Enzymes Market is Expected to Grow at a CAGR of 6.5% through 2031 | SkyQuest Technology
Westford, US, Oct. 16, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Enzymes market will attain a value of USD 20.31 billion by 2031, with a CAGR of 6.5% over the forecast period (2024-2031). The extensive use of enzymes in multiple industry verticals and the growing demand for functional foods and beverages are projected to drive the demand for enzymes in the coming years. Growing emphasis on preventive healthcare and rising consumption of nutritional supplements and nutraceuticals are also expected to promote enzymes market growth in the future.
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Browse in-depth TOC on "Enzymes Market" Pages – 197, Tables – 95, Figures – 76.5
Enzymes Market Report Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $12.28 billion |
| Estimated Value by 2031 | $20.31 billion |
| Growth Rate | Poised to grow at a CAGR of 6.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information/product portfolio of players |
| Key Market Opportunities | Use as alternatives to chemical products |
| Key Market Drivers | Rising demand for nutritional food products |
Carbohydrase Enzymes Account for Prominent Market Share
Growing demand for better nutrient absorption around the world and rising incidence of digestive disorders are expected to primarily drive up the demand for carbohydrase enzymes in the future. The rising use of carbohydrase enzymes in animal feed production is also contributing to the dominance of this segment. High demand for digestive foods and beverages will also help this segment bring in more revenue than others going forward.
Use of Enzymes in Sports Nutrition to Increase Impressively Over Next Decade
Increasing health consciousness among people around the world and rising participation in sports events are driving up the demand for sports nutrition around the world. The extensive use of various enzymes in the preparation and formulation of novel sports nutrition products is expected to create new opportunities for market growth over the coming years.
High Spending Potential of Consumers Helps North America Lead
Consumers in the North American region are more willing to spend on nutrition and health products as health consciousness and incidence of lifestyle disorders rise. Growing popularity and awareness regarding the benefits of functional foods and rising consumption of nutraceuticals and dietary supplements are also slated to create new opportunities for enzymes providers in the future. Canada and the United States are slated to lead the demand for enzymes in this region.
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Enzymes Market Insights:
Drivers
- Growing health consciousness among people
- Increasing demand for functional foods and beverages
- Rising prevalence of digestive disorders
Restraints
- Sensitivity to temperature and other external factors raises handling issues
- Stringent regulatory requirements
Prominent Players in Enzymes Market
- Novozymes
- DSM
- BASF SE
- DowDuPont Inc.
- Chr. Hansen Holding A/S
- Kerry Group plc
- Roche Holding AG
- Amano Enzyme Inc.
- Advanced Enzyme Technologies Ltd.
- AB Enzymes GmbH
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Key Questions Answered in Enzymes Market Report
- What drives the global market growth?
- Who are the leading Enzymes providers in the world?
- Which region leads the demand for Enzymes in the world?
This report provides the following insights:
Analysis of key drivers (rising health consciousness among people, high prevalence of digestive disorders, growing demand for functional foods and beverages), restraints (sensitivity to temperature and other environmental factors, strict regulatory requirements), and opportunities (use of enzymes as alternatives to chemicals), influencing the growth of Enzymes market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Enzymes market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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