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Enzymes Market To Enzymes Market To Reach USD 11.03 Reach USD 11.03 Billion By 2026 Billion By 2026
Market Market Summary Summary The global Enzymes market is forecasted to reach USD 11.03 Billion by 2026, according to a new report by Reports and Data. Enzyme market has gathered special attention in the past few years owing to its vast applications. They are utilized in food and animal feed, detergents and textiles, manufacturing industries, pharmaceuticals and biotechnology R&D, leathers and others. Applications of enzymes in the manufacturing process result in cost reduction due to less energy consumption, and better substrate activity. The growth of the enzyme market is mainly due to the high demand for effective enzymes based pharmaceuticals. Other driving forces include an increase in demand for renewable energy sources such as biofuels, wide applications of enzymes in various industries, and a rise in prevalence of various chronic diseases such as inflammation & digestive diseases. North America dominates the market, followed by Europe. Asia-Pacific has the highest growth rate throughout the forecast period, owing to the high prevalence of chronic disorders, increase in disposable incomes, an increase in awareness regarding enzymes based pharmaceuticals and protein engineering techniques. Read More: https://www.reportsanddata.com/report-detail/enzymes-market
Market Market Summary Summary Further key findings from the report suggest • Microorganisms have a market share of 37% in the year 2018 and are forecasted to hold a market share of 38% in the year 2026 with 5.8% annual growth rate throughout the forecast period. • Based on reaction type, the enzyme market is segmented into Hydrolase, Transferase, Oxidoreductase, Lyase, and Other Enzymes. • Hydrolase has the largest market share of 24% in the year 2018 and is forecasted to hold a market share of 25% in the year 2026 with an annual growth rate of 6.0% throughout the forecast period. • The U.S. is the major contributor in enzymes market owing to high demand in the food and beverage industry and a rising concern for health, coupled with a high preference for processed food will drive the market in this region. • North America will have the largest market share of 27% in the year 2018 and is forecasted to hold a market share of 28% in the year 2026 with an annual growth rate of 6.0% throughout the forecast period. • Key participants include AB Enzymes GmbH, Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., BASF SE (BASF Corporation), Codexis, Inc., DowDuPont Inc., F. Hoffmann-La Roche Ltd., Koninklijke DSM N.V., Novozymes A/S, and Thermo Fisher Scientific Inc. (Affymetrix, Inc.) among others.
Market Market Summary Summary Type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026) Protease Carbohydrase Lipase Polymerases and Nucleases Other Types • • • • • • Source Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026) Microorganisms Plants Animals • • • • Reaction Type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026) Hydrolase Oxidoreductase Transferase Lyase Other Enzymes • • • • • •
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