Global Technical Enzymes Market Is Expected to Reach USD 1.56 Billion by 2027 : Fior Markets

Technical Enzymes Market by Type (Amylases, Proteases, Cellulases, Lipases), Form (Dry, Liquid), Source (Animal, Microorganism, Plant), Industry (Textiles & Leather, Biofuel, Paper & Pulp, Starch), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

Newark, NJ, Aug. 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global technical enzymes market is expected to grow from USD 1.1 billion in 2019 and to reach USD 1.56 billion by 2027, growing at a CAGR of 4.0% during the forecast period 2020-2027.

The global market is anticipated to witness significant growth due to the increasing demand for nutritional and digestive enzymes. Rising product usage in manufacturing detergents because of its superior characteristics like enhanced stain removal and the ability to operate in low temperatures is anticipated to drive the growth of the market over the forecast period. Other key factors that are driving the growth of the technical enzymes market are environmental concerns, widescale applications in various industries, advancements of R&D activities, and multi-functionality of technical enzymes, among others.

Enzymes are proteins that play the role of biocatalysts. These catalysts are exceptionally selective and can accelerate certain metabolic reaction speeds, right from DNA synthesis to food digestion in the human body. They are employed in industries to accelerate chemical reactions. Enzymes are used in many green industrial activities because of features, such as selectivity and efficiency. Food enzymes have a broad scope of applications in winemaking & brewing, baking products, cheese production and fruit juices.

With the outbreak of a global pandemic, many people have faced salary cuts and job losses. Covid-19 has become a threat to the entire world’s economy and has negatively impacted all kinds of markets, including the technical enzymes market. With a slow economy and broken supply chains, the growth of the market is expected to slow down.

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Key players operating in the global technical enzymes market include BASF, Epygen Labs, DuPont, Associated British Foods, Aumgene Biosciences, Novozymes, DSM, Advanced Enzymes Technologies, Dyadic International, and MetGen, among others. To gain the significant market share in the global technical enzymes market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Hill-Rom and Stryker are some of the biggest manufacturers and suppliers of technical enzymes in the global market.

Amylases dominated the market and held the largest market share of 34.5% in the year 2019

The type segment includes amylases, proteases, cellulases, and lipases. Amylases dominated the market and held the largest market share of 34.5% in the year 2019. Amylases have a critical role in hydrolyzing starch molecules into polymers made up of glucose groups. Three types of amylases exist- alpha, beta, and gamma-amylase. And all three are glycoside hydrolases, which assist in starch degradation by creating short-chain sugars.

Liquid valued at USD 769.89 million, dominated the market in 2019 and is expected to continue to do so over the forecast period

The form segment includes dry and liquid. Liquid valued at USD 769.89 million, dominated the market in 2019 and is expected to continue to do so over the forecast period. The liquid form of enzymes is commonly used in industries like biofuel and textile & leather. Its prominence can be attributed to its higher blending characteristics with production resources. Since liquid enzymes have less interference with the skin structure, it results in a product of more top quality.

Microorganism dominated the market and held the largest market share of 47.9% in the year 2019

The source segment includes animal, microorganism, and plant. Microorganism dominated the market and held the largest market share of 47.9% in the year 2019. Microorganisms are the main source of technical enzymes, as they can be cultured in large quantities within a short period of time. Genetic manipulations can also be done on cells to improve enzyme production for applications in various industries like biofuel, textile & leather, pulp & paper, and starch processing.

Biofuel dominated the market and valued at USD 390.89 million in the year 2019

The industry segment includes textiles & leather, biofuel, paper & pulp, and starch. Biofuel dominated the market and valued at USD 390.89 million in the year 2019. This can be attributed to factors such as the rising usage of technical enzymes in the biofuel industry, global environmental concerns, and the fact that enzymes are a safer substitute for MTBE, which is hazardous to human health.

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Regional Segment Analysis of the Technical Enzymes Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global technical enzymes market has been classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region accounted for the major market share of 42.5% in the year 2019. This can be attributed to the numerous benefits of technical enzymes since they are a cost-effective & environment-friendly alternative to conventional acidic or conventional alkaline catalysts. Due to technological advancements, technical enzymes are widely available for a range of applications in biofuel, textile & leather, pulp & paper, and starch processing industries. North America is anticipated to be the largest market for technical enzymes over the forecast period. With a rising demand for technical enzymes in various industries, the Asia-Pacific region stands as a promising market for technical enzymes and is expected to grow at the highest CAGR during the forecast period. Other factors like technological advancements in machinery, logistics, synthetic fibres, and globalization are driving the growth of this region.

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About the report:

The global technical enzymes market is analyzed on the basis of value (USD Billion), volume (Tons), export (Tons), and import (Tons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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