Latest TMR Report Explores Impact of COVID-19 Outbreak on Enzymes Market

Enzymes Market

Increased Focus on Development of Sustainable Biofuels Using Rare Algae Enzymes

Companies in the global enzymes market are tapping into new opportunities to develop biofuels. Growing focus on lowering CO2 emissions in the transportation sector has fueled the demand for biofuels. For instance, researchers at the Aarhus University in Denmark concluded a successful experiment to convert waste oil and fat into biofuels. Thus, manufacturers in the enzymes market landscape are collaborating with researchers around the world to develop new ways of producing biofuels.

The bioenergy application segment of the enzymes market is expected to reach an output of ~173,400 tons by the end of 2022. Growing demand for emission-reducing fuels has led to increased research in using unusual enzymes found in microalgae for the development of biofuels. Companies are becoming increasingly aware about this technique, and investing in the development of systems that convert organic waste into environmental-friendly biofuels.

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Increased R&D has led to the integration of natural processes for the development of biofuels in these systems. Manufacturers in the enzymes market are increasingly focusing on the selection of the best mutant of the enzyme for building the flow system using the photobiocatalysis technique.

enzymes market infographic

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Investments in Asia Pacific to Enhance Product Portfolio in Feed, Food, and Textile Sectors

Asia Pacific is attracting investments for enzyme production in feed, food, and textiles sectors. For instance, in February 2019, the global nutritional ingredient company Kemin, announced that the company is investing in China and entered into a partnership with CRVAB Bio-technology Co., Ltd. – a high-tech corporation specializing in animal nutrition and health products.

Asia Pacific is projected to emerge as a leading enzymes market, in terms of revenue by the end of 2027, reaching an estimated value of ~US$ 4.1 Bn. Therefore, companies are increasing their efforts to expand their product portfolio. They are building production capabilities to develop specialty ingredients used in nutraceuticals, pet food, textiles, food, and crop technologies.

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With the help of strategic collaborations, companies are planning to increase their resources for the production of single and blended enzymes. This growth of resources will intensify the probiotic products supply chain in the market. Investments in efficient fermentation facilities will help companies to accelerate the availability of enzyme products in the global market.

Product Lifecycle Management to Lead to Innovations in Enzymes

The enzymes market is highly competitive, with three major players accounting for a combined share of ~50% of the global market. Emerging players are finding it challenging to adapt to changing global trends. This has increased the need for innovations in the global enzymes market.

For instance, the food and beverages processing application segment is predicted for an exponential growth during the forecast period, with the highest estimated output of ~375,000 tons by 2027. However, growing concerns about food safety, food compliance, and quality act as a challenge for manufacturers in the enzymes market. Thus, manufacturers are adopting product lifecycle management to gain customer trust.

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