Technological Innovation and Diversification of Enzyme Applications
Enzymes are proteins that function as biological catalysts by accelerating chemical reactions. Enzymes are powerful tools that help to maintain a clean environment in many ways by creating eco-friendly products. They are also used in many technical applications such as laundering to remove stains and extend the life of fabrics, recycling paper and paper products to remove ink, and making dishwashing soaps and detergents. Enzymes are used in a wide variety of food and beverage processing, animal nutrition, textiles, household products, biofuels, other automotive fuels, cleaning agents, power plants, and more.
Moreover, rising demand for food and beverage products is attributed to growing health consciousness among consumers, which is expected to have a positive impact on product demand during the forecast period. Enzymes are extracted from different parts of animals such as calf stomachs, microorganisms and plant material. With the advent of advanced technology, product manufacturers can choose the hosts they need for production, such transgenic plants or microorganisms.
New technological applications of enzymes are being developed to improve production processes. Many companies in the textile industry are embracing the use of enzymes as an alternative to chemicals that induce mild reactions, resulting in clean, chemical-free clothing, has led to major developments that allow enzymes to function under varying temperatures and pH values. Companies are investing heavily in research and development, discovering new applications such as pulp bleaching and bio scrubbing. For example, in June 2019, DSM (Netherlands) introduced eBOOST GT and the new fiber transforming enzyme eBREAK 1000F. This is a low-glycerol yeast technology for the biofuel industry to combat pollution and increase the use of alternatives to conventional gasoline. The companies are also expanding their existing product portfolio of enzymes. For example, in April 2021, Biocatalysts launched a new enzyme, Promod 517MDP, aiming to expand the range of Kosher and Halal certified enzymes available for use in dairy applications.
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The global enzymes market size was reached at USD 12.76 billion in 2022 and it is projected to surpass around USD 20.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.57% during the forecast period 2022 to 2030. With the introduction of new technologies and unique properties of enzymes, different types of enzymes are used as medicines. These drugs bind specifically to their targets and possess unparalleled potential and advantages compared to common small molecule drugs. Widely used in the manufacture of medicines to treat a variety of dreaded diseases and other infectious diseases such as allergies, food poisoning, cyanide poisoning, gout, heart attack, inflammation, leukemia, viral and bacterial infections, plague formation. The North American region is the world's largest market for enzymes due to novel and powerful product development, developed technology, and global industrialization. The United States is the dominant country in the North American enzyme market.
The major players operating in the enzymes market are Aumgene Biosciences (India), Chr Hansen (Denmark), Creative Enzymes (US), Enzyme Solutions (US), Amano Enzymes (Japan), Roche Holding (Switzerland), and Codexis (US), BASF (Germany), DuPont (US), Associated British Foods (UK), and Advanced Enzymes Technologies (India).
In terms of product type, the global enzymes market is bifurcated industrial enzymes and specialty enzymes. In terms of type, the global enzymes market is bifurcated into carbohydrases, proteases, polymerases & nucleases, lipases, phytases, and others. In terms of source, the global enzymes market is bifurcated into microorganisms, plants, and animals.In terms of reaction type, the global enzymes market is bifurcated into hydrolase, oxidoreductase, transferase, lyase, and others. In terms of industrial application, the global enzymes market is bifurcated into food & beverages, bioethanol, textiles & leather, detergents, paper & pulp, wastewater treatment, feed, and others. In terms of specialty application, the global enzymes market is bifurcated into pharmaceuticals, research & biotechnology, diagnostics, and biocatalysts. By region, the global enzymes market is bifurcated into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa.
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