The enzymes market is anticipated to reach over USD 21,760.9 million by 2026. In 2017, the carbohydrase segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
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The well-known companies profiled in the report include AB Enzymes, BBI Enzymes Ltd., Advanced Enzyme Technology Ltd., Roche Holding AG, Sanofi S.A., BASF SE, DuPont, Novus International Inc., Novozymes A/S, Associated British Foods PLC, CHR Hansen Holding A/S, and Danisco A/S among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
The diverse applications of enzymes in industries such as healthcare, food and beverages, pharmaceutical, personal care, textile, and animal feed among others is expected to support the growth of this market. Other driving factors include introduction of genetically-engineered enzymes, and stringent government regulations regarding use of chemicals. Increasing demand from developing nations, use of enzymes as alternatives for synthetic chemicals, and technological advancements are expected provide numerous growth opportunities to the market players during the forecast period.
Enzymes are used in a wide range of applications in medical and healthcare sector. Enzymes are used in diagnosis of diseases, drug manufacturing, cleaning wounds, assisting in healing processes, and analytical testing for disease detection among others. In the food industry enzymes are used in fruit juices, alcohol, baked goods, and preserved food among others.
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North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The presence of well-established industries such as healthcare, pharmaceutical, and food & beverages, substantial initiatives in research and development, and favorable government policies drive the market growth. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing adoption of enzymes in food and beverages, and consumer goods.
Table of Contents:
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Enzymes Market Insights
3.1. Enzymes – Industry snapshot
3.2. Enzymes - Ecosystem analysis
3.3. Enzymes Market Dynamics
3.3.1. Enzymes – Market Forces
184.108.40.206. Enzymes Market Driver Analysis
220.127.116.11. Enzymes Market Restraint/Challenges analysis
18.104.22.168. Enzymes Market Opportunity Analysis
3.3.2. Industry analysis - Porter's five force
22.214.171.124. Bargaining power of supplier
126.96.36.199. Bargaining power of buyer
188.8.131.52. Threat of substitute
184.108.40.206. Threat of new entrant
220.127.116.11. Degree of competition
3.3.3. Enzymes Market PEST Analysis, 2016
3.3.4. Enzymes Market Value Chain Analysis
3.3.5. Enzymes Industry Trends
3.3.6. Competitive Ranking Analysis
4. Enzymes Market Size and Forecast, 2017-2026 by Type
4.1. Key Findings
4.4. Polymerases and Nucleases
5. Enzymes Market Size and Forecast, 2017-2026 by Application
5.1. Key Findings
5.2. Food and Beverages
5.3. Cosmetics and Personal Care
5.5. Animal Feed
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The different applications of enzymes include food and beverages, cosmetics and personal care, textile, animal feed, paper and pulp, medical & pharmaceutical, and others. In 2017, the food and beverage accounted for the highest market share. The increasing need to offer high quality and good tasting processed food has resulted in the growth of enzymes in this sector. Enzymes are used in baked goods for regulating the rate of chemical reactions in baking processes. The rising demand of nutritional diet, and favorable government regulations are expected to support market growth during the forecast period.