The global enzymes market size was estimated at USD 20.31 billion in 2030 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. The rising consumption of functional food products on the account of the increasing awareness regarding an individual’s health is likely to positively influence the product demand over the forecast period.
Carbohydrase is bifurcated as cellulose, amylase, pectinase, xylanase, and lactase. It is widely used as an ingredient in the formulation of carbonated drinks. The growing usage of different kinds of carbohydrases in the animal feed and pharmaceutical industry is further projected to boost the overall industry demand in the coming years.
In North America, the U.S. is dominating the market for enzymes across the region on the account of the changing consumer preferences and rising demand for organic and nutritional food items from the food & beverage industry. Furthermore, the escalating market growth from the pharmaceutical and nutraceutical industry is anticipated to fuel the industry growth over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Enzymes Market
The market is an oligopolistic market with major players dominating the marketspace such as DSM, Novozymes, and DuPont Danisco among others. There is a significant rise in the demand for high-quality specialty enzymes across the globe. Thus, raw material distributors and manufacturers are witnessing a spike in lucrative opportunities to offer uniform and superior quality products via a systematic supply chain network.
Enzymes Market Report Highlights
Food & Beverages segment accounted for more than 22.9% in 2022of the industrial type share due to the rising usage of enzymes in bakery and functional food productsIndustrial emerged as the largest type segment in 2022 and is estimated to generate revenue of over USD 11.42 billion by 2030Microorganisms emerged as the largest source segment in 2022 and are estimated to generate revenue over USD 17.47 billion by 2030North America is projected to witness the fastest growth rate of 6.6% from 2023 to 2030 due to the rising R&D activities across the developed countries coupled with the presence of numerous end-use application manufacturers in the pharmaceuticals, food & beverage, and personal care & cosmetics sectorPharmaceutical emerged as the largest specialty type segment with a revenue share of 40.6% in 2022, due to the increasing usage of the product in different applications including wound healing, diagnosing diseases, and killing disease-causing bacteriaList of Key Players in the Enzymes Market
BASFNovozymesDuPont DaniscoDSMNOVUS InternationalAssociated British Foods PlcHansen Holding A/SAdvanced Enzyme TechnologiesLesaffreAdisseoOrder a free sample PDF of the Enzymes Market Intelligence Study, published by Grand View Research.
