Enzymes Market to Witness Unprecedented Growth in Coming Years

In the recent years, bioethanol has emerged as important source of energy due to exhaustion of existing energy supplies around the world. Moreover, the growing environmental awareness among the consumers has led to the shift towards the use of the enzymes in bioethanol production and mitigate the use of chemical catalysts.  Enzymes are used in various other industrial applications such as food & beverage processing, detergents, textiles & leather, paper & pulp, wastewater treatment, feed, starch processing, cosmetics & personal care products, and oilfield & fine chemicals. The major types of enzymes used in the industrial and specialty applications are carbohydrases (amylases, cellulases, other carbohydrases such as pectinase, lactase, mannanase, and pullulanase), proteases, lipases, and other types such as isomerases, transferases, betaglucanases, arabinoxylanases, amyloglucosidase, and pullulanase. Enzymes are also used in various specialty applications such as pharmaceuticals, research & biotechnology, diagnostics, and biocatalysts. Enzymes market is projected to reach USD 16.9 billion by 2027 growing at a CAGR of 6.8% from 2022 to 2027.

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The enzymes market is anticipated to witness potential opportunities in the future by its specialty applications in different industries like pharmaceuticals. The pharmaceutical industry dominated the specialty enzyme by application segment in 2022 with USD 2.4 Billion and is expected to grow USD 3.2 Billion by 2027.  The players in the market are involving in expansion of production facilities and agreement to increase their penetration in the market. For instance, in June 2022, Merck KGaA has expanded its production facility of Pharma ingredients like High Potent Active Pharmaceutical Ingredients (HPAPI) production capacity in Wisconsin, US.  In September 2021, Codexis has extended the agreement with Merck to supply a proprietary enzyme used in the manufacturing process for sitagliptin, the active pharmaceutical ingredient

Based on product type, the market for enzymes is segmented as industrial enzymes and specialty enzymes. The industrial enzymes product type dominated the enzymes market in 2021. With advancements in technology, the application of enzymes expanded in various industrial applications. The ability of industrial enzymes to catalyze the chemical reactions and the increase in the number of applications have led to the growth of the enzymes market. Specialty enzyme’s demand in the research & biotechnology end-market would benefit from the reduction in DNA sequencing costs and the increase of new sequencing techniques.

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The growth potential for enzymes market has been projected to be high due to the increasing product launches, collaborations, partnerships, and acquisitions by the players in the industry. For instance, in 2022, Kerry group has acquired c-LEcta which specializes in precision fermentation, biotransformation and optimized bioprocessing in order to create high-value enzymes and ingredients. The objective of this acquisition is to expand its expertise, technology portfolio and manufacturing capabilities of enzymes. In December 2021, Codexis has launched a product named “Codex HiTemp Reverse Transcriptase”. This enzyme is specifically engineered and optimized for enhanced thermostability and robustness to address known challenges in handling clinical samples. In February 2021, Merck KGaA partnered with BioNTech to supply urgently needed lipids and to increase the amount of lipid delivery. In 2020, Merck KGaA collaborated with Mammoth Biosciences (US) to scale-up and commercial production of SARS CoV-2 test.

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Created on Feb 15th 2023 06:02. Viewed 153 times.

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