GLOBAL ENZYMES MARKET
Enzymes are the molecules that speed
up the rate of the chemical reactions that take place within a cell. They are very
crucial for life and helps in some of the most important functions in the body,
such as digestion and metabolism. Enzymes are beneficial to human beings in
many ways. Firstly, cellular reactions occur faster with the presence of an
enzyme. Furthermore, enzymes facilitate the breakdown of food particles for
energy. Proteolytic enzymes help to break
down and digest protein. They are also found in certain foods and dietary
supplements. Some of the best sources of enzymes are papayas and pineapples
containing papain and bromelain respectively. Other sources include Ginger,
asparagus, yogurt, kefir, among others. Due to the growing health conscious
population and countless benefits of enzymes in the daily life, the global
enzymes market is expected to witness a significant growth of 8.9% during the
forecast period.
On the basis of product, the market
is categorised into carbohydrases, proteases, and lipases. On the basis of
application, the market is segmented into food & beverages, household care,
bio energy, pharmaceutical, and biotechnology. And on the basis of region, the
market is classified into North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa.
Changing lifestyles and rising consumer
preferences towards packaged and processed foods is majorly driving the enzymes
market. Incorporation of enzymes in food products enhances the product life and
prolongs the nutritional content. Increasing adoption of auxiliary chemicals
for bleaching & deinking and fiber modification has created great
opportunities for the market, especially, in the pulp & paper industry. Furthermore,
addition of enzymes helps to enhance the effectiveness of detergents and helps in
quick removal of stains. In healthcare sector, removal of the blood stains
becomes easy with the help of an enzyme-based detergent. Lack of standardized
regulations and guidelines leading to complex situation among the manufacturers
is hampering the market growth. However, industry expansions, government initiatives
to enforce taxes & subsidies on food items accompanied by the increasing trade
practices between several economies across the globe will propel the market
growth in the forthcoming years. For instance, North America Free Trade
Agreement (NAFTA) and Trans-Pacific Partnership (TPP) encourage the
international trade among several countries, as per study. Urbanization, increase
in disposable income and growing health awareness are also anticipated to
attract lucrative opportunities in the near future.
North America is dominating with a
market share of 37.48% in 2018, as per research and is anticipated to continue
to grow during the forecast period. New product adoption, presence of major
manufacturers such as JBF and Tyson, and supportive government framework are driving
the enzymes market in the region. Rising cases of diseases associated with red
meat such as pork and beef have forced the farmers to prefer good quality feed.
Europe has emerged as the second largest region due to growing research and
development activities in the field of biotechnology and renewable energy. In
addition to this, growing demand for cattle feed products is expected to
contribute in the regional expansion over the next few years. Expansion in
industrial sector has led to increase in the demand of enzymes in the Asia
Pacific region, especially in China and India. China is dominating in food and
beverage, pulp and paper and, textile industry, making it one of the largest
consumers for industrial enzymes.
Some of the major players in the
market are Novozymes, Danisco, Dow, BASF, Advanced Enzymes, Lonza Group, AB
Enzymes, Chr. Hansen, Roche, ADM, Enmex, BBI Enzymes Ltd., Procter & Gamble
Co., Puratos Group, and Novus International, Inc.
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