Enzymes Market Is Projected To Be Around $7.65 Billion By 2025
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A research study titled, “Enzymes Market by Product Type, Application and Reaction Type - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the Enzymes Market is projected to be around $7.65 billion by 2025.
The global Enzymes market was worth USD 4.56 billion in the year of 2016 and is expected to reach approximately USD 7.65 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 5.92% during the forecast period. Enzymes are macromolecular organic impetuses. Chemical reactions are escalated by enzymes. The molecules that the enzymes act as are known as substrates and the enzymes transform the substrate into various molecules known as products. Mostly all metabolic procedures in the cell require enzymes to develop at rates that are fast enough to preserve life. The study of enzymes is known as Enzymology. Enzymes catalyze more than 5,000 types of biochemical reactions. Most of the enzymes are proteins although some of them are catalytic ribonucleic acid enzymes molecules. Certain enzymes are utilized commercially, like in the synthesis of antibiotics. Some household products make the use of enzymes to fasten the chemical reactions. The enzymes present in biological washing powders help to break down fat, protein or starch stains from clothes and the enzymes that are present in the meat tenderizer assists in breaking down the proteins and makes the meat easier to chew.
Increasing utilization of enzymes in detergents, food & beverages and pharmaceuticals is one of the major factors that boost the growth of this market. In addition, the usage of enzymes in the germination in breweries, for the clarification of fruit juices, food processing and manufacturing of cheese is anticipated to have a significant impact on the growth of the global enzymes market. Increasing requirement of enzymes for applications like photography, contact lens cleaners, molecular biology and rubber are said to fuel the demand of the product, thereby driving the enzymes market. Additionally, rising awareness among consumers regarding high quality food is one of the prime factors that drive the growth of this market.
On the basis of type the global enzymes market is segmented into Amylases, Cellulase, Protease, Lipase and Phytase. On the basis of applications the market is segmented into Food & beverages, Animal feed and cleaning agents. On the basis of target audience the market is segmented into Government and research organizations, Food & beverage, animal feed, cleaning agent & detergent manufacturers, Enzyme importers and exporters and Enzyme traders, distributors, and suppliers. Some of the prominent players in the enzymes market are Roche Holding AG, Advanced Enzymes, DSM, Danisco, DuPont Genencor, Lonza Group, Ab Enzymes GmbH and Novozymes. Geographically, the market is segmented into Asia Pacific, North America, Europe and Rest of the world.
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Key findings of the enzymes market
- Due to increasing awareness of therapies for chronic diseases, specialty enzymes are anticipated to encounter significant growth in the following years. Increasing utilization of enzymes for diagnostic solutions is said to boost the growth of the market. By using enzymes the chemical reaction in research and biology are accelerated.
- Because of the rising demand of poultry, aquaculture species, bovine and swine, the animal feed sector is expected to grow substantially in the upcoming years. Increasing meat production along with growing health concerns associated with the quality of meat is anticipated to boost the animal feed demand.
- The North America enzymes market was worth USD 3.59 billion in the year 2015 and is anticipated to grow substantially owing supportive policies by the government. Increasing requirement of biofuels and animal feed is said to fuel the growth of this market.
- Latin America registered for 8.3 percent of the overall share of the market and is expected to grow significantly owing to rapid industrialization and growing production of biodiesel in Argentina and Brazil.