Market Research Report
Americas Enzymes Market Size, Share & Trends Analysis Report By Source (Plants, Animals, Microorganisms), By Product (Carbohydrase, Proteases, Lipases), By Application, And Segment Forecasts, 2021 - 2028
|Americas Enzymes Market Size, Share & Trends Analysis Report By Source (Plants, Animals, Microorganisms), By Product (Carbohydrase, Proteases, Lipases), By Application, And Segment Forecasts, 2021 - 2028|
Published: April 7, 2021
Grand View Research, Inc.
Content info: 126 Pages
Delivery time: 2-10 business days
The Americas enzymes market size is expected to reach USD 8.62 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.1% from 2021 to 2028. The growth can be attributed to the rising demand for proteases and carbohydrase in food and beverage applications in the North American region, especially in the U.S. The increasing demand for specialty enzymes in numerous applications, such as diagnostics, pharmaceutical, research, and biotechnology, is anticipated to trigger market growth in the near future. Furthermore, the growing awareness about the application of enzymes in protein engineering technology and high opportunities in emerging economies are anticipated to positively impact the market demand.
With the emergence of technologies such as genetic engineering, key manufacturers have a choice of producing the required amounts of enzymes in specific production hosts such as transgenic plants and microorganisms. The market players are inclined toward backward integration by using suitable microorganisms including fungi, yeast, and bacteria to produce enzymes and further utilize the same for production on a commercial scale.
Carbohydrase is widely used as a catalyst to convert carbohydrates into sugar syrup, including glucose and fructose, in the pharmaceutical and food and beverage sectors. The growing use of carbohydrase as an ingredient and a processing aid in sugar production is expected to augment the segment growth over the forecast period. Enzymes play a significant role in developing healthy food and beverage products. Rising consumer preference for a nutritional diet, along with encouraging government initiatives for promoting industrial growth in emerging economies, such as Brazil, is expected to positively impact the growth of the food and beverage sector.
North America emerged as the prominent regional market for enzymes in 2020 due to a strong presence of key end-use industries, including personal care and cosmetics, pharmaceuticals, laundry detergent, and food and beverage, along with a wide scope for research & development activities in the major countries of the region. The demand for specialty enzymes in the U.S. is expected to be driven by the presence of prominent participants of the pharmaceutical sector, such as Pfizer, Inc., Amgen, Inc., and Merck KGaA, in the country.
The market is oligopolistic owing to the presence of key companies, such as Novozymes, DSM, and DuPont, dominating the market. Enzyme manufacturers are focusing on improving their enzyme solutions and enhancing their manufacturing capabilities to distinguish products and gain greater market shares. The market players distribute their products via different modes of channels, such as third-party supply agreements, online portals, and direct supply. The market players are focusing on expanding their manufacturing units and production capacities, thereby expected to benefit the production level of enzymes over the forecast period.