size
was valued at USD 12.1 billion in 2022 and is expected to grow at a
CAGR of 6.8% from 2022 to 2027. The exploitation of new types of
enzymes, improvement of enzyme properties, and the production of enzymes
are the overall goals of innovations in the enzyme manufacturing
industry. The significant progress in genetics and processing technology
enables the enzyme industry to offer products with improved properties,
often at reduced costs. Genetic engineering opens new paths for
enzymes, with improved stability, activity or specificity, and
productivity.
Proteases segment is identified to be the fastest growing among the various types of enzymes during the forecast period
Proteases are the enzymes essential for the digestion of protein.
They are used to hydrolyze all types of proteins until they become
components of living cells. These enzymes can be obtained from plants,
animals, and microorganisms in several conditions, such as high salt
concentrations. Proteases have been offered by major key players such as
BASF (Germany) and DuPont (US) for industrial applications such as food
& beverages, biofuel, textiles & leather, and paper & pulp.
The industrial manufacturers prefer the enzymes over other products as
they aid in reducing costs and environmental pollution. For instance,
proteases have been used to remove hair from hides, which helps in
mitigating the usage of hazardous chemicals. This resulted in mitigating
the usage of hazardous chemicals in the leather industry, thereby
decreasing the environmental pollution. The usage of enzymes in the pulp
& paper industry helps in biofilm removal with less cost involved
and lower chemical discharge in the water. The manufacturers of
cosmetics have also been benefitted by the anti-microbial functions of
the proteases. In the feed industry proteases are used to decrease the
share of amino acids which are indigestible in feed stuffs leading to an
increase the share of digestible amino acids, thereby, enhancing the
digestibility of the feed in the animals. With the growing demand for
meat, the livestock farmers are looking for improved feed products.
Therefore, the players in the market are involved in strategic
partnerships and research and development to launch new products to
increase their market share. For instance, in June 2021, DSM-Novozymes
alliance launched a protease named ProAct 360 for poultry. These
products aid in increasing feed efficiency, sustainability, and
affordability. Another company, Biocatalysts, in November 2021, has
launched a preparation of protease for valorizing the animal protein.
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In the enzymes market, microorganism-based enzymes segment is registering the highest growth during the forecast period
Enzymes are biocatalysts that play an important role in metabolic and
biochemical reactions. Microorganisms are the primary source of
industrial enzymes, as they are cultured in large quantities in a short
span of time and genetic manipulations can be done on bacterial cells to
enhance enzyme production for usage in various industrial applications
such as food & beverages, biofuel, pulp & paper, textiles &
leather, and wastewater treatment. The major factor which resulted in
manufacturers’ preferences for enzymes from microbial sources is their
active and stable nature as compared to enzymes from plants and animals.
Additionally, microbial enzymes can degrade a wide range of complex
substrates, including carbohydrases, into more useful energy sources.
Asia Pacific region to witness the highest growth rate in the enzymes market during the forecast period
The Asia Pacific region is projected to witness the fastest growth
rate of 7.85% during the forecast period. Asia Pacific is the leading
region in terms of sugar production and is projected to expand its
production share by 2027 (OECD-FAO Agricultural Outlook 2018–2027).
Owing to the large production of sugar, enzymes are often used to
hydrolyze starch to enhance the sugar production process and improve the
overall performance. Furthermore, the use of enzymes in the biofuel
industry is expected to grow at a higher rate owing to the increase in
bioethanol production and its usage in fueling automobiles and
electricity and government support. The enzymes market in China, is
projected to grow at a higher rate as China has advanced in adapting
various new technologies for biotechnology and pharmaceutical-based
research & developments. The usage of enzymes in specialty
applications has been augmenting in China due to its versatile nature
utilized in cell replacements and therapeutic treatments for various
medical disorders & diseases. Thus, the expanding production
facilities in the region and advancements in adopting technologies for
biotech and pharmaceutical industry is boosting the growth of the market in the region.
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Created on Jul 7th 2023 04:09. Viewed 83 times.
