The market for enzymes worldwide has grown during the analysis period due to a variety of causes. Enzymes have several advantages, and the biotech, pharmaceutical, food and beverage, and biofuel industries benefit from them. The pharmaceutical industry's increased need for enzymes to synthesize intermediates to manufacture active pharmaceutical ingredients (API) for potent medicines is predicted to fuel the market's expansion. The ability of an enzyme to break down complex molecules into simpler ones (such as starch into glucose) in the food and beverage industry, the elimination of fat and oil stains in the detergent industry, the production of bioethanol for use in biofuels, and improved bleaching properties in the paper and pulp industries are all expected to drive up demand for enzymes in the upcoming years. Additionally, an increase in the prevalence of chronic illnesses, including digestive problems and inflammation, and a rise in the demand for renewable energy sources like biofuels are supporting the market's expansion.
COVID-19 IMPACT
The COVID-19 epidemic had a combined impact on the enzymes industry. However, the lockdowns during the epidemic created various issues for those in the business, including logistical challenges with exporting finished goods, messed up supply chains, and hiring personnel from quarantines. Lockdowns implemented by the government during the coronavirus pandemic briefly hampered the operations of various industries, including the enzyme industry. On the other side, the decline in the enzymes industry has resulted in a rise in the usage of generic medications, particularly herbal immune boosters. As a result, COVID-19 had an overall effect on the expansion of the enzymes market.
DRIVING FACTORS
Chronic Diseases Are More Common, Driving Market Growth
During the projection period, it is predicted that the increasing use of enzyme-based products in therapies for diseases such as cardiovascular disorders, cancer, and lysosomal disorders will fuel product demand. The use of biocatalysts in the production of pharmaceuticals is gradually coming to the attention of pharmaceutical manufacturers. One of the key drivers of the market's expansion during the analysis period was the increasing incidence rate of cancer in the world. For instance, according to the American Cancer Society, there were 606,520 cancer deaths and 1.8 million newly diagnosed cancer cases in the United States in 2020.
RESTRAINING FACTORS
High Prices For Raw Materials And Finished Goods Combined With An Absence Of Standardised Regulatory Scenarios Could Stifle Market Expansion
The lack of established regulatory norms and harmonization will constrain the growth of the enzyme market. For instance, the regional product makers may experience difficulties as a result of European regulatory standards governing the clearance of feed additives. Furthermore, one of the major problems hindering industrial expansion is the high cost of goods.
SEGMENTATION
By Product Type
Based on product type, the enzymes market is segmented into industrial enzymes and specialty enzymes. The specialty enzymes category dominated the market in 2021. Specialty enzymes are enzymes utilized in several diagnostic processes, including DNA modification and sequencing. Industrial enzymes are used in various fields, such as pharmaceuticals, chemical production, biofuels, food and beverage, and consumer goods.
By Source
By source, the market is segmented into microorganisms, plants and animals. The microorganism category dominated the market in 2021. The increasing use of goods based on microorganisms in various applications is responsible for the segment's largest share. Additionally, microbial products have received increasing attention since they are more active and stable than goods derived from animals or plants.
By Type
By type, the market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and other enzymes. The carbohydrases category dominated the market in 2021. The primary function of carbohydrates is as a catalyst in transforming fructose and glucose-based sugar syrup, which is then employed in the food, beverage, and pharmaceutical industries. The demand for enzymes has increased due to their use in several sectors.
By Reaction Type
By reaction type, the market is segmented into hydrolases, oxidoreductases, transferases, lyase and others. The hydrolase category dominated the market in 2021 due to the numerous uses of hydrolase in a variety of industrial sectors, including dairy, brewing, starch, paper, biofuel, detergents, and food processing. Industrial enzymes, such as cellulases, amylases, pectinases, lipases, phytases, and proteases, carry out hydrolysis.
By Application
By application, the market is segmented into industrial enzymes (food & beverage, bioethanol, textiles & leather, detergents, paper & pulp, wastewater treatment, feed, other applications) and specialty enzymes (pharmaceuticals, research & biotechnology, diagnostics, biocatalysts). The industrial enzymes category dominated the market in 2021 because there is a huge need for enzymes in sectors including food and dairy, personal care, household products, animal feed, textiles, and pharmaceuticals. The fermentation process generates enzymes. To make enzymes, nutrients are required. Enzyme functions include intracellular and extracellular expressions. The main reason enzyme demand has increased is enzymes' capacity to speed up processes and produce more useful byproducts.
REGIONAL INSIGHTS
North America is projected to hold the largest share of the enzymes market over the forecast period. The region is expected to maintain its lead throughout the forecast period. North America is a leading regional market due to the dominance of many end-use industries, such as food and beverage, laundry detergent, pharmaceuticals, personal care, and cosmetics, as well as the abundance of R&D opportunities in the region's major countries.
On the other hand, the Europe enzymes market is anticipated to grow significantly over the forecast period as one of the leading manufacturers of pharmaceutical, medicinal, and cosmetic products. As a result, there is an increase in demand for enzymes. The region's growing population and rapidly developing textile industry are expected to drive demand for enzymes in textile processing.
LIST OF KEY COMPANIES PROFILED:
- AB ENZYMES GmbH
- Advanced Enzyme Technologies Ltd
- AMANO ENZYME INC.
- BASF SE, Codexis, Inc.
- DUPONT DE NEMOURS, INC.
- F. HOFFMANN-LA ROCHE LTD.
- Koninklijke DSM N.V.
- NOVOZYMES A/S
- THERMO FISHER SCIENTIFIC INC. (AFFYMETRIX, INC.)
KEY INDUSTRY DEVELOPMENTS:
- April 2022: To enable the entirely enzymatic synthesis of DNA, Molecular Assemblies and Codexis worked together to develop a high-performing enzyme.
- February 2022: Kerry Group bought c-LEcta to broaden its knowledge base, industrial prowess, and technology portfolio.
| Attributes | Details |
| Study Period | 2016-2030 |
| Base Year | 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2023-2030 |
| Historical Period | 2016-2020 |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Product Type, By Source, By Type, By Reaction Type, By Application and By Geography |
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| By Reaction Type |
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