Enzymes Market – Industry Trends, Outlook, Regulatory Bodies & Regulations and Key Market Players
Enzymes are molecular catalysts that accelerate chemical reactions to produce the desired end-result. Enzymes include most proteins and RNA molecules. Enzyme activity can be regulated by activators and inhibitors, which help increase and decrease the activity of enzymes, respectively. 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 an energy source. Isomerases activate the restructuring of chemicals within a particular molecule. Oxidoreductases help in oxidation reduction, a process in which a specific atom donates its electron to a different atom, while transferases help in the transfer of chemical groups from one substance to another.
Digestive enzymes such as amylase, gelatinase, and lipase have the ability to convert food into usable compounds. Metabolic enzymes including acetyl coenzymes A and Phosphoglycerate Dehydrogenase are generated in the body and help in the optimal functioning of organs and tissues, while also regulating blood flow. Food enzymes such as lactase, lipase, and protease are 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 industry is expected to drive growth of the global enzymes market over the forecast period (2016 – 2024).
Enzymes are widely used in the manufacturing of biofuels, paper, starch, dairy products, biological detergents, while they are also used in molecular biology and in the food processing and brewing industries, among others.
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 large end-use industries such as food and pharmaceuticals 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 in the enzymes market due to the growing population, which stirs the demand for food and pharmaceuticals, and the increasing inclination towards functional food among the populace.
Enzymes Market Outlook – Consumer Preference towards Functional Food to Drive Market Growth
Special health attributes of consuming functional food such as reduced risk of chronic diseases.
Growing health concerns due to the increasing sedentary lifestyle among the populace, has led to a greater emphasis on creating and perpetuating healthcare awareness by various government and private organizations. This, in turn, has resulted in consumer awareness of the reduced disease risk attributes of functional foods, thus increasing the demand for it. These factors are expected to drive growth of 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 instance, 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 also improve 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 exhibit at a CAGR of over 15% over the forecast period.
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Skin allergies triggered by detergents containing enzymes, coupled with high costs associated with the safe handling of enzymes act as barriers for growth of the global enzymes market. Enzymes used in detergents such as sodium tripolyphosphate, sodium alkane carboxylates, and bacillus protease reportedly cause skin and eye infections. Key players operating 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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