Meticulous Research® has published a report titled “Enzymes Market,” which forecasts that the market will reach $18.38 billion by 2029, growing at a CAGR of 6.2% from 2022 to 2029. Key drivers of this growth include advancements in enzyme engineering, the development of genetically-engineered enzymes, and increasing environmental concerns that boost demand for biofuels. Moreover, rising investments in R&D, the prevalence of chronic ailments, and the need for cost reduction and resource optimization in production processes contribute to market expansion. However, stringent regulations and limitations regarding temperature and pH levels for enzyme efficacy may hinder growth.
The enzymes market is segmented by product type (industrial and specialty enzymes), source (microorganism, plant, and animal), type (carbohydrases, protease, lipase, and other enzymes), form (liquid and solid), and application (food & beverages, personal & household care, animal feed, pharmaceuticals, and textiles).
In 2022, the industrial enzymes segment is expected to dominate the market, driven by the increasing demand from industries such as food and beverage, animal feed, and textiles. The plant-derived enzyme segment is projected to grow the fastest, attributed to their availability and benefits for digestive health.
The carbohydrases segment is anticipated to capture the largest share, primarily due to their applications in food and biofuel production. Additionally, the solid enzyme form is expected to see rapid growth, favored for its stability and ease of use.
The food & beverage sector is projected to account for the largest market share, spurred by rising health consciousness and demand for clean-label products. Geographically, Asia-Pacific is poised for the highest growth, driven by a shift in manufacturing and increasing demand for food enzymes.
