January 18, 2017
Wellesley, Mass., Jan 18, 2017 – The enzyme industry has experienced significant clinical growth due to the global growing demand for cleaner and greener technology. BCC Research reveals in its new report that because enzymes are biodegradable and cost-effective, enzymatic processes are quickly becoming alternatives to chemical processes.
Enzymes are complex protein molecules produced by living organisms. Enzyme technology uses isolated and purified enzymes as catalysts in various industrial processes.
The global market for industrial enzymes is expected to grow from nearly $5.0 billion in 2016 to $6.3 billion in 2021, demonstrating a five-year compound annual growth rate (CAGR) of 4.7%. Food industrial enzyme as a segment should reach nearly $1.5 billion and $1.9 billion in 2016 and 2021, respectively, growing at a five-year CAGR of 4.7%. Animal feed industrial enzyme as a segment is expected to total $1.2 billion and nearly $1.6 billion in 2016 and 2021, respectively, growing at a five-year CAGR of 5.2%.
Because enzymes are biodegradable by nature and are cost-effective, enzymatic processes are rapidly becoming better economic and ecological alternatives to chemical processes Globalization and the increase in research and development within the enzyme market are driving forces that are causing the market to rise.
An increasing population and a global need for cleaner and greener alternatives also are driving the market, further augmenting the demand for enzymes. Enzymes have revolutionized the research approach for various conditions and have paved the way for a new class of drugs that allow for highly specific treatment, prevention, and control of many injuries and diseases. In addition, biotechnological advances have led to the replacement of harsh chemicals by biodegradable enzymes in various industrial processes.
Enzyme-based processes are gradually replacing chemical processes in many areas of industry. Enzymes provide advantages such as higher product quality, lower manufacturing cost, less waste, and reduced energy consumption. Key market drivers include new enzyme technologies, surging demand from the food industry and from producers of animal feed, and increased need for more renewable sources of energy like cellulosic bioethanol.
"Enzyme engineering has led to development of more efficient enzymes with new or desirable functions," says BCC Research analyst Shalini S. Dewan. "For example, protein engineering has revolutionized the development of commercially available enzymes into better industrial catalysts, which include site-directed mutagenesis, modification of proteases into peptide ligases, and production of artificial synthetic enzymes."
Global Markets for Enzymes in Industrial Applications (BIO030J) analyzes industrial enzyme applications, with emphasis on technical enzymes and those used in the food and beverage industry. The report also discusses merger, acquisition, and collaboration strategies as well as the competitive landscape and structure of the industry. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
Global Markets for Enzymes in Industrial Applications( BIO030J )
Publish Date: Dec 2016
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.