Overview and Scope
Enzyme refers to a protein that almost usually serves as a biological catalyst. It accelerates a certain chemical reaction in the cell. It is a substance that serves as a catalyst in living things, controlling the speed at which chemical processes take place without undergoing any changes.
Sizing and Forecast
The enzymes market size has grown rapidly in recent years. It will grow from $11.78 billion in 2023 to $13.52 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to globalization and market expansion, research and development investments, consumer awareness and demand, bioprocessing technology improvements, waste reduction and recycling.
The enzymes market size is expected to see rapid growth in the next few years. It will grow to $22.86 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to market demand dynamics, focus on sustainable practices, health and nutrition trends, biofuel and renewable energy, emerging applications. Major trends in the forecast period include biotechnology advancements, sustainability demands, food and beverage industry demand, industrial applications expansion, consumer preference for natural products.
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Segmentation & Regional Insights
The enzymes market covered in this report is segmented –
1) By Product Type: Asparginase, Lipase, Protease, Nattokinase, Chitinase, Serratiopeptidase, Collagenase, Ligase, Other Products
2) By Application: Leukemia, Stomach Disorders, Antitumor, Skin Ulcers, Gaucher Disease, Fabry Disease, Other Applications
3) By End User: Drug Manufacturers, Hospitals, Private Clinics, Research Laboratories
North America was the largest region in the enzymes market in 2023. The regions covered in the enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in prevalence of digestive disorders is expected to propel the growth of the enzyme market going forward. Digestive disorders are a group of health conditions that affect the digestive system. Some common digestive disorders include gastroesophageal reflux disease (GERD), cancer, irritable bowel syndrome (IBS), lactose intolerance, hiatal hernia, and gallstones. Digestive enzymes help break down food into smaller molecules that can be absorbed by the body. For instance, in October 2022, according to the National Center for Biotechnology Information (NCBI), a US-based resource for the scientific research community, the prevalence of irritable bowel syndrome (IBS) ranges between 10% and 15% in the United States and nearly 12% of patients seek medical care in primary care practices for IBS-related complaints. Thus, the rise in prevalence of digestive disorders is driving the growth of the enzyme market.
Key Industry Players
Major companies operating in the enzymes market report are Ramboll Group A/S, Jacobs Engineering Group Inc., AECOM Technical Services Inc., ERM Group Limited, WSP Global Inc., SNC-Lavalin Group Inc., Wood PLC, Stantec Inc., Black & Veatch Corporation, Tetra Tech Inc., Arcadis NV, Mott MacDonald Group Ltd., GHD Group Limited, TRC Companies Inc., Form Technologies Inc., Golder Associates Ltd., Cardno Limited, CH2M HILL Engineers Inc., SLR Consulting Ltd., Weston Solutions Inc., IndustrySafe Inc., ECS Limited, Geosyntec Consultants LLC, Apex Companies Inc., GZA GeoEnvironmental Technologies Inc., Haley & Aldrich Inc., Intelex Corporation, iAuditor Inc., Metrix Software Solutions Inc., Lighthouse Systems Inc., SafetyTek Inc., Strategix Application Solutions LLC, Effivity Technologies LLC, SiteDocs Inc., SafetySync LLC, Qooling Systems Inc.
The enzymes market report table of contents includes:
1. Executive Summary
2. Enzymes Market Characteristics
3. Enzymes Market Trends And Strategies
4. Enzymes Market – Macro Economic Scenario
5. Global Enzymes Market Size and Growth
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31. Enzymes Market Other Major And Innovative Companies
32. Global Enzymes Market Competitive Benchmarking
33. Global Enzymes Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Enzymes Market
35. Enzymes Market Future Outlook and Potential Analysis
36.Appendix
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