Enzymes Market size is to grow by 5.36% from 2021 to 2026|Surge in the production of biofuel is one of the key drivers - Technavio

NEW YORK, July 4, 2023 -- The enzymes market is estimated to grow by USD 2,745.12 million from 2021 to 2026. However, the growth momentum will be progressing at a CAGR of 5.36% during the forecast period. The market is segmented by application (FB, household, bioenergy, feed, and others) and geography (North America, Europe, APAC, South America, and MEA). The enzyme market share growth by the FB segment will be significant during the forecast period.

Enzymes Market Insights -

• Vendors: 15+, Including Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., Associated British Foods Plc, BASF SE, Codexis Inc., DuPont de Nemours Inc., F. Hoffmann-La Roche Ltd., Koninklijke DSM NV, Lonza Group Ltd., and Novo Holdings AS among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Application (FB, household, bioenergy, feed, and others) and geography (North America, Europe, APAC, South America, and MEA)

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Enzymes Market - Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., Associated British Foods Plc, BASF SE, Codexis Inc., DuPont de Nemours Inc., F. Hoffmann-La Roche Ltd., Koninklijke DSM NV, Lonza Group Ltd., and Novo Holdings AS

Enzymes Market – Market Dynamics

Key Driver - 

• The surge in the production of biofuel is one of the key factors notably driving the market growth. 
• For the development of many advanced biochemical processes, enzymes are being used. They have been employed with the motive of overcoming the disadvantages associated with the use of traditional chemical catalysts. 
• Moreover, enzymes are quite capital-intensive to be used on all feedstocks, especially clean plant oils, a simple way of extending the life and lowering the cost of enzymes is by immobilizing them on a solid substrate to enable multiple cycles of use.
• Therefore, the enhanced production of biofuel will augment the demand for enzymes, thereby driving the growth of the global enzymes market during the forecast period. 

Major Challenges - 

• The major challenge for the enzymes market is the safety concerns related to the use of enzymes.
• In normal circumstances, very few enzymes induce hazards to the users, especially due to their catalytic activity.
• Due to their chemical nature, such as allergenicity, residual microbiological activity, activity-related toxicity, and chemical toxicity, and their origin, there are multiple areas of possible increasing hazards. 
• However, once an immune response has been developed by an individual as a result of skin contact or inhalation of the enzyme, any kind of re-exposure produces severe responses with higher risk, which might turn fatal.
• The use of organisms that might act as hazardous sources involve the production of enzymes, which have been the focus of attention by regulatory authorities.
• Therefore such factors hinder the growth of the enzymes market during the forecast period.

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What are the key data covered in this Enzymes Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the enzymes market between 2022 and 2026
• Precise estimation of the enzymes market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the enzymes market across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the enzymes market vendors

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Table of contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market Definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• The threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• FB - Market size and forecast 2021-2026
• Household - Market size and forecast 2021-2026
• Bioenergy - Market size and forecast 2021-2026
• Feed - Market size and forecast 2021-2026
• Others - Market size and forecast 2021-2026
• Market opportunity by Application

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• APAC - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Advanced Enzyme Technologies Ltd.
• Amano Enzyme Inc.
• Associated British Foods Plc
• BASF SE
• Codexis Inc.
• DuPont de Nemours Inc.
• F. Hoffmann-La Roche Ltd.
• Koninklijke DSM NV
• Lonza Group Ltd.
• Novo Holdings AS

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research Methodology
• List of abbreviations

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