Enzymes Market Size, Share & Trends Analysis Report By Type (Industrial, Specialty), By Product (Carbohydrase, Proteases), By Source (Microorganisms, Animals), By Region, And Segment Forecasts, 2021 - 2028
New York, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Enzymes Market Size, Share & Trends Analysis Report By Type, By Product, By Source, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06191041/?utm_source=GNW
Enzymes Market Growth & Trends
The global enzymes market size is expected to reach USD 17.88 billion by 2028. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. Rising consumer awareness regarding health has resulted in the growing consumption of functional food products, which is expected to trigger product demand in the coming years.
The demand for carbohydrase is increasing due to their extensive use as an ingredient in soft drinks.Carbohydrase is categorized into amylase, xylanase, cellulose, pectinase, and lactase.
Increasing application of various types of carbohydrase in the pharmaceutical and animal feed sectors is anticipated to drive the market over the forecast period.
The U.S. is expected to continue dominating the North American market over the forecast period due to the high demand for the product from the food and beverage sector and increasing consumer awareness about health. The U.S. market is anticipated to witness notable growth on account of the extensive growth of the nutraceutical and pharmaceutical sectors in the country.
The market for enzymes is highly influenced by dominated supply from key players such as Novozymes AG, DuPont Danisco, and DSM, thus making it oligopolistic.The market has observed a rise in the demand for superior quality specialty enzymes.
As a result, raw material distributors and manufacturers have significant opportunities to provide high-quality and uniform enzymes through a reviewed supply chain.
Enzymes Market Report Highlights
• By type, industrial enzymes captured the largest revenue share of over 55.0% in 2020. In the industrial enzymes segment, the food and beverages segment captured the largest share in 2020 due to the growing consumption of functional food products and surging utilization of enzymes in bakery applications
• In the specialty enzymes type segment, the pharmaceutical segment held the largest revenue share of over 40.0% in 2020 due to the growing inclusion of enzymes for key applications such as diagnosing diseases, promoting wound healing, and killing disease-causing microorganisms
• By source, the microorganisms segment held the largest revenue share of over 80.0% in 2020 owing to the increasing demand for fungi-based enzymes in numerous end-use industries
• North America held the largest revenue share in 2020 due to the strong presence of various end-use companies in the food and beverage, laundry detergent, pharmaceuticals, and personal care and cosmetics industries, along with high scope for research & development activities in developed countries
Read the full report: https://www.reportlinker.com/p06191041/?utm_source=GNW
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