New York City, 02 March 2020: According to a new report published by Polaris Market Research the enzymes
market is anticipated to reach over USD 21,760.9 million by
2026
The diverse
applications of enzymes in industries such as healthcare, food and beverages,
pharmaceutical, personal care, textile, and animal feed among others is
expected to support the growth of this market. Other driving factors include
introduction of genetically-engineered enzymes, and stringent government
regulations regarding use of chemicals. Increasing demand from developing
nations, use of enzymes as alternatives for synthetic chemicals, and
technological advancements are expected provide numerous growth opportunities
to the market players during the forecast period.
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Enzymes are used in a
wide range of applications in medical and healthcare sector. Enzymes are used
in diagnosis of diseases, drug manufacturing, cleaning wounds, assisting in
healing processes, and analytical testing for disease detection among others.
In the food industry enzymes are used in fruit juices, alcohol, baked goods,
and preserved food among others.
North America generated the highest revenue in the market in 2017,
and is expected to lead the global market throughout the forecast period. The
presence of well-established industries such as healthcare, pharmaceutical, and
food & beverages, substantial initiatives in research and development, and
favorable government policies drive the market growth. Asia-Pacific is expected
to grow at the highest CAGR during the forecast period owing to increasing
adoption of enzymes in food and beverages, and consumer goods.
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The different
applications of enzymes include food and beverages, cosmetics and personal
care, textile, animal feed, paper and pulp, medical & pharmaceutical, and
others. In 2017, the food and beverage accounted for the highest market share.
The increasing need to offer high quality and good tasting processed food has
resulted in the growth of enzymes in this sector. Enzymes are used in baked
goods for regulating the rate of chemical reactions in baking processes. The
rising demand of nutritional diet, and favorable government regulations are
expected to support market growth during the forecast period.
The
well-known companies profiled in the report include AB Enzymes, BBI Enzymes Ltd., Advanced Enzyme Technology Ltd.,
Roche Holding AG, Sanofi S.A., BASF SE, DuPont, Novus International Inc.,
Novozymes A/S, Associated British Foods PLC, CHR Hansen Holding A/S, and
Danisco A/S among others. These companies launch new products and collaborate
with other market leaders to innovate and launch new products to meet the
increasing needs and requirements of consumers.
About Polaris Market Research
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company. The company specializes in providing exceptional market intelligence
and in-depth business research services for our clientele spread across
different enterprises.
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