Seattle, WA -- (SBWIRE) -- 09/19/2019 -- 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 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.
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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 including growing demand for specialty enzymes, blooming pharmaceutical industry and focus on increased production in every end-use 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, biological detergents, while they are also used in molecular biology and in the food processing and brewing industries, among others.
Enzymes Market Taxonomy
On the basis of source, the global market is classified into:
Plant
Animal
Microorganisms
On the basis of product type, the global market is classified into:
Ligases
Isomerases
Lyases
Oxidoreductases
Transferases
On the basis of application, the global market is classified into:
Digestive Enzymes
Metabolic Enzymes
Cleaning Enzymes
On the basis of end-use industry, the global market is classified into:
Food and Beverages
Cosmetics
Pharmaceutical
Biofuel and Gas
Feed
Textile
Paper and Pulp
Detergent
Others
On the basis of geography, the global market is classified into:
North America
-U.S.
-Canada
Europe
-U.K.
-Germany
-Italy
-France
-Spain
-Russia
-Rest of Europe
Asia Pacific
-China
-India
-Japan
-ASEAN
-Australia
-South Korea
-Rest of Asia Pacific
Latin America
-Brazil
-Mexico
-Argentina
-Rest of Latin America
Middle East
-GCC Countries
-Israel
-Rest of Middle East
Africa
-Northern Africa
-Central Africa
-South Africa
Europe, followed by North America is expected to lead the global enzymes market over the forecast period, owing to high demand for functional food and presence of large end-use industries such as food and pharmaceuticals in these developed regions. However, rampant economic growth in emerging economies of India and China, along with burgeoning growth of various end-use industries in Asia Pacific are expected to position the region as the fastest-growing region in the global enzymes market over the forecast period. Asia Pacific is expected to be the most lucrative region in the enzymes market due to the growing population, which stirs the demand for food and pharmaceuticals, and the increasing inclination towards functional food among the populace.
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Enzymes Market Outlook – Increasing Preference for Functional Foods is expected to Drive the Market Growth
Enzymes are used to manufacture functional foods. Consuming functional foods can lead to reduced risk of chronic diseases. Increasing sedentary lifestyle among the populace has led to growing health concerns. Therefore, various government and private organizations are focused on increasing health awareness by promoting consumption of functional foods. This in turn is expected to boost demand for functional foods, thereby boosting growth of the market.
Use of enzymes such as protease, lipase, amylase, and cellulose in functional foods promotes digestion, anti-oxidation, decreased cell aging, and boosts nutrient properties. For instance, omega 3 fatty acids and probiotic yogurts are used as functional foods in order to lower cholesterol level. Several scientists and researchers claim that omega 3 fatty acids aid in boosting brain functioning.
The global functional food market is estimated to reach US$ 65 billion by 2024, witnessing a CAGR of over 15% during the forecast period.
However, detergents containing enzymes may cause skin allergies, which may hinder growth of the market. Enzymes used in detergents such as sodium tripolyphosphate, sodium alkane carboxylates, and bacillus protease reportedly cause skin and eye infections. Moreover, high costs associated with the safe handling of enzymes is also expected to adversely impact the market growth.
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.
Key Developments
1. Key companies in the market are focused on various business strategies such as business expansion, in order to enhance their market presence. For instance, in October 2017, BASF SE, a Germany-based chemical company, opened its new enzyme-based state-of-the-art production plant for biocatalyzed acrylamide in China. This new plant will boost the production of high-quality polyacrylamide.
2. Major companies in the market are focused on various growth strategies such as partnership and agreement, in order to gain competitive edge in the market. For instance, in February 2019, Codexis, Inc., a U.S.-based protein engineering company, entered into multi-year, exclusive supply agreement with KYORIN Pharmaceuticals Co., Ltd. for the supply of proprietary enzyme. This enzyme will be used for manufacturing of vibegron, which is an active ingredient in Beova Tablets, used for treatment of overactive bladder.
3. Key players in the market are involved in various growth strategies such as product launch, in order to expand their product portfolio. For instance, in March 2019, AB Enzymes, an industrial biotech company, launched ROHALASE SEPARATION, a grain processing enzyme. It is a food-grade enzyme product, which is developed for wheat-starch-gluten separation process.
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