Kenneth Research recently added a report on the Global Enzymes Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Enzymes Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Enzymes Market is valued approximately USD 9.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2020-2027. Enzymes are proteins that acts as a catalyst in all living organisms such as animals, plants, humans and microorganisms. They serve as compounds that increase chemical reactions in biological systems. The increasing demand for high quality food products, paper processing, biofuels, rubber processing, molecular biology and others is expected to fuel the growth in the market along with increasing investments in research and biotechnology by prominent market players. For Instance: in 2020, Chr. Hansen Holding A/S acquires Jennewein Biotechnologie GmbH for the expanding and strengthening its microbial and fermentation technology platforms. However, regulatory scenarios and regional jurisdiction is expected to impede the growth of the market over the forecast period of 2022-2031. Also, with the growing awareness concerning the application of enzymes in protein engineering technology is likely to increase the market growth during the forecast period.
The regional analysis of global Enzymes market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to inclination toward reducing greenhouse emissions and promoting the production of biofuels. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing consumption of animal feed, detergent, food and beverages products in the region would create lucrative growth prospects for the Enzymes market across Asia-Pacific region.
Major market player included in this report are:
- BASF SE
- DuPont Danisco
- Novozymes A/S
- DSM N.V.
- Novus International
- Associated British Foods plc
- Chr. Hansen Holding A/S
- Advanced Enzyme Technologies
- Lesaffre Group
- BBI Solutions
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
- Industrial Enzymes
- Specialty Enzymes
- Polymerases & Nucleases
- By Source:
- North America
- South Korea
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2017, 2018
- Base year – 2019
- Forecast period – 2022 to 2031
Target Audience of the Global Enzymes Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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