Enzymes Market – It’s Opportunities & Challenges
by Mit K. SEOThe enzymes
market was valued at USD 10.0 billion in 2019 and is projected to reach
USD 14.7 billion by 2025, recording a CAGR of 6.7% during the forecast period.
The demand for enzymes is increasing significantly, as it is being used across
various industries and as a substitute for chemicals.
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Market Dynamics:
Drivers:
·
Growing environmental concerns and
increasing demand for biofuel
·
Advancements in R&D activities for
technical enzymes
·
Advancements in enzyme engineering &
green chemistry and the introduction of genetically engineered enzymes
·
Multifunctionalities of enzymes
Restraints:
·
Stringent regulatory framework
Opportunities:
·
Demand for an alternative to synthetic
chemicals
Challenges:
·
Concerns over quality, safety, and
consumer perception toward enzymes
Target
Audience:
·
Enzyme manufacturing companies and government
organizations
·
Service providing company officials
·
Government and research organizations
·
Research officers
·
CEOs and vice presidents
·
Marketing directors
·
Product innovation directors and related key
executives from manufacturing companies and organizations operating in the
market
·
Manufacturing and marketing companies
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Geographical
Prominence:
The enzymes market in Asia Pacific is expected
to witness the highest growth due to the increasing demand for enzymes in
industrial and specialty applications. Technological innovations in machinery,
synthetic fibers, logistics, and globalization of business have made the
textile & leather industry one of the essential sectors in the Asia Pacific
region. Furthermore, the shift of industrial operations from developed regions,
such as North America and Europe to Asia Pacific, has further contributed to
the growth of the enzymes market in this region. The use of enzymes in the
biofuel industry will grow further due to the increase in bioethanol production
and its usage in fueling automobiles and electricity. In addition, the majority
of the population resides in the Asia Pacific region, which is contributing to
the growth of the pharmaceutical industry. Enzyme usage in pharmaceutical
products will further drive the enzymes market in the Asia Pacific region.
Key
Players:
·
BASF
(Germany)
·
DuPont
(US)
·
Associated
British Foods (UK)
·
Novozymes
(Denmark)
·
DSM
(Netherlands)
·
Dyadic
International (US)
·
Advanced
Enzymes Technologies (India)
·
Aumgene
Biosciences (India)
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Created on Apr 3rd 2020 05:58. Viewed 318 times.