The new report by Expert Market Research titled, 'Global Enzymes Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025′, gives an in-depth analysis of the global enzymes market, assessing the market based on its segments like types, sources, industry types, reaction types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): USD 10 billion
- Forecast CAGR (2020-2025): 7.5%
The growing demand for enzymes in various industries such as food and beverage, animal feed, home cleaning, and others are increasing the production capacity for the industry. Functional foods are foods that provide additional health benefits to essential food and nutrition. They are becoming increasingly popular and rely on enzymes for production. The growth of the functional foods market is significantly boosting the demand for enzymes on a global scale. The increasing R&D investments in the global enzymes industry toward the formulation of new enzymes via protein engineering is expected to provide expansion opportunities to the market in the future.
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Industry Definition and Major Segments
Enzymes are a naturally-occurring type of protein that acts as a biological catalyst for chemical reactions occurring inside living organisms. A catalyst is a substance that accelerates chemical reactions. Enzymes are responsible for catalysing several chemical reactions that have industrial and medical applications.
The types of enzymes in the market include:
Based on source, the market is segmented as:
The market can also be classified on the basis of industry type as:
The reaction types of enzymes are:
Enzymes find their applications in:
- Cleaning Product
- Food and Beverage
- Biofuel Production
- Animal Feed
The major regions of the global enzymes market are:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
In May 2020, GlaxoSmithKline (LON: GSK) partnered with Mammoth Biosciences to use their existing protein engineering technology to develop enzymes that can be used to detect the presence of the COVID-19 virus. Several other enzyme-based tests have also been developed by various firms in the enzyme industry and, thus, the global coronavirus pandemic is expected to lead to a surge in the growth of the enzymes industry. On August 6th, 2020, researchers at the Brain Mind Institute of the Ecole Polytechnique Federale de Lausanne claim to have identified an enzyme that has the potential to cure Huntington's Disease. Hence, the endless potential of enzymes in the medicine industry is expected to promote the growth of the global market during the forecast period of 2020-2025.
Key Market Players
The major players in the market are Novozymes A/S (CPH: NZYM-B), DSM Nutritional Products, LLC (AMS: DSM), Amano Enzymes Corporation, Advanced Enzymes USA, AB Enzymes GmbH, MetGen Oy, DuPont Co. (Genencer), Koninklijke DSM N.V. (AMS: DSM), Aum Enzymes, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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