Enzymes Market Analysis
Enzymes Market - Global Industry Trends, Outlook, Regulatory Bodies & Regulations and Key Market Players
Enzymes are molecular catalysts that accelerate chemical reactions to produce the desired end-result. Enzymes include most proteins and RNA molecules. Enzyme activity can be regulated by activators and inhibitors, which help to increase and decrease the activity of enzymes, respectively. Among product types, Lyases help in catalyzing the structural formation of bonds within an atomic structure by adding or removing chemical groups. The ligases can catalyze the bonding between different substrates with the help of an energy source. Isomerases activate the restructuring of chemicals within a particular molecule. Oxidoreductases help in oxidation reduction, a process in which a specific atom donates its electron to a different atom, while transferases help in the transfer of chemical groups from one substance to another.
Digestive enzymes such as amylase, gelatinase, and lipase have the ability to convert food into usable compounds. Metabolic enzymes including acetyl coenzymes A and Phosphoglycerate Dehydrogenase are generated in the body and help in the optimal functioning of organs and tissues, while also regulating blood flow. Food enzymes such as lactase, lipase, and protease are extracted from milk, sugar, oil, meat, and nuts among others.
Factors such as growing demand for specialty enzymes and blooming pharmaceutical industry is expected to drive growth of the global enzymes market over the forecast period (2016 – 2024).
Enzymes are widely used in the manufacturing of biofuels, paper, starch, dairy products, and biological detergents. They are also used in molecular biology and in food processing and brewing industries.
Enzymes Market Taxonomy
On the basis of source, the global market is classified into:
On the basis of product type, the global market is classified into:
On the basis of application, the global market is classified into:
On the basis of end-use industry, the global market is classified into:
On the basis of geography, the global market is classified into:
Europe, followed by North America, is expected to hold dominant position in the global enzymes market over the forecast period, owing to high demand for functional foods and presence of large end-use industries such as food and pharmaceuticals in these developed regions. The market in Asia Pacific is expected to witness the fastest growth, owing to rapid economic growth in emerging economies of India and China and growing end-use industries in the region. Asia Pacific is expected to be the most lucrative market due to growing population, which stirs the demand for food and pharmaceuticals and increasing inclination towards functional foods among the populace.
Enzymes Market Outlook – Consumer Preference towards Functional Food to Drive the Market Growth
Growing health concerns due to increasing sedentary lifestyle among the populace has led to a greater emphasis on creating and perpetuating health awareness by various government and private organizations. Enzymes are used to manufacture functional foods. Consumption of functional foods can reduce the risk of several diseases, thereby increasing their demand. These factors are expected to drive growth of the enzymes market over the forecast period. Enzymes such as protease, lipase, amylase, and cellulose are used in functional foods to enhance their functional attributes such as improvement in digestion, anti-oxidation, decreased cell aging, and nutrient properties. For instance, in order to lower cholesterol count, omega 3 fatty acids and probiotic yogurts are used as functional foods. Many scientists and researchers claim that omega 3 fatty acids also improve brain functioning.
The global functional food market is estimated to reach US$ 65 billion by 2024 and is estimated to exhibit at a CAGR of over 15% over the forecast period.
Skin allergies triggered by detergents containing enzymes and high costs associated with the safe handling of enzymes act as barriers for growth of the global enzymes market. Enzymes used in detergents such as sodium tripolyphosphate, sodium alkane carboxylates, and bacillus protease reportedly cause skin and eye infections.
Key players operating in the global enzymes market include, Sanofi S.A., BASF, Roche Holding AG, BBI Enzymes Ltd., Codexis Inc., Affymetrix Inc., and AB Enzymes.
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