Major players in the specialty enzymes market are BASF SE, Novozymes A/S, Roche Holding AG, Codexis Inc. , Specialty Enzymes & Probiotics, Advanced Enzyme Technologies Ltd. , BBI Solutions, E. I. du Pont de Nemours and Company, Sanofi, and Amano Enzyme, Inc.
New York, July 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Specialty Enzymes Global Market Report 2020-30: Covid 19 Implications and Growth" - https://www.reportlinker.com/p05932648/?utm_source=GNW
The global specialty enzymes market is expected to grow from $3.79 billion in 2019 to $4.49 billion in 2020 at a growth rate of 18.46%. The growth is mainly due to the COVID-19 that has urged individuals to focus on health and strengthening the immune system and thus, increasing the demand for foods, supplements and drinks containing probiotics. The market is then expected to reach $5.35 billion in 2023 at a CAGR of 6.05%.
The specialty enzymes market consists of sales of specialty enzymes which are proteins acting as biocatalysts to accelerate the rate of reactions. The revenue generated by the market involves the sales of specialty enzymes that include carbohydrases, proteases, lipases, among others in liquid or dry form, which are produced either from microorganisms, plants or animals. Specialty enzymes are primarily used in pharmaceutical, diagnostics, animal nutrition, food & beverage, research, and biotechnology.
North America was the largest region in the specialty enzymes market and Europe was the second largest region in 2019.
In 2018, BRAIN AG, a Germany-based industrial biotechnology company that identifies and develops innovative solutions and products for use in chemistry, cosmetics and food industries, acquired a majority stake in Biocatalysts Ltd for an undisclosed amount. The acquisition will strengthen BRAIN’s BioIndustrial segment and widens commercial opportunities with Biocatalyst’s portfolio and technology including access to BRAIN’s unique BioArchive and Biocatalyst’s MetXtra metagenomic library. Biocatalysts Ltd. is a UK-based manufacturer of specialty enzymes that focuses on the use of technology to develop novel specialty enzymes in a cost-effective manner.
The specialty enzymes market covered in this report is segmented by type into carbohydrases; proteases; lipases; polymerases & nucleases; oxidase & hydratases; others. It is also segmented by source into microorganisms; animals; plants and by application into pharmaceutical; diagnostics; research & biotechnology; food & beverage; animal nutrition; others.
Ethical and societal issues are factors that will slow down the market growth during the forecast period. The clashing public opinions on these issues will determine the acceptability of new industrial biotechnology products. In 2019, a published article stated that there are five societal and ethical themes concerning industrial biotechnology namely sustainability, naturalness, risk management, innovation trajectories and economic justice. Many critics state the factor affecting economic justice is that the applications of industrial biotechnology lead to the concentration of knowledge and power in the hands of a few companies. Thus, societal and ethical issues are expected to impact market growth.
Technological advancements show opportunities for the production of enzyme products in a more efficient way. Challenges such as complexity in maintaining pH, operational high temperature of specialty enzymes and significant cost of maintenance of specialty enzyme products paves way for technological advancements. In 2019, an article published in Plant Biotechnology Journal stated the commercial launch of leaf pectinase powder developed using a new platform technology namely leaf?production platform. The leaf pectinase powder produced using leaf-production platform showed promising results like functionality in broad pH/temperature ranges as crude leaf extracts, leaf pectinase powder was stored up to 16 months at ambient temperature without loss of enzyme activity, unlike commercial enzyme products. This leaf-production platform is a novel technology for enzyme production with the elimination of fermentation, purification, concentration, formulation and cold chain processes.
Growing investment in biotechnology research & development is expected to boost market growth during the forecast period. Specialty enzymes are widely used in biotech research and development, particularly in molecular biology. The increasing investment and an increase in the number of companies conducting biotechnology research & development will in turn increase the number of biotech researches. In 2018, the annual investment in UK biotechnology research & development was £2.2 billion which was up from the previous year (£1.2 billion) and there is a significant increase in the number of active companies involved in biotech research & development, which reached to 3,456 companies in 2018. There were 127 newer companies incorporated in just the first two months of 2019, which represents 3 new companies each new working day. Thus, the growing number of biotech research companies following increasing investments in biotech R&D is expected to boost the specialty enzymes market.
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