Enzymes are biocatalysts, which accelerate various biochemical reactions. In the current scenario, enzymes serve as useful biocatalysts for several industrial processes and chemical reactions Moreover, they play an important role in chemical engineering, food technology, and agriculture. Enzymes have gained a substantial market share in the recent years, due to high adoption of enzymes based pharmaceuticals required for the treatment of several chronic disorders and digestive diseases
Carbohydrates type is estimated to be the largest share, among all the enzyme types in the global industrial enzyme market, whereas the lipases enzyme type is expected to grow at a fast rate during the forecast period. Amylase is the most common type of carbohydrates, which finds applications in various industrial processes, such as food, fermentation, etc. Carbohydrates are those enzymes which are widely used for the conversion of carbohydrates into simple sugar, which makes it extensively useful for application in the food industry.
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The market is dominated by key players such as BASF SE (Germany), E.I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (Netherlands), and Novozymes A/S (Denmark). Other players in this segment include Dyadic International Inc. (U.S.), Advanced Enzyme Technologies Ltd (India), Adisseo (China), Chr. Hansen Holding A/S (Denmark), and Amano Enzyme Inc. (Japan). Global enzymes market was valued at $7,072 million in 2018, and is projected to reach $10,619 million in 2025, registering a CAGR of 5.8% from 2018 to 2025.
The market for industrial enzymes is primarily driven by the increasing demand for food and beverages owing to changing lifestyles and increase in disposable income of a wide population. Government across the world are encouraging the usage of biofuels by giving the incentives for biofuel production as a substitution to fossil fuels and conventional source of energy which is stimulating the industrial enzymes market. Enzymes derived from plant resources are expected grow at a CAGR of 6.4% during the forecast period. Enzymes derived from plant resources are expected grow at a CAGR of 6.4% during the forecast period. Oxidoreductase enzymes are the second largest revenue generators. Transferases possesses highest potential in global enzymes market, and is expected to grow at a high CAGR during analysis period.
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Based on application, the global enzyme market is segmented into food & beverages, household care, bioenergy, pharmaceutical and biotechnology, feed, and other such as agriculture, paper & pulp processing, and leather processing.
Enzymes boost the performance of detergents by improving the stain removal properties, garment care, and wash efficiency. Enzymes are widely used in pharmaceutical industry for drug formulation and in food industry for food processing and nutraceuticals.
Some prominent key players in the global Enzymes market are expected to benefit from the emerging market. Prominent players in the global Industrial Enzymes market are Chr. Hansen, Novozymes A/S, Codex is Inc., Novus International Inc., and Associated British Foods (ABF) plc. AB Enzymes GmbH, E.I.du Pont de Nemours and Company, Advanced Enzyme Technologies Ltd., Koninklijke DSM N.V. among others.
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