Enzymes Market

The enzymes market is projected to reach USD 20.4 billion by 2029 from USD 14.0 billion in 2024 growing at a CAGR of 7.8% from 2024 to 2029. The global demand for enzymes is increasing due to their widespread application in various industries. In the food and beverage sector, enzymes enhance product quality and consistency. In biofuels, they facilitate more efficient and sustainable production processes. The pharmaceutical industry utilizes enzymes in drug formulation and disease treatment. Additionally, the rising focus on environmentally friendly and cost-effective industrial processes boosts enzyme use in detergents and textiles. Advances in biotechnology also enable the development of tailored enzymes for specific applications, further driving their demand. Overall, the versatility and efficiency of enzymes across multiple sectors contribute to their growing global demand. The players in the market are actively involved in agreements for industrial and specialty enzymes. Associated British Foods plc (England) has extended its distribution agreement with Barentz (Netherlands) for bake and food enzymes across most of Europe. The 5-year agreement enhances Associated British Foods plc (England) market ambitions. Barentz (Netherlands) will distribute VERON baking enzymes and food enzymes for protein, grain, and fruit processing, promoting sustainable solutions and market growth.

The key players in the enzymes market include BASF SE (Germany), International Flavors & Fragrances Inc. (US), dsm-firmenich (Switzerland), Associated British Foods plc (England), and Novozymes A/S (Denmark) among others. The key strategies the leading market players adopt include product launches, collaborations, partnerships, and expansion to increase their market share. For instance, In January 2024 Novozymes and Chr. Hansen has completed their merger, resulting in the establishment of Novonesis. As a biosolutions partner, Novonesis aims to enhance business, promote healthier lives, and support a healthier planet. The combined expertise of the company spans over 30 different industries. In January 2022 BASF SE (Germany) has expanded its enzyme production capacity at the Ludwigshafen, Germany plant, significantly increasing annual fermentation runs. This expansion allows BASF to meet the growing global demand for its high-quality feed enzymes, including Natuphos E, Natugrain TS, and the new Natupulse TS. The larger production capacity enhances BASF's ability to supply reliable enzyme products, strengthening its position in the global enzyme market. In January 2022  dsm-firmenich and Novozymes S/S Alliance introduced HiPhorius, a comprehensive phytase solution aimed at sustainable, profitable poultry protein production.

To know about the assumptions considered for the study download the pdf brochure

Novozymes A/S (Denmark) is a major bio-innovation company which is providing biological solutions like enzymes and microbes. The company caters to 5 business segments Household Care, Food, Beverages & Human Health, Bioenergy, Agriculture, Animal Health & Nutrition, and Grain & Tech Processing. The company offers enzymes through all its business segments. The company has been involved in partnerships with leading distributors in the North American region to increase the consumer reach of their products. In September 2023, Novozymes A/S launched Vertera ProBite, an innovation utilizing the enzyme MTGase, designed to improve the texture of plant-based products.  In July 2023, the company expanded its existing plant in Kuala Lumpur, Malaysia. The center, part of the South-East Asia hub, supports customers in China, India, Japan, Korea, and Australia, while exploring emerging applications like MCT, FFAR, and hydrolysis in its laboratories.

BASF SE (Germany) is the world’s leading chemical company that produces a wide range of products. The company specializes in the chemical industry and ranks among the world's largest chemical producers. It operates through 11 divisions, which are organized into six segments: Chemicals, Materials, Industry Solutions, Surface Technologies, Nutrition & Care, Agriculture Solutions, and Others.  Enzyme products fall within the categorization of the Nutrition & Care and Chemicals segment. In December 2021, the company launched Natupulse TS, an NSP enzyme for animal feed that hydrolyzes ß-mannans into manno-oligosaccharides (MOS). As an endo-1,4-ß-D-mannanase, it reduces digesta viscosity and enhances feed digestibility. In March 2023, BASF SE (Germany) and Cargill (US) expanded their partnership to South Korea, marking their first Asian market. This collaboration introduces Enzae Manno (Cargill), made with Natupulse TS, to South Korean animal protein producers, combining BASF's enzyme R&D strengths with Cargill's market reach. This partnership aims to enhance productivity, sustainability, and cost-efficiency in animal feed. By extending its geographic reach and launching innovative enzyme solutions, BASF SE strengthens its global presence and market leadership in animal nutrition.

Related Reports:

Enzymes Market by Product Type (Industrial Enzymes and Specialty Enzymes), Source (Microorganism, Plant, and Animal), Type, Industrial Enzyme Application, Specialty Enzymes Application, Reaction Type and Region - Global Forecast to 2029

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]