Enzymes are molecular catalysts that accelerates chemical reactions. The molecules in a specific chemical reaction with which the enzymes act are called substrates and the resultant molecules of the reaction is called products. The majority of enzymes are proteins and a few are RNA molecules. The enzyme activity can be regulated by activators and inhibitors. Activators increase the enzyme activity; whereas an inhibitor decreases a specific enzyme activity. Among product types, Lyases help in catalyzing the structural formation of bonds within an atomic structure by adding or removing chemical groups. The ligases can catalyze the bonding between different substrates with the help of energy source. Isomerases activate the restructuring of chemicals within a particular molecule. Oxidoreductases help in oxidation reduction, which is a process where a specific atom gives away its electron to a different atom. Transferases help in moving the chemical groups from one substance to another.
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Digestive enzymes such as amylase, gelatinase and lipase among others can convert food into usable compounds. Metabolic enzymes including acetyl coenzymes A and Phosphoglycerate Dehydrogenase among others gets generated in the body and helps in blood flow and proper tissue and organ functioning. Food enzymes such as lactase, lipase and protease among others can be extracted from milk, sugar, oil, meat and nuts among others.
Factors including growing demand for specialty enzymes, blooming pharmaceutical industry and focus on increased production in every end use industries is anticipated to drive growth of the global enzymes market over the forecast period (2016 – 2024).
Enzymes Market Taxonomy
On the basis of source, the global market is classified into:
On the basis of product type, the global market is classified into:
On the basis of application, the global market is classified into:
- Digestive Enzymes
- Metabolic Enzymes
- Cleaning Enzymes
On the basis of end-use industry, the global market is classified into:
- Food and Beverages
- Biofuel and Gas
- Paper and Pulp
On the basis of geography, the global market is classified into:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East
- GCC Countries
- Rest of Middle East
- Northern Africa
- Central Africa
- South Africa
Europe, followed by North America is expected to lead the global enzymes market over the forecast period, owing to high demand for functional food and presence of a large end use industries in these developed regions. However, rampant economic growth in emerging economies of India and China along with burgeoning growth of various end-use industries in Asia Pacific are expected to position the region as the fastest growing region in the global enzymes market over the forecast period. Asia Pacific is expected to be the most lucrative region for the enzymes market mostly due to a growing base for pharmaceutical industry and the increasing preference towards functional food among the populace.
Enzymes Market Outlook – Consumer Preference towards Functional Food to Drive Market Growth
With the specific health attributes that the functional foods provide coupled with growing health awareness is expected to drive the enzymes market over the forecast period. Enzymes are used to manufacture functional foods. Enzymes such as protease, lipase amylase and cellulose are used in functional foods to enhance its functional attributes, including enhanced digestion, anti-oxidation, decreased cell aging, and nutrient properties. For example, in order to lower cholesterol count, omega 3 fatty acids and probiotic yogurts are used as functional foods. Many scientists and researchers claim that omega 3 fatty acids can also help in better brain functioning. According to a study conducted by Coherent Market Insights, the global functional food market is estimated to reach US$ 65 billion by 2024 and is estimated to expand at a CAGR of over 15% over the forecast period.
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Detergents containing enzymes may trigger skin allergies. Moreover, high cost of handling enzymes act as barriers for growth of the global enzymes market. There are reported cases of enzymes (sodium tripolyphosphate, sodium alkane carboxylates, bacillus protease) that are used in detergents causing skin and eye infections.
Key players in the global enzymes market include Sanofi S.A., BASF, Roche Holding AG, BBI Enzymes Ltd., Codexis Inc., Affymetrix Inc. and AB Enzymes.
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