New York, 4 Nov
2019 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. In 2017, the carbohydrase segment dominated the global market, in terms
of revenue. North America is expected to be the leading contributor to the
global market revenue during the forecast period.
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
Polaris
Market Research is a global market research and consulting company. The company
specializes in providing exceptional market intelligence and in-depth business
research services for our clientele spread across different enterprises. We at
Polaris are obliged to serve our diverse customer base present across the
industries of healthcare, technology, semi-conductors and chemicals among
various other industries present around the world
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