Market Size of Specialty Enzymes Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp "Specialty Enzymes Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
Specialty Enzymes Market Analysis
The Specialty Enzymes market is projected to witness a CAGR of 7.6% over the next five years.
Enzymes are proteins that exist in the body of all living organisms, including humans, that function as catalysts. On the other hand, enzymes are necessary substances for vital activities and help many of the complex and diverse activities in substance metabolism. Growing consumer health consciousness has increased consumption of functional food products, which is predicted to have a favorable impact on the demand for enzymes over the forecast period. In March 2021, International Flavors & Fragrances Inc. announced the launch of Enovera 3001 enzyme as the newest addition to its ingredients for the bakery industry range. The new enzyme offers a label-friendly formulation for strengthening the bakery dough without compromising on its texture and taste. Over the past 10 years, the demand for enzymes has increased due to the natural flavor and taste of food items as well as unique food products, which has led to market expansion. The product is used for a variety of purposes, including the clarity of fruit juice, brewing germination, making cheese, pre-digesting infant food, and tenderizing meat. Additionally, the imminent population boom, increased food quality, and greater consumer awareness of nutritional requirements are all expected to have a beneficial impact on market growth.
The market is witnessing rapid growth due to the increasing demand for processed food in the country and the wide applications of enzymes in the processed food industry. Moreover, innovation in food technology in the country and increasing awareness about better-quality products being manufactured by utilizing enzymes are further driving the market. For instance, DSM launched a new range of baking enzymes, specifically formulated for gluten-free applications, that improve the softness and moistness of bread. These enzymes are also used in further applications, such as corn tortillas, rye bread, and white bread. The rapid growth of India's food, beverage, and pharmaceutical industries has supported this expansion, and the demand for food enzymes is eventually expected to surpass the demand for industrial enzymes. The majority of these businesses either specialize in marketing or formulations of food enzymes. Moreover, the sports nutrition industry has been expanding at a rapid pace for the past few years due to increased health awareness and a high preference for an active lifestyle.
Specialty Enzymes Industry Segmentation
Food enzymes are protein molecules that are safe for ingestion and are utilized by the food industry throughout food production to increase the food's safety, quality, and process effectiveness.
The Specialty Enzymes Market is segmented by Source (Plant, Animal, and Microbial), Type (Carbohydrases, Proteases, Lipases, and Other Types), Application (Food and Beverage, Pharmaceuticals, Animal Nutrition, and Other Applications), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and values in (USD million) for the above segments.
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| Animal | |
| Microbial |
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| Carbohydrases | |
| Proteases | |
| Lipases | |
| Other Types |
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| Food & Beverage | |
| Pharmaceutical | |
| Animal Nutrition | |
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Specialty Enzymes Market Size Summary
The Specialty Enzymes market is experiencing significant growth, driven by increasing consumer health consciousness and the rising demand for functional foods. Enzymes, which act as catalysts in various biological processes, are becoming essential in the food industry for applications such as enhancing the flavor and texture of baked goods, improving the clarity of fruit juices, and aiding in the production of dairy products. The market is further bolstered by innovations in food technology, such as the development of gluten-free baking enzymes, which cater to the growing demand for specialized food products. The expansion of the food, beverage, and pharmaceutical industries, particularly in regions like North America and India, is also contributing to the market's growth. The demand for processed and convenience foods, driven by urbanization and changing lifestyle patterns, is increasing the need for enzyme applications in food processing and packaging.
North America holds a prominent position in the Specialty Enzymes market, with a strong focus on the food and feed industries. The region's market growth is fueled by the consumer preference for natural ingredients and organic additives, as well as the increasing consumption of premium processed food products. The market is characterized by intense competition among global and regional players, with companies like Kerry Group, Novozymes, Chr. Hansen, and DuPont leading the charge through strategic mergers, acquisitions, and product innovations. The ongoing trend towards naturally derived meals and the rising demand for dietary fibers and functional foods are expected to create lucrative opportunities for industry participants. As the market continues to expand, the focus on developing novel enzyme solutions and enhancing product offerings is likely to remain a key strategy for companies aiming to strengthen their market presence.
Specialty Enzymes Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Source
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2.1.1 Plant
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2.1.2 Animal
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2.1.3 Microbial
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2.2 By Type
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2.2.1 Carbohydrases
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2.2.2 Proteases
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2.2.3 Lipases
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2.2.4 Other Types
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2.3 By Application
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2.3.1 Food & Beverage
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2.3.2 Pharmaceutical
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2.3.3 Animal Nutrition
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2.3.4 Other Applications
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Spain
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2.4.2.2 United Kingdom
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2.4.2.3 Germany
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2.4.2.4 France
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2.4.2.5 Italy
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2.4.2.6 Russia
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2.4.2.7 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East and Africa
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2.4.5.1 South Africa
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2.4.5.2 United Arab Emirates
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2.4.5.3 Rest of Middle East and Africa
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Specialty Enzymes Market Size FAQs
What is the current Specialty Enzymes Market size?
The Specialty Enzymes Market is projected to register a CAGR of 7.60% during the forecast period (2024-2029)
Who are the key players in Specialty Enzymes Market?
Novozymes, Kerry Inc., Chr. Hansen Holding A/S, DuPont de Nemours, Inc. and Koninklijke DSM N.V. are the major companies operating in the Specialty Enzymes Market.
