Increasing need for petrochemical alternative followed by eco-friendly and cost effective benefits of technical enzymes is expected to provide potential opportunities over the coming years.
The global technical enzyme market size was valued at >USD 1,200 million in 2019. In addition, it is projected to gather a CAGR of above 4% over the forecast years 2020-2028. Increasing demand for amylases and proteases in food & beverage application, specifically in emerging economies such as China, India, Brazil, and Southeast Asia is expected to drive technical enzyme market over the forecast period. Moreover, increasing industrialization followed by well-developed pharmaceutical and nutraceutical industry is expected to open new opportunities for technical enzymes industry in North America and Europe.
The report also outlines the various characteristics of the global technical enzymes industry by assessing the market from porter’s five forces analysis, PESTEL analysis, and value chain analysis. Moreover, the technical enzymes market report comprises various qualitative parts such as market restraints, important market drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global companies.
The technical enzymes market has solid competition amongst the already well-known and new market players. Also, the technical enzymes industry players are pursuing possible markets to seize a competitive advantage among the other manufacturers operating in this industry by forming mergers & acquisitions, agreements, acquiring other companies, establishing collaboration & partnerships, and growing their business existence. For instance, in March 2018, Brain AG, a German industrial biotechnology company acquired specialty enzyme producer Biocatalysts. This acquisition is expected to strengthen Brain AG’s market concentration in bio industrial segment.
North America dominated technical enzymes market in 2019. Presence of well-established food & beverage manufacturers followed by recovery in pulp & paper industry over the past few years is expected to increase demand for technical enzymes over the coming years. Europe accounted for second largest market share in technical enzymes market in 2019. Major producers of pharmaceutical products, cosmetics, and nutraceutical products is expected to drive the market.
The major players of the global technical enzymes market are BASF, Dupont, ABF, Novozymes, DSM, Dyadic International, Advanced Enzymes Technologies, Maps Enzymes, Epygen Labs, and Megazyme. Moreover, the market comprises several other prominent players in the technical enzymes market that are Aumgene Biosciences, Enzymatic Deinking Technologies, TEX Biosciences, Denykem, Metgen, Creative Enzymes, Sunson Industry Group, Transbiodiesel, Enzyme Supplies, and Enzyme Solutions. The technical enzymes market consists of well-established global as well as local players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Key Segments of the Global Technical Enzymes Market
Source Overview, 2018-2028 (USD Million)
Application Overview, 2018-2028 (USD Million)
- Textiles & Leather
- Paper & Pulp
Product Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America