Enzymes Market Overview: 2023-2030 Insights
Enzymes Industry | Forecast 2030
Enzymes Industry Data Book - Industrial Enzymes and Specialty Enzymes Market
The economic value generated by the enzymes industry was estimated at approximately USD 12.28 billion in 2022. This economic output is an amalgamation of basic enzyme categories namely, industrial enzymes and specialty enzymes.
The global market is anticipated to expand at a notable CAGR over the forecast period due to the growing demand for specialty enzymes in several applications including research, pharmaceutical, diagnostics, and biotechnology. Industrial enzymes are expected to witness significant growth due to their increasing demand from animal feed and nutraceutical industries. Rising consumer awareness about health has resulted in the growing consumption of functional food products, which is expected to trigger product demand in the coming years.
Access the Global Enzymes Industry Data Book, 2024 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Microorganisms as a key source of enzymes are growing at a fast pace, which can be attributed to the low production cost and easy availability of raw materials to enzyme manufacturers. End-use industries are extensively using enzymes sourced from microorganisms as these enzymes can be used to manufacture several products and their scope is not restricted. This is beneficial for the product portfolio of enzyme manufacturers.
Industrial Enzymes Market insights
The global industrial enzymes market size was estimated at USD 7.42 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030. Increasing global consumption of bakery products and fruit juices is expected to fuel the demand for industrial enzymes. This factor is anticipated to contribute to the growth of the industry in the coming years. Industrial enzymes are frequently used in food and beverage sector to increase product quality and shelf life. They are utilized in brewing and baking processes, as well as in dairy, starch, and sugar products that people regularly consume in large quantities. They are employed in baking applications to provide flour or dough particular qualities. They help in reducing protein content of flour in biscuits and crackers, while their usage in bread enhances or standardizes its quality and guarantees uniform browning.
Industrial enzymes are extensively used in food & beverage industry and since food is a basic necessity, the demand for the product expands constantly at a brisk pace. Moreover, growing worldwide population is also projected to boost market growth. By 2050, the world population is expected to exceed 9.7 billion, and by 2100, it may be close to 11 billion, according to United Nations Department of Economic and Social Affairs (UN DESA). Such factors are anticipated to prosper global industry demand over the forecast period.
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Specialty Enzymes Market insights
The global specialty enzymes market size was valued at USD 5.31 billion in 2022 and is expected to grow at a compounded annual growth rate (CAGR) of 6.6 % from 2023 to 2030. The growth of the product market is attributed to the growing prevalence of chronic diseases such as cancer and rheumatoid arthritis. Furthermore, the expansion of food industries drives the demand for specialty enzymes. The enzymes such as lipases, amylases, proteases, rennet, pectinases, invertases, cellulases, and glucose oxidase play a vital role in the food processing industry. However, the complexities in biosimilar development may hinder the market's growth.
Utilizing specialty enzymes offers swift and practical solutions to these issues, contributing to market expansion. Specialty enzymes are widely employed in various diagnostic methods, including DNA modification and sequencing. The projected decline in DNA modification and sequencing costs is expected to drive the demand for enzymes in research, biotechnology, and medicinal applications. Moreover, the aging population in affluent countries is anticipated to increase the requirement for specialized enzymes in the healthcare sector.
Go through the table of content of Enzymes Industry Data Book to get a better understanding of the Coverage & Scope of the study
Table of Contents - Sectoral Outlook Report
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
Chapter 2. Executive Summary
2.1. Industry Snapshot
2.2. Key Trends - Highlights
Chapter 3. Industry Trend Analysis
3.1. Regulatory Framework & Benchmark
3.2. Value Chain Analysis
3.2.1. Technological Outlook
3.3. Enzymes Trade Analysis (HS Code: 3507 Enzymes; prepared enzymes, n.e.s.)
3.3.1. Imports, by Region & Key Countries, 2018 - 2022
3.3.2. Exports, by Region & Key Countries, 2018 - 2022
3.4. Competitive Benchmarking
3.4.1. Manufacturing Ranking & Heat-map Analysis
3.4.2. Distribution Channel Analysis
3.5. Macro Environmental Trend Analysis
3.5.1. Industry Driving Forces & Impact Analysis
3.5.2. Opportunities & Challenges
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