Enzymes (India), BASF SE (Germany), Biocatalysts Limited (A Part of Brain Biotech AG) (U.K.), Chr. Hansen Holding A/S (Denmark), Codexis, Inc. (U.S.), Enzyme Development Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), International Flavors & Fragrances Inc. (IFF) (U.S.), Kerry Group plc (Ireland), Koninklijke DSM N.V. (Netherlands), Merck KGaA (Germany), Novozymes A/S (Denmark), Novus International, Inc. (A Part of Mitsui & Co., Ltd.) (U.S.), and Sanofi (France).
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Scope of the Report:
Enzymes Market, by Product Type
• Industrial Enzymes
• Specialty Enzymes
Enzymes Market, by Source
• Microorganism
o Fungi
o Bacteria
o Yeast
• Animal
• Plant
Enzymes Market, by Type
• Carbohydrases
o Amylase
o Lactase
o Other Carbohydrases Enzymes
• Protease
• Lipase
• Polymerases & Nucleases
• Other Enzymes
Enzymes Market, by Form
• Liquid
• Solid
Enzymes Market, by Application
• Food & Beverages
o Dairy
o Bakery
o Beverages
o Meat, Fish, and Egg Processing
o Other Food & Beverages Applications
• Personal & Household Care
• Biofuel
• Animal Feed
o Poultry Feed
o Ruminant Feed
o Swine Feed
o Aqua Feed
o Other Animal Feed Applications
• Pharmaceuticals & Diagnostics
• Textiles
• Other Applications
Enzymes Market, by Geography
• North America
o U.S.
o Canada
• Europe
o France
o Germany
o Italy
o U.K.
o Spain
o Netherlands
o Rest of Europe
• Asia-Pacific (APAC)
o China
o India
o Japan
o Australia
o South Korea
o Rest of APAC (RoAPAC)
• Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America (RoLATAM)
• Middle East & Africa
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