San Francisco, 22 June 2020: The Report Enzymes Market Size, Share & Trends Analysis Report By Application (Industrial Enzymes, Specialty Enzymes), By Product (Carbohydrase, Proteases, Lipases), By Source, By Region, And Segment Forecasts, 2020 – 2027
The global enzymes market size is expected to reach USD 17.2 billion by 2027, registering a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for enzymes from the food and beverage industry, especially for the production of brewing and bakery products is one of the key factors driving the market growth.
Pandemic has led to a decline in demand in the market. Also, it caused disruptions in the supply chain globally. Apart from this, demand from the biotechnology sector for enzymes has kept the market buzzing. Growing healh concerns in the time of pandemic is expected to attract more people to the functional foods.
Pre COVID-19 Factors
- Growth of Protein engineering in the market is supposed to give push to the demands, as several enzymes are needed to carry out catalytic reactions that do not occur naturally.
- Demand from various sectors like paper processing, biofuels, contact lens cleaners, rubber processing, biological detergents, and molecular biology, among others, is one of the topmost reasons for the rise in growth of the market.
Access Research Report of Enzymes Market @ https://www.grandviewresearch.com/industry-analysis/enzymes-industry
Some Recent Developments in Enzymes Market
- In 2019, Denmark-based enzyme producer Novozymes is working towards developing enzymes which are biodegradable. These enzymes will help reduce the use of chemicals in detergents. The firm’s R&D centre in Bengaluru is targeting to come out with more environment-friendly detergent-enzyme prototypes to provide laundry solutions that would replace chemicals by 2022.
- In 2019, DSM launches its latest breakthrough innovation Balancius in the EU at the 22nd European Symposium in Poultry Nutrition (ESPN 2019)
Balancius is the first and only feed ingredient that breaks down peptidoglycans (PGNs) in bacterial cell debris, thus releasing nutrients and unlocking a hidden potential in gastrointestinal functionality. It significantly improves nutrient digestibility and absorption capacity, consistently improves feed conversion ratio by 4–6 points (3%), thus contributing to sustainable poultry production, improves breast meat yield, contributes to better animal welfare through dryer litter.
- In Jan 2020, Carbios enters joint development agreement with Novozymes to produce its proprietary enzyme for complete recycling of pet-plastics and fibers
This agreement secures the production of Carbios’ proprietary PET-degrading enzymes at both a demonstration level and an industrial scale. The agreement also represents a critical step for Carbios in demonstrating the positive environmental impact of its technology and ensures it can provide its future customers with a sustainable solution for the infinite recycling of PET-based products, such as water and soda bottles, plastic packaging and textiles.
- In 2020, IFF to Merge with DuPont’s Nutrition & Biosciences Business
The combination of IFF and N&B creates a global leader in high-value ingredients and solutions for global Food & Beverage, Home & Personal Care and Health & Wellness markets. This bodes well for the market.
Access Press Release of Enzymes Market @ https://www.grandviewresearch.com/press-release/global-enzymes-market
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