Enzymes Market Size To Reach $20.31 Billion By 2030

Enzymes Market Size To Reach $20.31 Billion By 2030 | CAGR: 4.9%

Posted 2024-01-30 12:48:29

Enzymes Market Growth & Trends

The global enzymes market size was estimated at USD 20.31 billion in 2030 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. The rising consumption of products on the account of the increasing awareness regarding an individual’s health is likely to positively influence the product demand over the forecast period.

Carbohydrase is bifurcated as cellulose, amylase, pectinase, xylanase, and lactase. It is widely used as an ingredient in the formulation of carbonated drinks. The growing usage of different kinds of carbohydrases in the animal feed and pharmaceutical industry is further projected to boost the overall industry demand in the coming years.

In North America, the U.S. is dominating the market for enzymes across the region on the account of the changing consumer preferences and rising demand for organic and nutritional food items from the food & beverage industry. Furthermore, the escalating market growth from the pharmaceutical and nutraceutical industry is anticipated to fuel the industry growth over the forecast period.

The market is an oligopolistic market with major players dominating the marketspace such as DSM, Novozymes, and DuPont Danisco among others. There is a significant rise in the demand for high-quality specialty enzymes across the globe. Thus, raw material distributors and manufacturers are witnessing a spike in lucrative opportunities to offer uniform and superior quality products via a systematic supply chain network.

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Enzymes Market Report Highlights

Food & Beverages segment accounted for more than 22.9% in 2022of the industrial type share due to the rising usage of enzymes in bakery and functional food products
Industrial emerged as the largest type segment in 2022 and is estimated to generate revenue of over USD 11.42 billion by 2030
Microorganisms emerged as the largest source segment in 2022 and are estimated to generate revenue over USD 17.47 billion by 2030
North America is projected to witness the fastest growth rate of 6.6% from 2023 to 2030 due to the rising R&D activities across the developed countries coupled with the presence of numerous end-use application manufacturers in the pharmaceuticals, food & beverage, and personal care & cosmetics sector
Pharmaceutical emerged as the largest specialty type segment with a revenue share of 40.6% in 2022, due to the increasing usage of the product in different applications including wound healing, diagnosing diseases, and killing disease-causing bacteria

Enzymes Market Segmentation

Grand View Research has segmented the global enzymes market report based on type, product, source, and region

Enzymes Type Outlook (Revenue, USD Million, 2018 - 2030)

Industrial Enzymes
- Food & Beverages
  - Meat Processing
  - Dairy Products
  - Beverages
  - Bakery & Confectionery
  - Other Food Products
- Detergents
- Animal Feed
  - Ruminants
  - Swine
  - Poultry
  - Aquafeed
  - Others
- Biofuels
- Textiles
- Pulp & Paper
- Nutraceutical
- Personal Care & Cosmetics
- Wastewater
- Others
Specialty Enzymes
- Pharmaceutical
- Research & Biotechnology
- Diagnostics
- Biocatalyst