Specialty Enzymes Market Size To Reach $8.88 Billion By 2030

Specialty Enzymes Market Growth & Trends

The global specialty enzymes market size is expected to reach USD 8.88 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.6% from 2023 to 2030. This is attributable to the specific yield optimization and catalytic reaction properties of specialty enzymes.

Pharmaceutical manufacturers across the globe have incorporated these specialty enzymes on account of their expanding applications particularly in processing fine chemicals and pure pharmaceutical drugs. The shift in trend towards the adoption of specialty enzymes in order to reduce reliance on conventional enzymes has been observed in the last few years and hence these enzymes are expected to penetrate the overall industry growth. Specialty enzymes are widely used to manufacture drugs to treat some fatal diseases such as cardiovascular diseases, cancer, and pain caused by age, asthma, hay fever, and lysosomal storage disorders in the pharmaceutical industry. The increasing prevalence of such diseases coupled with the growing geriatric population particularly in the U.S., Europe, and Japan is also expected to have a positive influence on industry growth.

Growth of the global pharmaceutical industry, growing number of biotechnology R&D, and advancement in enzyme engineering & green chemistry are expected to fuel the market over the forecast period. Difficulty in maintaining pH and operational temperature of specialty enzymes is expected to remain a key concern for key players. Legal & ethical issues coupled to lack of awareness among consumers regarding the benefits of specialty enzymes particularly in developing countries is also expected to pose threat to the market growth. However, the growing industrialization rate and advanced technologies adopted in the pharmaceutical industry in emerging markets of BRIC nations is expected to hold future opportunities for industry participants.

North America emerged as the largest regional specialty enzyme market owing to the presence of niche consumers and advanced technologies. An increase in population and growth in disposable income among consumers in emerging markets of China and India is expected to drive the industry demand in the Asia Pacific region. China, India, and Brazil are expected to be the most lucrative regional markets for specialty enzymes. Some of the key specialty enzyme manufacturers include Advanced Enzyme Technology Ltd. Affymetrix Inc., Advanced Enzyme Technology Ltd., Amano Enzyme Inc., Bbi Enzymes Ltd., Basf, Codexis Inc., Nagase & Co. Ltd., Life Technologies, Roche Holding Ag., and Sanofi S.A among others.

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Specialty Enzymes Market Report Highlights

• Animal sourced enzymes emerged as the fastest growing segment with a CAGR of 7.1% from 2023 to 2030. This is attributed to its ability to produce larger yields on low-cost media in a shorter amount of time.

• Carbohydrase emerged as the fastest growing type segment with a CAGR of 6.9% from 2023 to 2030. This is attributed to its growing awareness about shelf-life and freshness among bread manufacturers has led them to increase their expenditure in high-quality enzymes, especially alpha-amylase.

• Research & Biotechnology emerged as the fastest growing segment with a CAGR of 6.8% from 2023 to 2030. This is attributed to its further use in several end-use industries and possess health benefits. Ongoing research & development activities by major biotech companies including, Novartis AG, Sanofi, Bayer AG, and F.Hoffmann-La Roche Ltd, are projected to boost the enzyme demand over the forecast period.

• Asia Pacific emerged as the fastest growing region with a CAGR of 7.5% from 2023 to 2030. This is attributed to the increasing R&D activities in the country are anticipated to fuel the demand for specialty enzymes.

• Moreover, companies are involved in mergers, acquisitions, and product innovations to cater to the industry. For instance, in March 2022, Amano Enzyme, Inc., a major supplier of specialty enzymes to the food industry, announced that it had joined the Plant Protein Innovation Center (PPIC), an interdisciplinary research center dedicated to the study of plant and alternative proteins.

Specialty Enzymes Market Segmentation

Grand View Research has segmented the specialty enzymes market report on the basis of source, product, application, and region:

Specialty Enzymes Source Outlook (Revenue, USD Million, 2018 - 2030)

• Plants

• Animals

• Microorganisms

Specialty Enzymes Product Outlook (Revenue, USD Million, 2018 - 2030)

• Carbohydrase

• Proteases

• Lipases

• Polymerases & Nucleases

• Other

Specialty Enzymes Application Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical

• Research & Biotechnology

• Diagnostics

• Biocatalyst

Specialty Enzymes Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

  • Italy

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Indonesia

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • Turkey

List of Key Players of Specialty Enzymes Market

• Advanced Enzyme Technology Ltd.

• Amano Enzyme Inc.

• Bbi Enzymes Ltd.

• BASF SE

• Codexis Inc.

• Nagase & Co. Ltd.

• Life Technologies

• Roche Holding Ag.

• Sanofi S.A.