Specialty Enzymes Global Market Report 2022: By Type, By Source, By Application

Major players in the specialty enzymes market are BASF SE, Novozymes A/S, Roche Holding AG, Codexis Inc., Specialty Enzymes & Probiotics, Advanced Enzyme Technologies Ltd., BBI Solutions, E. I. du Pont de Nemours and Company, Sanofi and Amano Enzyme Inc.

The global specialty enzymes market is expected to grow from $5.21 billion in 2021 to $5.57 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $7.35 billion in 2026 at a CAGR of 7.1%.

The specialty enzymes market consists of sales of specialty enzymes which are proteins acting as biocatalysts to accelerate the rate of reactions. The revenue generated by the market involves the sales of specialty enzymes that include carbohydrases, proteases, lipasesand lipases, among others in liquid or dry form, which are produced either from microorganisms, plants or animals. Specialty enzymes are primarily used in pharmaceutical, diagnostics, animal nutrition, food & beverage, research, and biotechnology.

The main types of specialty enzymes are carbohydrases, proteases, lipases, polymerases & nucleases, oxidase & hydratases, others. Any of a class of enzymes (such as amylase) that promotes carbohydrate breakdown or synthesis is referred to as a carbohydrase (such as a disaccharide). The different sources include microorganisms, animals, plants and is used in pharmaceutical, diagnostics, research and biotechnology, food and beverage, animal nutrition, others.

North America is the largest region in the viral specialty enzymes market in 2021. Middle East is expected to be the fastest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Growing investment in biotechnology research & development is expected to boost market growth during the forecast period. Specialty enzymes are widely used in biotech research and development, particularly in molecular biology. The increasing investment and an increase in the number of companies conducting biotechnology research & development will in turn increase the number of biotech researches. For instance, according to the European House Ambrosetti, pharma R&D investments in Italy surged by 31% between 2013 and 2019, above the European average of 24%, and reaching €1.6 billion (US$1.94 billion) in 2019. According to the Assobiotec publication BioInItaly 2020, healthcare is involved in 49% of the over 700 biotech firms headquartered in Italy . There were 127 newer companies incorporated in just the first two months of 2019, which represents 3 new companies each new working day. Thus, the growing number of biotech research companies following increasing investments in biotech R&D is expected to boost the specialty enzymes market.

Ethical and societal issues are factors that will slow down the market growth during the forecast period. The clashing public opinions on these issues will determine the acceptability of new industrial biotechnology products. In 2019, a published article stated that there are five societal and ethical themes concerning industrial biotechnology namely sustainability, naturalness, risk management, innovation trajectories and economic justice. Many critics state the factor affecting economic justice is that the applications of industrial biotechnology lead to the concentration of knowledge and power in the hands of a few companies. Thus, societal and ethical issues are expected to impact market growth.

Technological advancements show opportunities for the production of enzyme products in a more efficient way. Challenges such as complexity in maintaining pH, operational high temperature of specialty enzymes and significant cost of maintenance of specialty enzyme products paves way for technological advancements. In 2019, an article published in Plant Biotechnology Journal stated the commercial launch of leaf pectinase powder developed using a new platform technology namely leaf-production platform. The leaf pectinase powder produced using leaf-production platform showed promising results like functionality in broad pH/temperature ranges as crude leaf extracts, leaf pectinase powder was stored up to 16 months at ambient temperature without loss of enzyme activity, unlike commercial enzyme products. This leaf-production platform is a novel technology for enzyme production with the elimination of fermentation, purification, concentration, formulation and cold chain processes.

In May 2021, BRAIN AG, a Germany-based industrial biotechnology company that identifies and develops innovative solutions and products for use in chemistry, cosmetics and food industries, acquired additional shares in Biocatalysts Ltd for $ 5.51 million (GBP 3.9 million). The acquisition further strengthens BRAIN’s BioIndustrial segment and widens commercial opportunities with Biocatalyst's portfolio and technology including access to BRAIN’s unique BioArchive and Biocatalyst’s MetXtra metagenomic library. Biocatalysts Ltd. is a UK-based manufacturer of specialty enzymes that focuses on the use of technology to develop novel specialty enzymes in a cost-effective manner.

The countries covered in the specialty enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.