DUBLIN--(BUSINESS WIRE)--The "Specialty Enzymes Market - Growth, Trends and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global specialty enzymes market is projected to grow with a CAGR of 7.5% during the forecast period. Waste reduction and energy saving is the major factor driving the market studied followed by increasing demand in the food and feed industry.
The restrictions on temperature and pH levels may lead to higher input costs and cover up any possible losses in case of faulty production. This consequently gives an upper hand to major players with huge financial support as opposed to new players.
North America holds the major share of the market, however, Asia-pacific is accounted to be the fastest-growing market owing to rising disposable income and awareness which has led to a boost in the demand in various industries.
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Key Market Trends
Animal Feed Sector is Growing at a Faster Pace
The phytase enzyme has wide applications in the global feed enzymes market. Various emerging players are launching innovative phytase enzymes and insisting on taking approval through the US Food and Drug Administration (FDA), and the US Center for Veterinary Medicine to use the product in animal feed diets. For instance, In November 2018, Agrivida, the Massachusetts-based biotechnology startup, launched an enzyme constituting corn feed ingredient, Grainzyme Phytase approved from FDA and US Center for Veterinary Medicine, assisting the application in the United States poultry market. The trend of sustainable processing is further driving the market studied. Numerous educational programs and researches have been initiated within the regions assisted by government agencies. In 2018, Novozymes/DSM formed an alliance with more than 200 feed industry customers in South Africa and other countries in the region through Enzyme Academies, to educate them about feed enzymes and their sustainability benefits.
North America Leading the Market
North America is the largest market for specialty enzymes with its major applications in food and feed industries. It accounts for a prominent share of the global specialty enzyme market. Increased consumption of meat and meat products in the region has augmented the demand for the enzyme in the feed industries. The market is driven by the increased consumption of processed food products, increased expenditure in premium quality products and consumer preference for the natural ingredients used in the products. Enzymes are natural additives that are added to food products to increase the yield productivity, improve quality performance and enhance the shelf life of the products.
- Kerry Inc.
- Chr. Hansen Holding A/S
- DuPont de Nemours, Inc.
- Associate British Foods PLC
- Specialty Enzymes & Probiotics
- AST Enzymes
Key Topics Covered:
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Source
5.2 By Type
5.2.4 Other Types
5.3 By Application
5.3.1 Food & Beverage
5.3.3 Animal Nutrition
5.3.4 Other Applications
5.4.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.4.4 South America
220.127.116.11 Rest of South America
5.4.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/u0tisy