DUBLIN--(BUSINESS WIRE)--The "Specialty Enzymes Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global specialty enzymes market.
This report focuses on specialty enzymes market which is experiencing strong growth. The report gives a guide to the specialty enzymes market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global specialty enzymes market is expected to grow from $3.79 billion in 2019 to $4.49 billion in 2020 at a growth rate of 18.46%. The growth is mainly due to the COVID-19 that has urged individuals to focus on health and strengthening the immune system and thus, increasing the demand for foods, supplements and drinks containing probiotics. The market is then expected to reach $5.35 billion in 2023 at a CAGR of 6.05%.
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North America was the largest region in the specialty enzymes market and Europe was the second largest region in 2019.
Ethical and societal issues are factors that will slow down the market growth during the forecast period. The clashing public opinions on these issues will determine the acceptability of new industrial biotechnology products. In 2019, a published article stated that there are five societal and ethical themes concerning industrial biotechnology namely sustainability, naturalness, risk management, innovation trajectories and economic justice. Many critics state the factor affecting economic justice is that the applications of industrial biotechnology lead to the concentration of knowledge and power in the hands of a few companies. Thus, societal and ethical issues are expected to impact market growth.
Growing investment in biotechnology research & development is expected to boost market growth during the forecast period. Specialty enzymes are widely used in biotech research and development, particularly in molecular biology. The increasing investment and an increase in the number of companies conducting biotechnology research & development will in turn increase the number of biotech researches. In 2018, the annual investment in UK biotechnology research & development was 2.2 billion which was up from the previous year (1.2 billion) and there is a significant increase in the number of active companies involved in biotech research & development, which reached to 3,456 companies in 2018.
Key Topics Covered:
1. Executive Summary
2. Specialty Enzymes Market Characteristics
3. Specialty Enzymes Market Size and Growth
3.1. Global Specialty Enzymes Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Specialty Enzymes Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Specialty Enzymes Market Segmentation
4.1. Global Specialty Enzymes Market, Segmentation by Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Specialty Enzymes Market, Segmentation by Source, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Specialty Enzymes Market, Segmentation by Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Specialty Enzymes Market Regional and Country Analysis
5.1. Global Specialty Enzymes Market, Split by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Specialty Enzymes Market, Split by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- BASF SE
- Novozymes A/S
- Roche Holding AG
- Codexis Inc.
- Specialty Enzymes & Probiotics
For more information about this report visit https://www.researchandmarkets.com/r/wlxu85