The market for enzymes is one of the fastest growing markets owing to the rapid development in research and application-based studies. Enzymes are the specialized proteins that perform specific ...
The market for enzymes is one of the fastest growing markets owing to the rapid development in research and application-based studies. Enzymes are the specialized proteins that perform specific functions in cells, which involve catalyzing a wide range of biochemical reactions. Due to their ability to perform an enormous range of functions, they find application in many different industries like food, pharmaceuticals, detergents, biofuels, etc. The enzyme industry initially witnessed the launch of biotechnologically derived enzymes such as Maltogenase (amylase) and Lipolase (lipase) in the 1980s. While enzymes are available in a myriad of forms, a limited number of them have been commercialized and industrialized. Amongst these are lipase, protease, ligase, cellulase, amylase, glycoamylase, xylanase, lactase, protease, and chymosin and so on.
Industrial enzymes can be broadly categorized to serve various industry segments based on their applications. These include technical, food, feed, pharmaceutical, diagnostic, detergent, and biofuel enzymes. Food and feed enzymes form the largest market segment, due to their vast application in food processing and feed enhancement industries. Technical enzymes include those used in the textile, leather, and paper & pulp industries. The biofuel enzymes segment is expected to record high growth in the future due to the ongoing worldwide efforts to commercialize extensive use of biofuels. The detergent enzymes segment is growing due to increased use by detergent manufacturers in order to achieve improved product performance. Diagnostic and pharmaceutical enzymes include those used for detection of diseases and their treatment respectively. These enzymes are also extensively used for R&D purposes in biotechnology, pharmaceutical, and healthcare sectors.
Some of the important factors steering growth of the global market for industrial enzymes include new enzyme technologies that enhance cost efficiency and output, rising interest among clients in alternating petrochemical products with other organic compounds such as enzymes, and rising demand from animal feed producers, textile manufacturers, pharmaceutical companies, detergent manufacturers, and cosmetics vendors. Requirement for industrial enzymes in developed economies such as the US, Western Europe, Japan, and Canada has been comparatively stable during the recent times, while developing economies of Eastern Europe, Asia-Pacific, Africa, and Middle East regions can be seen as the fastest growing regional markets for industrial enzymes.
The major market players of this industry include Advanced Enzyme Technologies, Biocon, Aureozyme, Biozyme Laboratories, Danisco, Genencor International, Maxygen, and Novozymes, which is the biggest enzyme supplier. Introduction of novel drugs in the market involves a long, complex and intricate process, which has induced pharmaceutical companies to shift their spotlight on the biotechnology sector, thus stimulating the demand for biotechnology and research enzymes. Improved access to medical care facilities and services in the developing regions and the desire to achieve universal healthcare in some developed regions such as the US, is leading to increased use and therefore, demand for diagnostic as well as pharmaceutical and biocatalyst enzymes.