DUBLIN--(BUSINESS WIRE)--The "Enzymes Market by Product Type (Industrial Enzymes and Specialty Enzymes), Source (Microorganism, Plant, and Animal), Type, Industrial Enzyme Application, Specialty Enzymes Application, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, the enzymes market is estimated to be valued at USD 10.0 billion in 2019 and is projected to reach USD 14.7billion by 2025, recording a CAGR of 6.7%, in terms of value.
Factors such as the increasing environmental concern among people and the rising demand for biofuel are projected to drive the growth of the enzymes market during the forecast period. However, the growth of the enzymes market is inhibited by factors, such as the adherence to the international regulations imposed by different governing agencies. In addition, the lack of uniformity in the regulatory structure for the use of industrial enzymes inhibits the growth of this market.
By product type, the industrial enzymes segment accounted for the largest share in 2019.
The industrial enzymes segment accounted for a major share in the enzymes market, on the basis of product type, in 2018. Enzymes are used in various industries and have multiple applications, such as textile, laundry detergents, pulp & paper, and leather. Due to factors such as low manufacturing cost and reduced energy consumption, enzymes are being widely used across different industries.
By source, the microorganism segment is estimated to account for the largest share.
Based on the source, the enzymes market is segmented into microorganisms, plants, and animals. The microorganisms segment is estimated to account for the largest share for the enzymes market as they are the primary source of industrial enzymes due to its special characteristics and other biochemical properties.In addition, microbial enzymes are an important source of raw materials for specialty applications due to their diversity. Key factors that encourage manufacturers to opt for enzymes from microbial sources are their active and stable nature and their capability to degrade a wide range of complex substrates into more useful energy sources.
North America accounted for the largest share in the enzymes market due to its wide industrial and specialty applications.
The enzymes market in the North American region is largely driven by technological advancements that have made enzymes available for a wide range of applications. These technological advancements have contributed, particularly to the growth of the enzymes market in this region. Although the enzymes market in this region has reached its maturity, the pharmaceutical industry has witnessed an increase in the usage of enzymes.
- 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
- Stringent Regulatory Framework
- Demand For An Alternative To Synthetic Chemicals
- Concerns Over Quality, Safety, And Consumer Perception Toward Enzymes
- Associated British Foods
- Kerry Group
- Dyadic International, Inc.
- Advanced Enzymes
- CHR. Hansen
- Aumgene Biosciences
- Amano Enzyme
- Roche Holding
- Merck Kgaa
- Enzyme Supplies
- Creative Enzymes
- Enzyme Solutions
- Enzymatic Deinking Technologies
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