Enzymes Market worth $16.9 billion by 2027 – Exclusive Report by MarketsandMarkets – Yahoo Finance

CHICAGO, Sept. 30, 2022 /PRNewswire/ --The Enzymes Market is projected to reach USD 16.9 billion by 2027, growing at a CAGR of 6.8% from 2022 to 2027, according to a new report by MarketsandMarkets.

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The exploitation of new types of enzymes, improvement of enzyme properties, and the production of enzymes are the overall goals of innovations in the enzyme manufacturing industry. The significant progress in genetics and processing technology enables the enzyme industry to offer products with improved properties, often at reduced costs. Genetic engineering opens new paths for enzymes, with improved stability, activity or specificity, and productivity.

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Systematic methods in the field of enzymes and engineering have allowed access to achieve ends, such as screening novel enzymes from natural sources, thus making them safe and secure for manufacturing specialty products, such as pharmaceuticals, as well as for use in biocatalytic processes. According to a study by researchers of University of Notre Dame, USA in January 2022, biocatalytic depolymerization intermediated through enzymes are emerging as a sustainable and efficient alternative for treating plastic treatment recycling it to mitigate the environmental concerns and recapture the components from plastic waste. A new enzyme engineering platform has been developed by researchers from Manchester Institute of Biotechnology (MIB) to enhance the plastic degrading of enzymes through directed evolution. The rapid development in the genetic engineering processes of enzymes and growing research studies on enzyme engineering to use them as sustainable alternatives and safeguard the environment is anticipated to propel the growth of the enzymes market during the forecast period.

Proteases segment is identified to be the fastest growing among the various types of enzymes during the forecast period

Proteases are the enzymes essential for the digestion of protein. They are used to hydrolyze all types of proteins until they become components of the living cells. These enzymes can be obtained from plants, animals, and microorganisms in several conditions, such as high salt concentrations. Proteases have been offered by major key players such as BASF (Germany) and DuPont (US) for industrial applications such as food & beverages, biofuel, textiles & leather, and paper & pulp. The industrial manufacturers are preferring the enzymes over other products as they aid in reducing costs and environmental pollution. For instance, proteases have been used to remove hair from hides, which helps in mitigating the usage of hazardous chemicals. This resulted in mitigating the usage of hazardous chemicals in the leather industry, thereby decreasing the environmental pollution. The usage of enzymes in the pulp & paper industry helps in biofilm removal with less cost involved and lower chemical discharge in the water.

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The manufacturers of cosmetics have also been benefited by the anti-microbial functions of the proteases. In the feed industry proteases are used to decrease the share of amino acids which are indigestible in feed stuffs leading to an increase in the share of digestible amino acids, thereby enhancing the digestibility of the feed in the animals. With the growing demand for meat, the livestock farmers are looking for improved feed products. Therefore, the players in the market are involved in strategic partnerships and research and development to launch new products to increase their market share. For instance, in June 2021, DSM-Novozymes alliance has launched a protease named ProAct 360 for poultry. This product aids in increasing feed efficiency, sustainability, and affordability. Another company, Biocatalysts, in November 2021, has launched a preparation of protease for valorizing the animal protein.

In the enzymes market, microorganism-based enzymes segment is registering the highest growth during the forecast period

Enzymes are biocatalysts that play an important role in metabolic and biochemical reactions. Microorganisms are the primary source of industrial enzymes, as they are cultured in large quantities in a short span of time and genetic manipulations can be done on bacterial cells to enhance enzyme production for usage in various industrial applications such as food & beverages, biofuel, pulp & paper, textiles & leather, and wastewater treatment. The major factor which resulted in manufacturers' preferences for enzymes from microbial sources is their active and stable nature as compared to enzymes from plant and animal. Additionally, microbial enzymes are capable of degrading a wide range of complex substrates, including carbohydrases, into more useful energy sources.

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Asia Pacific region to witness the highest growth rate in the enzymes market during the forecast period

The Asia Pacific region is projected to witness the fastest growth rate of 7.85% during the forecast period. Asia Pacific is the leading region in terms of sugar production and is projected to expand its production share by 2027 (OECD-FAO Agricultural Outlook 20182027). Owing to the large production of sugar, enzymes are often used to hydrolyze starch so as to enhance the sugar production process and improve the overall performance. Furthermore, the use of enzymes in the biofuel industry is expected to grow at a higher rate owing to the increase in bioethanol production and its usage in fueling automobiles and electricity and government support. The enzymes market in China is projected to grow at a higher rate as China has advanced in adapting various new technologies for biotechnology and pharmaceutical-based research & developments. The usage of enzymes in specialty applications has been augmenting in China due to its versatile nature utilized in cell replacements and therapeutic treatments for various medical disorders & diseases. Thus, the expanding production facilities in the region and advancements in adopting technologies for biotech and pharmaceutical industry is boosting the growth of the market in the region.

The key players in this market include Novozymes (Denmark), BASF (Germany), DuPont (US), DSM (Netherlands), Associated British Foods (UK), Merck (Germany), Chr. Hansen (Denmark), Kerry Group (Ireland), Roche Holding (Switzerland), Dyadic International (US), Codexis (US), Sanofi (France), Creative Enzymes (US), Advanced Enzymes Technologies (India), and Biocatalysts (UK).

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Enzymes Market worth $16.9 billion by 2027 - Exclusive Report by MarketsandMarkets - Yahoo Finance