The outbreak of COVID-19 has a marginal impact on the enzyme market. The sustainability of this market is majorly attributed to the extensively rising demand in bio-detergent, biofuels, pulp and paper manufacturing processes, rubber manufacturing, and molecular biology. Due to the COVID-19 pandemic, the majority of the ventures which are operating in the manufacturing of enzymes are currently working on the production sanitizers to fight against COVID-19. For example, in April 2020, BASF, the largest enzyme manufactures company, has started production of hand sanitizer to support the fight against COVID-19 in New York and New Jersey. This may cause a considerable decline in the growth of the global enzyme market, in the global market. However, as per the publication of Amway, they will increase the production and supply of immunity-building products in view of the COVID-19 pandemic crisis. These factors may drive the demand for enzymes in the global market, during the forecast period. The company such as AB enzymes has taken strategic decisions to follow the World Health Organization (WHO) and local government advice regarding the global network of sites.
AB enzymes safeguarding the health employees along with continuing to supply solutions for customers’ applications. By utilizing such strategies, the enzyme ventures across the world are preparing for the post-pandemic impact. During this unprecedented situation, we are helping our clients in understanding the impact of COVID19 on the Global Enzyme.
Download Exclusive Free Sample Copy of the Report: https://www.researchdive.com/request-toc-and-sample/200
As per a new publication of Research Dive, the global enzyme is set to generate revenue of $17,875.7 million by 2026, at a CAGR of 9.4% during the forecast period.
The segmentation of the market has been done on the basis of source, product, application, and region. The report provides in-depth insights on drivers, opportunities, restraints, vital segments, and leading industry players of the market. As per our analyst estimates, enzymes have functional versatility along with it has wide applications in multiple fields is key factors propelling the enzyme market growth. Contrary to this, safety and handling issues regarding enzymes are projected to hamper the growth of the global enzyme market, during the period of forecast.
Micro-organisms for the global enzyme market will have the fastest growth During 2020-27
On the basis of source, the global market for an enzyme is classified into micro-organisms, Plants, Animals. The micro-organisms market is valued at $7,565.0 million revenue in 2018 and is expected to grow at 9.6% CAGR by the end of 2026. The growth of the micro-organisms segment is prominently driven by the significant capability of micro-organisms to produce enzymes with a wider range of applications.
Connect with Analyst to Reveal How COVID-19 Pandemic Impacting On Market: https://www.researchdive.com/connect-to-analyst/200
Lipase will register substantial market growth during the period of forecast
Based on the product the enzyme is broadly categorized into polymerases & nucleases, proteases, carbohydrase, lipases, and others, The market size for lipases segment accounted for $2,752.9 million in 2026 and is expected to boost at a CAGR of 9.8% during the forecast period; this is mainly because of its significant role in the water purification as well as the dairy industry
Specialty enzymes will generate significant market growth
On the basis of application, the global market is fragmented into industrial enzymes and specialty enzymes. The market size for specialty enzyme accounted for $9,295.4 million in 2026 and is projected to grow at a healthy CAGR of 10.5% during the period of forecast; this majorly because specialty enzymes have significant usage in chronic disease therapies such as lysosomal diseases and CVD’s (cardiovascular diseases).
Geographical Analysis and Major Market Players
On the basis of region, the global for enzyme market is classified into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific Enzyme market valued at $4,647.7 million in 2026 and is anticipated to rise at 9.9% CAGR during the period of forecast. This is mainly because of the rapid expansion of food & beverages, detergent, and pharmaceutical industries significantly in South Korea, Japan, and Singapore.
The major players of the global enzyme market consist of BASF, Royal DSM, Enmex, Danisco A/S, Advanced Enzymes, Chr. Hansen, Lumis Biotech, Hayashibara, Aumgene Biosciences, and Codexis.
Contact Us:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
Toll Free : +1 -888-961-4454
Email: support@researchdive.com
LinkedIn: https://www.linkedin.com/company/research-dive
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive
Blog: https://www.researchdive.com/blog
Follow us on: https://covid-19-market-insights.blogspot.com
No comments:
Post a Comment