South Korea Enzymes Market Size & Outlook, 2021-2030
South Korea enzymes market, 2018-2030 (US$M)
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South Korea enzymes market highlights
- The South Korea enzymes market generated a revenue of USD 240.8 million in 2021 and is expected to reach USD 463.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.6% from 2022 to 2030.
- In terms of segment, industrial enzymes was the largest revenue generating type in 2021.
- Specialty Enzymes is the most lucrative type segment registering the fastest growth during the forecast period.
Enzymes market data book summary
| Market revenue in 2021 | USD 240.8 million |
| Market revenue in 2030 | USD 463.6 million |
| Growth rate | 7.6% (CAGR from 2021 to 2030) |
| Largest segment | Industrial enzymes |
| Fastest growing segment | Specialty Enzymes |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Industrial Enzymes, Specialty Enzymes |
| Key market players worldwide | BASF, Novonesis AS ADR, DuPont de Nemours Inc, DSM, Novus Holdings Ltd, Associated British Foods PLC, Advanced Enzymes, Bluestar Adisseo Co., Chr. Hansen, Lesaffre |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.1% of the global enzymes market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China enzymes market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 804.7 million by 2030.
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Enzymes Market Scope
Enzymes Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea enzymes market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to enzymes market will help companies and investors design strategic landscapes.
Industrial enzymes was the largest segment with a revenue share of 57.02% in 2021. Horizon Databook has segmented the South Korea enzymes market based on industrial enzymes, specialty enzymes covering the revenue growth of each sub-segment from 2018 to 2030.
In South Korea, enzymes are mainly used in specialty food, eco-solutions, personal care & cosmetics, pharmaceutical, and animal feed industries. Lactase, catalase, mutanase, and lipase are predominantly used to meet the demand of these end-use industries. Geno Focus, a prominent player in South Korea, provides both industrial and specialty enzymes for these end-use industries.
Moreover, increasing R&D activities in the country are anticipated to fuel the demand for specialty enzymes. However, industrial enzymes are expected to dominate the market due to rapid industrialization, increasing preference for processed food, and expanding textile & apparel industry.
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Target buyers of South Korea enzymes market databook
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Our clientele includes a mix of enzymes market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea enzymes market , including forecasts for subscribers. This country databook contains high-level insights into South Korea enzymes market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea enzymes market size, by type, 2018-2030 (US$M)
South Korea Enzymes Market Outlook Share, 2021 & 2030 (US$M)
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