Technical Enzymes Market

 The Global Technical Enzymes Market is projected to reach USD 1.53 billion by 2027. The industrial enzyme market is fueled by the rising demand for food and beverages due to the increase in disposable income and changing lifestyle. Introduction of bio-fuel as a substitution for fossil fuels and a conventional source of energy is also encouraging the growth of the market. Governments across the world are encouraging consumers to switch to bio-fuel to encourage a clean and green environment. Another driving factor is the rising investment in food and beverages and pharmaceutical industries. Advancement in biotechnology is also encouraging the growth of the market in the field of protein engineering.

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The materials and chemical industry has registered a rapid revenue growth over the recent past owing to the constant requirement for materials and chemicals across various sectors including agriculture, pharmaceutical and biotechnology, paper, healthcare, food and beverage, and manufacturing among others. Rapid demand for products like perfumes, soaps, detergents for daily usage, increasing adoption of green energy and organic products, increasing investments in research and development activities, and rising support from various public and private sectors are key factors fueling global Technical Enzymes market growth. In addition, factors such as rising disposable income, increasing efforts to reduce carbon footprint and consumer shift to eco-friendly and sustainable products are expected to fuel overall market growth going ahead.

The report additionally evaluates the manufacturers of the market with respect to market size and share, distribution, sales network and distribution channels, global position, recent research and development activities, and product portfolio among others to offer a competitive edge to the readers. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, and partnerships happening in the market that are significantly influencing the revenue growth. The competitive landscape section also covers SWOT analysis and Porter’s Five Forces analysis to provide better insights into the competition in the market. The companies dominating the global Technical Enzymes market with largest shares are DuPont de Nemours, Inc., Epygen Labs FZ LLC, Maps Enzymes, Aumgene Biosciences, BASF, Creative Enzymes, Enzymatic Deinking Technologies, Dyadic International, MetGen, and Novozymes, among others

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The COVID-19 impact:

COVID-19 has impacted the market negatively. The weaker consumer demand for lifestyle and well-being products due to the imposition of lockdown and social restrictions will have a negative impact on the demand for cosmetics and certain food additives. The COVID-19 pandemic has crippled various industries, along with public construction. The activity will more likely cease due to the imposition of lockdown and social distancing, and work will halt due to the supply chain disruption, the termination of contracts to control expenses, and the shortage of subcontractors and materials. However, the ease in restrictions and the government initiatives to start the economic activities in the consumer goods market creates hope for the imminent recovery of the market.

The report also evaluates the regions of the market with regards to the market size, share, volume, value, production and consumption patterns, supply and demand dynamics, trends, consumer demands, and the existence of key players in major geographical regions of the world. It also covers a country-wise analysis to provide better insights into the market growth and upcoming growth opportunities. The key regions assessed in the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)

  • Proteases
  • Cellulases
  • Amylases
  • Lipases
  • Other

Form Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)

  • Liquid
  • Dry

End-Use Verticals Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)

  • Biofuel
  • Organic Synthesis
  • Textiles & Leather
  • Paper & Pulp
  • Other

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