New York
City, 21 January 2019: The Report
Enzymes Market is anticipated
to reach over USD 21,760.9 million by 2026. In 2017, the carbohydrase segment
dominated the global market, in terms of revenue. North America is expected to
be the leading contributor to the global market revenue during the forecast
period.
The diverse applications of enzymes in
industries such as healthcare, food and beverages, pharmaceutical, personal
care, textile, and animal feed among others is expected to support the growth
of this market. Other driving factors include introduction of
genetically-engineered enzymes, and stringent government regulations regarding
use of chemicals. Increasing demand from developing nations, use of enzymes as
alternatives for synthetic chemicals, and technological advancements are
expected provide numerous growth opportunities to the market players during the
forecast period.
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Enzymes are used in a wide range of
applications in medical and healthcare sector. Enzymes are used in
diagnosis of diseases, drug manufacturing, cleaning wounds, assisting in
healing processes, and analytical testing for disease detection among others.
In the food industry enzymes are used in fruit juices, alcohol, baked goods,
and preserved food among others.
The different
applications of enzymes include food and beverages, cosmetics and personal
care, textile, animal feed, paper and pulp, medical & pharmaceutical, and
others. In 2017, the food and beverage accounted for the highest market share.
The increasing need to offer high quality and good tasting processed food has
resulted in the growth of enzymes in this sector. Enzymes are used in baked
goods for regulating the rate of chemical reactions in baking processes. The
rising demand of nutritional diet, and favorable government regulations are
expected to support market growth during the forecast period.
Competitive Landscape and Key Vendors:
North America generated the highest
revenue in the market in 2017, and is expected to lead the global market
throughout the forecast period. The presence of well-established industries
such as healthcare, pharmaceutical, and food & beverages, substantial
initiatives in research and development, and favorable government policies
drive the market growth. Asia-Pacific is expected to grow at the highest CAGR
during the forecast period owing to increasing adoption of enzymes in food and
beverages, and consumer goods.
The well-known
companies profiled in the report include AB Enzymes, BBI Enzymes Ltd., Advanced
Enzyme Technology Ltd., Roche Holding AG, Sanofi S.A., BASF SE, DuPont, Novus
International Inc., Novozymes A/S, Associated British Foods PLC, CHR Hansen
Holding A/S, and Danisco A/S among others. These companies launch new products
and collaborate with other market leaders to innovate and launch new products
to meet the increasing needs and requirements of consumers.
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