The global enzymes market size was valued at USD 11.63 billion in 2019 and is anticipated to grow at a CAGR of 9.5% during the forecast period. Enzymes are biological molecules that act as catalysts and regulate the rate of complex reactions. The different types of enzymes include carbohydrase, proteases, lipases, and polymerases & nucleases among others. Enzymes are used in a wide range of applications such as medicine, pharmaceutical, consumer goods, detergents, food and beverages, animal feed, biofuels, leather, and textile among others. In the medicine sector, enzymes are used for accelerating wound healing, killing of harmful microorganisms, and diagnosis of certain diseases.
The increasing use of enzymes in manufacturing of processed food and baked goods coupled with overall growth in the food and beverages industry drives the growth of the market. Enzymes are used in various industries such as healthcare, pharmaceutical, consumer goods, and biotechnology among others, and growth in these industries worldwide is expected to supplement the growth of the market. Stringent government regulations regarding the use of chemicals, and growing environmental concerns are expected to further boost the market during the forecast period. Other factors driving the market include increasing demand of animal feed, and introduction of genetically-engineered enzymes. Growing demand from emerging economies is expected to provide numerous growth opportunities in the coming years.
The global Enzymes market is segmented on the basis of type, application, and region. Based on type, the market is segmented into protease, carbohydrase, polymerases and nucleases, lipase, and others. The application segment is categorized into food and beverages, cosmetics and personal care, textile, animal feed, paper and pulp, medical & pharmaceutical, and others. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the global Enzymes market in 2019.
The leading players in the market 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. The leading players in the market are introducing new innovative products in the market to cater to the growing consumer demands. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.