Meticulous Research®, a leading global market research company, has published a report titled “Enzymes Market by Product Type (Industrial Enzymes, Specialty Enzymes), Source (Microorganism, Plant, Animal), Type (Carbohydrases, Protease, Lipase), Form, Application (Food & Beverages, Personal & Household Care, Animal Feed) – Forecast to 2029.” The enzymes market is projected to reach $18.38 billion by 2029, growing at a CAGR of 6.2% from 2022 to 2029. This growth is driven by advancements in enzyme engineering and green chemistry, the introduction of genetically-engineered enzymes, rising environmental concerns that increase demand for biofuels, heightened R&D investments in the enzyme sector, and a growing prevalence of chronic ailments, alongside the need for cost reduction and resource optimization in production processes. However, the market faces challenges from stringent regulations and the restricted temperature and pH levels required for enzyme functionality.
