Increasing global population and changing lifestyle trends has increased demand for processed food products which is expected to positively impact the enzymes market over the forecast period. Growing application scope in animal feed industry is further estimated to augment demand for enzymes over the forecast period. Global enzymes market is expected to be reach a value of over USD 7 million by 2020, growing at a CAGR at over 8% from 2014 to 2020.
Enzymes have gained prominence in the food and beverage industry primarily due to the need for superior food quality and high reaction specificity. Food enzymes such as lipase, protease and carbohydrase have softening, digestive and anti-stalling properties, which increase the shelf life of products. Enzymes are also used in detergents; small amount of enzyme can act on many substrate molecules and can provide superior cleaning benefits to consumers. Detergents application segment accounted for over 900 million of global demand in 2013. However, owing to the inconsistent regulations in various developed countries, the market is expected to face considerable challenges. Restriction in temperature and pH of operation is estimated to hamper market growth. Rising adoption of enzyme engineering in synthetic biology has driven enzyme market penetration. This in turn is expected to facilitate great opportunities for enzyme market in chemical and fuel applications.
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Enzymes market is segregated into nucleases & polymerases, lipases, carbohydrase and proteases. Carbohydrase accounted for over 40% of the market revenue in 2013 and was the dominant enzyme product. This segment is expected to exhibit high growth on account of rising demand in food &...