The Specialty Enzymes Global Market Report 2023 by The Business Research Company, provides specialty enzymes market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Specialty Enzymes Global Market Report 2023, the market size grew from $5.57 billion in 2022 to $5.97 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The specialty enzymes market size of global specialty enzymes is expected to grow from $7.8 billion in 2027 at a CAGR of 6.9%.
Growing investment in biotechnology research and development is expected to boost market growth during the forecast period. Specialty enzymes are widely used in biotech research and development, particularly in molecular biology. The increasing investment and an increase in the number of companies conducting biotechnology research and development will in turn increase the number of biotech researchers.
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The specialty enzymes market is segmented:
1) By Type: Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, Oxidase & Hydratases, Other Types
2) By Source: Microorganisms, Animals, Plants
3) By Application: Pharmaceutical, Diagnostics, Research & Biotechnology, Food & Beverage, Animal Nutrition, Other Applications
Technological advancements show opportunities for the production of enzyme products more efficiently. Challenges such as complexity in maintaining pH, the operational high temperature of specialty enzymes, and the significant cost of maintenance of specialty enzyme products pave the way for technological advancements. For instance, in February 2020, DuPont Nutrition Biosciences ApS, a Denmark based company specialising in the development, manufacturing, and sale of ingredients for food and beverages, enzymes, and bio-based products, launched the POWERBake enzyme based on its emulsification technology. The enzymes give bakeries and improvement centers a special emulsification solution that satisfies consumer expectations for cleaner labelling while maintaining the flavour and quality of white breads and buns.
The specialty enzymes market report table of contents includes:
1. Executive Summary
2. Specialty Enzymes Market Characteristics
3. Specialty Enzymes Market Trends And Strategies
4. Specialty Enzymes Market – Macro Economic Scenario
5. Specialty Enzymes Market Size And Growth
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26. Africa Specialty Enzymes Market
27. Specialty Enzymes Market Competitive Landscape And Company Profiles
28. Specialty Enzymes Pipeline Analysis
29. Key Mergers And Acquisitions In The Specialty Enzymes Market
30. Specialty Enzymes Market Future Outlook and Potential Analysis
Top Major Players:
- BASF SE
- Novozymes A/S
- Roche Holding AG
- Codexis Inc
- Specialty Enzymes & Probiotics
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