Global Market For Industrial Enzymes To Be Worth $4.4 Billion In 2015
July 07, 2011
Wellesley, Mass. – In a recent release, ENZYMES IN INDUSTRIAL APPLICATIONS: GLOBAL MARKETS (BIO030F) from BCC Research (www.bccresearch.com), the global market value of industrial enzymes was $3.3 billion in 2010. That value is projected to be $4.4 billion in 2015, after increasing at a five-year compound annual growth rate (CAGR) of 6%.
The global market for industrial enzymes can be broken down into three segments – technical enzymes, food and beverage enzymes, and others.
The segment made up of technical enzymes was valued at nearly $1.1 billion in 2010, and in 2015 should be worth nearly $1.5 billion, yielding a CAGR of 6.6%.
The segment made up of food and beverage enzymes was valued at $975 million in 2010, and in 2015 should be worth nearly $1.3 billion, growing at a CAGR of 5.1%.
The last segment, made up of others, was worth nearly $1.3 billion in 2010 and should reach a value of nearly $1.7 billion in 2015, a CAGR of 6.2%.
Enzymes are proteins that catalyze chemical reactions. These biological catalysts lower the amount of activation energy needed and thus speed up reactions. They are used in industries such as food and beverages, in cleaning and environmental processes, and for analytical and diagnostic purposes. Some of the attractive properties enzymes offer in comparison to chemical-based reactions include higher efficiencies, increased specificity, and improved environmental compatibility.
The global market for industrial enzymes has been growing as modern industries have begun to explore the advantages of these enzymes over microorganisms used in the past. Key factors driving this market growth include new research and development spending, increasing competition, patent expiries, and new technologies. Despite the recent global economic setback, the outlook over the next five years for industrial enzymes is a positive one.
The report has a broad intended audience; more specifically, it’s of interest to chemical, biochemical, and biotechnical companies. Other industries who could find it informational include the food and beverages, animal feed, detergents, and leather industries, as well as other technical enzyme manufacturers and users.
GLOBAL INDUSTRIAL ENZYMES MARKET, 2008-2015
Source: BCC Research
Enzymes in Industrial Applications: Global Markets( BIO030F )
Publish Date: December 2010
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