Enzymes Market Size to Worth Around US$ 20.5 Billion by 2030

June 23, 2022

According to Precedence Research, the global enzymes market size was valued at US$ 11.71 billion in 2021 and is expected to worth around US$ 20.5 billion by 2030, poised to grow at a CAGR of 6.42% from 2022 to 2030.

/EIN News/ -- Tokyo, June 23, 2022 (GLOBE NEWSWIRE) -- The enzymes market will reach valuation at US$ 12.46 billion in 2022. The enzymes market is mainly seeing a growth due to increase in the demand for medicines and biotechnological products. The food and beverages industry is also helping the market to propel as a result of the primary action of the enzymes to breakdown complex nutrients. The process of digestion is mainly carried on by the enzyme in the body. Various pharmaceutical companies are doing research and development over the action and uses of enzymes to develop new medicines in order to maintain health.

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Regional Snapshots

Owing to the rapid urbanization the food and beverages industry is showing a significant growth which in turn benefits the enzyme market. North America is one of the leading markets for the enzymes. Developing nations like India and China are shifting towards fast food owing to the urban lifestyles followed by the people. Europe proves to be another potential market for this industry. Asia Pacific region has also shown a significant growth in the market size during the forecast period.

Report highlights

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Scope of the Report

Report Attributes Details
Market Size in 2021 USD 11.71 Billion
Revenue Forecast by 2030 USD 20.5 Billion
CAGR 6.42% from 2022 to 2030
Base Year 2021
Forecast Year 2022 to 2030
Key Players BASF (Germany), DuPont (US), Associated British Foods (UK), Advanced Enzymes Technologies (India), Aumgene Biosciences (India), Chr Hansen (Denmark), Creative Enzymes (US), Enzyme Solutions (US), Amano Enzymes (Japan), Roche Holding (Switzerland), Codexis (US)

Market Dynamics

Drivers

Enzymes play a major role in breaking down the complex food molecules into the simpler ones which facilitates digestion. The food and beverages industry is providing a potential driving force to the development of the market. The pharmaceutical sector is also pushing the market with its full capacity. Owing to the changing lifestyle and habits in the urban countries the use of enzyme containing drugs has increased tremendously. The pharmaceutical industry performs research on the action of enzymes on the human body and thus produces medicines which can fulfill the action in the body. It is also an important factor of the laundry and textile industry which has a challenging task of dealing with oil stains. The oil stains are treated with the help of enzymes in the form of chlorine to break down the oil particles and convert it into simpler molecules, hence removing the stain easily. The rise in the number of chronic ailments relating to the digestive system has supported the market to grow during the forecast period.

Restraints

The factors of handling and packaging have proved to be among the restraining factors for the market. The improper handling of the enzymes leads to waste of raw materials. Improper storage also hampers the pH balance of the enzymes. There is no fixed standardization of the process and quality of the product that has to be maintained which makes it very dicy for the consumers as end users. Fluctuating standards remain as a restraining factor for the society which will hamper the market growth during the forecast period. The European rules and regulations have given permission regarding the additives in feedstocks which is hampering the quality of the process and hence creating confusion among the manufacturers worldwide. The absence of harmonization in the product thus produced leads to a variation in the quality of the product. These multiple factors act as the restraining factors for the market.

Opportunities

As a result of the huge geriatric population existing worldwide, the number of chronic ailments which require palliative treatment is on a rise. Hence the use of enzymes for the treatment of such chronic ailments proves to be very beneficial. The prevalence of cardiac disorders and lysosomal diseases has propelled the demand for therapeutic drugs prepared from enzymes which prove to be useful for the treatment of such diseases. The rise in the number of cancer patients worldwide has also increased the demand for drugs made from enzymes. Other chronic ailments related to digestive disorders also helps to boost the market during the forecast period. The rapid change in lifestyle and habits among people residing in the urban areas has increased the risk of cancer which will in turn propel the market for the enzymes industry. These multiple factors will help to boost the revenue for the enzymes market in the near future.

Challenges

Lack of standardization of the process and final products produced has proved to be a challenge for the market growth. This condition leads to a loss of confidence of the consumers in the market growth. The need for harmony is another factor that pulls down the future prospects for the market. The quality of the products is too variable depending upon the handling procedures of the raw materials. This altering the pH values and consistency of the final product. The approval regarding the contamination of the feedstocks has created discrepancies amongst the leading producers in the region of Europe.

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