PUBLISHER: The Business Research Company | PRODUCT CODE: 1426255
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426255
Specialty enzymes denote proteins known for their precise catalytic abilities, accelerating reactions to produce specific molecules used in medicinal applications. They play a vital role across diverse treatments and functions, primarily aiding modification, reducing viscosity to streamline processes, and facilitating cell attachment and detachment, thereby bolstering productivity.
The key segments within the specialty enzymes market encompass carbohydrates, proteases, lipases, polymerases & nucleases, oxidases and hydratases, alongside other enzyme types. Carbohydrases, like amylase, are part of this category, supporting the breakdown or synthesis of carbohydrates. These enzymes are sourced from microorganisms, animals, and plants, finding extensive applications in pharmaceuticals, diagnostics, biotechnology, research, food and beverage, animal nutrition, and other sectors.
The specialty enzymes market research report is one of a series of new reports from The Business Research Company that provides specialty enzymes market statistics, including specialty enzymes industry global market size, regional shares, competitors with a specialty enzymes market share, detailed specialty enzymes market segments, market trends and opportunities, and any further data you may need to thrive in the specialty enzymes industry. This specialty enzymes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The specialty enzymes market size has grown strongly in recent years. It will grow from $6.39 billion in 2023 to $6.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. During the historic period, growth can be attributed to several factors including the prevalence of chronic diseases, an increasing demand for biofuels and bio-based products, expansion within the food and beverage industry, and a rising market for sustainable and environmentally friendly products.
The specialty enzymes market size is expected to see strongly grown in the next few years. It will grow to $8.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. In the forecast period, growth is expected to be fueled by the expansion of biopharmaceuticals, a heightened focus on renewable energy sources, advancements in agricultural and crop sciences, increased research and development efforts in specialty enzymes, a growing consumer emphasis on health and wellness, and the continued expansion of pharmaceutical and healthcare sectors. Key trends anticipated during this period encompass the customization of enzymes, utilization of microbial sourcing, advancements in enzyme engineering, the integration of digitalization and automation, the adoption of green chemistry practices, and continued emphasis on microbial sourcing.
Increased investment in biotechnology research and development is poised to fuel market expansion in the forecasted period. Specialty enzymes, integral to molecular biology in biotech research, will experience heightened demand owing to escalating investments and the burgeoning count of biotech research companies. A report by the US Congressional Budget Office in April 2021 projected global pharmaceutical investments in research and development to reach $83 billion, augmenting the presence of biotech research firms. This surge in investment is anticipated to significantly amplify the specialty enzymes market.
Anticipated growth in the specialty enzymes market is attributed to heightened demand from the food and beverage industry. These enzymes play a pivotal role in enhancing flavors, refining textures, and aiding intricate biochemical processes in food and beverage production. Notably, data from the Food and Drink Federation in 2023 indicated a notable 31% surge in food and drink exports in 2022 compared to the previous year. Moreover, the industry in Scotland achieved a substantial turnover of $10.84 billion (£10.3 billion) in 2022, contributing 33% to the total manufacturing output. This burgeoning demand within the food and beverage sector is a significant driver propelling the specialty enzymes market.
Technological advancements offer promising avenues for more efficient specialty enzyme production. Overcoming challenges such as pH maintenance complexity, high operational temperatures, and significant maintenance costs, technological advancements pave the way for enhanced enzyme products. Notably, International Flavors and Fragrances Inc. launched Enovera 3001 in March 2021, a specialized dough strengthener capable of substituting vital wheat gluten, particularly in challenging applications like whole wheat bread. This enzyme technology not only matches or surpasses traditional emulsifiers but also minimizes reliance on compensatory aids for inconsistencies.
Key industry players are focused on pioneering innovative enzymes, including non-GMO varieties, to gain a competitive edge. Non-GMO specialty enzymes, utilized in biotechnological processes without genetic modification, are gaining prominence. Amano Enzyme Inc. introduced Umamizyme Pulse in March 2021, a non-GMO enzyme explicitly crafted to elevate the savory taste of plant-based proteins and enhance the flavor of meat substitutes. With applications across various plant protein products, this enzyme promises a delightful, umami-rich experience.
In May 2021, BRAIN AG, a German industrial biotechnology company specializing in innovative solutions for the chemistry, cosmetics, and food industries, acquired additional shares in Biocatalysts Ltd. for $5.51 million (equivalent to GBP 3.9 million). This strategic investment bolsters BRAIN's BioIndustrial segment, expanding its commercial prospects by leveraging Biocatalysts' technology and product portfolio. The acquisition grants BRAIN access to Biocatalysts' MetXtra metagenomic library, complementing BRAIN's unique BioArchive. Biocatalysts Ltd., based in the UK, is recognized for its specialty enzyme manufacturing and technology, emphasizing cost-effective development of novel enzymes through innovative approaches.
Major companies operating in the specialty enzymes market include BASF SE, Novozymes A/S, Roche Holding AG, Codexis Inc., Specialty Enzymes & Probiotics, Advanced Enzyme Technologies Ltd., BBI Solutions, E. I. du Pont de Nemours and Company, Sanofi, Amano Enzyme Inc., Nagase & Co. Ltd., Affymetrix Inc., Biocatalysts Ltd., Life Technologies Corporation, Amicogen Inc., AB Enzymes, Dyadic International Inc., Chr. Hansen Holding A/S, Merck KGaA, Biovet Private Limited., Antozyme Biotech, Kerry Inc., Thermo Fisher Scientific Inc., Koninklijke DSM N.V., Aum Enzymes, Ultra Bio-Logics Inc., Aumgene Biosciences, The Soufflet Group, Shandong Longda Bio-Products Co. Ltd., Enzyme Development Corporation, International Flavors and Fragrances Inc., Enzyme Supplies Ltd., Alphazyme LLC, Enzyme Innovation inc., Creative Enzymes, Enzyme Solutions Inc., EnzymeWorks Inc., Enzyme Technologies Corporation, Enzyme Research Labs Inc., Enzyme Systems Products, Enzyme Bioscience Pvt. Ltd.
North America was the largest region in the viral specialty enzymes market in 2023. Middle East is expected to be the fastest growing region in the specialty enzymes market report during the forecast period. The regions covered in the specialty enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the specialty enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The specialty enzymes market consists of sales of acylases, hydratases, humulin oxidase, and lyases. Values in this market are ''factory gate values,'' that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Specialty Enzymes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on specialty enzymes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for specialty enzymes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The specialty enzymes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.