The enzymes market was valued at USD 10.0 billion in 2019 and is projected to reach USD 14.7 billion by 2025, recording a CAGR of 6.7% during the forecast period. The demand for enzymes is increasing significantly, as it is being used across various industries and as a substitute for chemicals.
Key players in this market include BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies
(India), Aumgene Biosciences (India), Chr Hansen (Denmark), Amano Enzymes (Japan), Roche Holding (Switzerland), Codexis (US), Sanofi (France), and Merck (Germany) .
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Novozymes (Denmark) is a major bio-innovation company providing biological solutions, which involves the application of enzymes and microbes. The company offers various products, which cater to industries, such as household care, food & beverage, bioenergy, agriculture & feed, and technical & pharma. The company also offers products for bioenergy, which converts plant materials and waste into biofuels. Novozymes has been introducing new products for making its product portfolio diverse. In addition, the company is focused on expanding its global presence to prosper in the enzymes market. The company has been catering to all the major regions, such as North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. It focuses on innovation activities to identify new opportunities in the enzymes market.
BASF (Germany) is a global chemical manufacturing company and specializes in catering to segments, such as chemicals, performance products, functional materials & solutions, agricultural solutions, and others. Along with this, the company has been investing mainly in biotechnology and large-scale production of enzymes. The strategies that are being adopted by BASF to be a market leader in the enzymes market are collaborations and expansions. In addition, to make its product portfolio diverse, the company has been focusing on launching new products. BASF has three global research divisions, which are operated from Europe, Asia Pacific, and North America. The company has its presence across the globe in regions, such as North America, Europe, Asia Pacific, South America, and Africa.
Enzymes Market by Product Type (Industrial enzymes and Specialty enzymes), Source (Microorganism, Plant, and Animal), Type, Industrial Enzyme Application, Specialty Enzymes Application, and Region – Global Forecast to 2025
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