Enzymes Market Size to Worth USD 16.69 Billion by 2027 | CAGR of 6.9%: Emergen Research

- Market Size – USD 9.80 billion in 2019, Market Growth - CAGR of 6.9%, Market Trends –Growing demand for high-quality food products

- Increasing demand for the specialty and industrial enzymes from the pharmaceutical and food & beverage sector and growing health awareness among consumers are driving the market demand

VANCOUVER, B.C., Sept. 21, 2020 /PRNewswire/ -- The global Enzymes Market is expected to reach USD 16.69 Billion by 2027, according to a new report by Emergen Research. The growth of the market can be attributed to the increasing demand for specialty and industrial enzymes from the pharmaceutical and food & beverage sectors. Increasing investments in the research and biotechnology sector to produce new medicines and diagnostic solutions is augmenting the industry growth.

The pandemic has affected the enzymes industry and disrupted the supply chain, raw material supplies, and demand for the product in the market.  As people are facing a financial crisis, there are changes in consumer buying behavior, which can adversely affect the industry. The liquidity shortfall and the cash crisis might affect the sales of the product. There is also a slight chance for the increase in the demand for enzymes due to the surge in diagnostics and medical testing methods pertaining to the current pandemic situation.

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Key Highlights From The Report

• The Microorganism segment dominated the market with a share of 60.7% in 2019 due to the low production cost and easy availability.
• The Specialty enzymes segment is expected to register the highest CAGR of 7.0% over the forecast period due to the growing investments in the research & biotechnology sector and the pharmaceutical industry. Extensive research activities, growing demand for medicines, and increasing initiatives for funding are expected to drive the demand of the enzymes in the pharmaceutical industry and research & biotechnology sector.
• Asia-Pacific is expected to register the highest CAGR of 7.4% over the forecast period due to the increasing urban population in countries such as China, Malaysia, India, and Indonesia, growing awareness regarding chronic disorders and the rising disposable income of consumers.
• Key participants include DuPont, Novozymes, DSM, Lonza Group, Amano Enzyme Inc., BASF SE, Advanced Enzyme Technologies, Hansen Holdings A/S, Associated British Foods plc, and Enzyme Development Corporation, among others.

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Emergen Research has segmented the global Enzymes Market on the basis of Source, Product, Application, and Region:

Source Outlook (Revenue, USD Billion; 2017-2027)

• Animals
• Microorganisms
• Plants

Product Outlook (Revenue, USD Billion; 2017-2027)

• Proteases
• Carbohydrase
• Polymerases & Nucleases
• Lipases
• Others

Application Outlook (Revenue, USD Billion; 2017-2027)

• Specialty Enzymes (Research & Biotechnology, Pharmaceuticals, Biocatalysts, Diagnostics)
• Industrial Enzymes (Food & Beverage, Animal Feed, Wastewater, Biofuels, Detergents)

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• MEA
• Saudi Arabia
• UAE
• Rest of MEA

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