The global specialty enzymes market was valued at $1,166.1 million in 2021, and is projected to reach $2,176.0 million by 2031, registering a CAGR of 6.7% from 2022 to 2031.
Enzymes are proteins that help speed up metabolism or chemical reactions in body. Specialty enzymes have applications in various industries such as pharmaceuticals, diagnostics, and food industries. These specialty enzymes can be derived from micro-organisms, plants, and animal sources.
Rise in prevalence of chronic diseases such as cancer and rheumatoid arthritis drive growth of the market. For instance, according to the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Enzymes empower the immune system to eradicate unwanted cells on its own. Enzymes such as lipoprotein lipase (LPL), lysozyme, and asparaginase are utilized in the treatment of cancer. Thus, rise in prevalence of cancer drives growth of the market. In addition, enzymes are used for the digestive diseases and immunodeficiency disorders, which further boosts demand for specialty enzymes.
Furthermore, expansion of food industries drives demand of specialty enzymes. Enzymes such as lipases, amylases, proteases, rennet, pectinases, invertases, cellulases, and glucose oxidase play an important role in the food processing industry. For instance, according to the U.S. national institute of standards and technology (NIST), in 2021, the food and beverage industry is the third largest contributor to the overall U.S. manufacturing gross domestic product. Thus, increase in application of enzymes in the food industry and surge in expanding food processing industry drives growth of the market.
Moreover, increase in R&D activities for development of specialty enzymes, rise in clinical trials for medicinal application of enzymes, and novel product launches in the market by key players boost the market growth. For instance, Jazz Pharmaceuticals plc, a leading biologics company, announced positive results from a Phase 2/3 trial, developed and conducted in close collaboration with the Children's Oncology Group (COG), evaluating the intramuscular (IM) administration of Rylaze (asparaginase erwinia chrysanthemi (recombinant)-rywn) in adult and pediatric patients with acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL) who have developed hypersensitivity to an E. coli-derived asparaginase. However, complexities developed in biosimilars hinder growth of the market.
The specialty enzymes market is segmented on the basis of application, source, type, and region. By application, the market is classified into pharmaceuticals, biotechnology research & development, and diagnostics. On the basis of source, it is divided into microorganisms, plants, and animals. By type, it is divided into carbohydrase, proteases, lipases, polymerases & nucleases, and other enzymes. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Alphazyme LLC, Amano Enzyme, Antozyme Biotech, Enzyme Development Corporation, BBI Solution, Biocatalyst, Novoenzymes, Specialty Enzymes and Probiotics, International Flavors and Fragrances Inc., and Enzyme Supplies Ltd.
The specialty enzymes market forecast is studied from 2022 to 2031.
The market size and estimations are based on a comprehensive analysis of key developments in the specialty enzymes industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the specialty enzymes market.
Enzymes are proteins that help speed up metabolism or chemical reactions in body. Specialty enzymes have applications in various industries such as pharmaceuticals, diagnostics, and food industries. These specialty enzymes can be derived from micro-organisms, plants, and animal sources.
Rise in prevalence of chronic diseases such as cancer and rheumatoid arthritis drive growth of the market. For instance, according to the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. Enzymes empower the immune system to eradicate unwanted cells on its own. Enzymes such as lipoprotein lipase (LPL), lysozyme, and asparaginase are utilized in the treatment of cancer. Thus, rise in prevalence of cancer drives growth of the market. In addition, enzymes are used for the digestive diseases and immunodeficiency disorders, which further boosts demand for specialty enzymes.
Furthermore, expansion of food industries drives demand of specialty enzymes. Enzymes such as lipases, amylases, proteases, rennet, pectinases, invertases, cellulases, and glucose oxidase play an important role in the food processing industry. For instance, according to the U.S. national institute of standards and technology (NIST), in 2021, the food and beverage industry is the third largest contributor to the overall U.S. manufacturing gross domestic product. Thus, increase in application of enzymes in the food industry and surge in expanding food processing industry drives growth of the market.
Moreover, increase in R&D activities for development of specialty enzymes, rise in clinical trials for medicinal application of enzymes, and novel product launches in the market by key players boost the market growth. For instance, Jazz Pharmaceuticals plc, a leading biologics company, announced positive results from a Phase 2/3 trial, developed and conducted in close collaboration with the Children's Oncology Group (COG), evaluating the intramuscular (IM) administration of Rylaze (asparaginase erwinia chrysanthemi (recombinant)-rywn) in adult and pediatric patients with acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL) who have developed hypersensitivity to an E. coli-derived asparaginase. However, complexities developed in biosimilars hinder growth of the market.
The specialty enzymes market is segmented on the basis of application, source, type, and region. By application, the market is classified into pharmaceuticals, biotechnology research & development, and diagnostics. On the basis of source, it is divided into microorganisms, plants, and animals. By type, it is divided into carbohydrase, proteases, lipases, polymerases & nucleases, and other enzymes. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Alphazyme LLC, Amano Enzyme, Antozyme Biotech, Enzyme Development Corporation, BBI Solution, Biocatalyst, Novoenzymes, Specialty Enzymes and Probiotics, International Flavors and Fragrances Inc., and Enzyme Supplies Ltd.
KEY BENEFITS FOR STAKEHOLDERS
This report entails a detailed quantitative analysis along with the current specialty enzymes market trends from 2022 to 2031 to identify the prevailing opportunities along with the strategic assessment.The specialty enzymes market forecast is studied from 2022 to 2031.
The market size and estimations are based on a comprehensive analysis of key developments in the specialty enzymes industry.
A qualitative analysis based on innovative products facilitates strategic business planning.
The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the specialty enzymes market.
Key Market Segments
By Application
- Pharmaceuticals
- Biotechnology research and development
- Diagnostics
By Source
- Microorganisms
- Plants
- Animal
By Type
- Carbohydrases
- Proteases
- Lipases
- Polymerases nucleases
- Other enzymes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Turkey
- South Africa
- Rest of LAMEA
Key Market Players
- Antozyme Biotech
- Enzyme Development Corporation
- BBI Solutions
- Biocatalyst
- Novozymes
- Specialty Enzyme and Probiotics
- International Flavor & Fragrance Inc
- Enzyme Supplies Limited
- Alphazyme LLC
- Amano Enzyme
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPECIALTY ENZYMES MARKET, BY APPLICATION
CHAPTER 5: SPECIALTY ENZYMES MARKET, BY SOURCE
CHAPTER 6: SPECIALTY ENZYMES MARKET, BY TYPE
CHAPTER 7: SPECIALTY ENZYMES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Specialty Enzymes Market," the specialty enzymes market size was valued at $1.2 billion in 2021, and is estimated to reach $2.2 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.Specialty enzymes are proteins that act as biocatalysts to accelerate the reaction and produce desired results in pharmaceuticals and diagnostics reactions. The demand for specialty enzyme has increased, owing to application of enzymes in various industries such as food, pharmaceuticals, and diagnostics.
Increase in prevalence of chronic diseases such as cancer and arthritis drives growth of the market. Alkaline phosphatase, carboxypeptidases, beta-glucosidases, and beta-lactamases are utilized in making anti-cancer drugs. For instance, according to the Globocan 2020, a report published by the WHO, lung cancer ranked second, in terms of patient count in Europe with estimated 477,534 newly diagnosed patients. Proteolytic enzyme bromelain was effective at reducing symptoms of pain, swelling, and joint stiffness in people with osteoarthritis. Thus, increase in prevalence of chronic diseases contributes toward growth of the market.
Furthermore, rise in number of geriatric populations drives growth of the specialty enzymes market. This population is more prone to chronic diseases. Thus, geriatric population signifies increase in patients of chronic diseases. For instance, according to the WHO, by 2050, the population of people aged 60 years and older will reach to 2.1 billion.
Furthermore, factors that drive growth of the specialty enzymes market share include increase in R&D for development of enzyme therapy, increase in clinical trials, new product launches, and rise in number of hospitals. For instance, in May 2020, MediWound Ltd., a fully-integrated biopharmaceutical company expanded the distribution of NexoBrid (Bromelain-based enzymatic debridement) in Europe for treatment of burns. Furthermore, rise in awareness and increase in acceptability of enzyme-based treatment by medical practitioners contributes toward growth of the specialty enzymes market.
The specialty enzymes market trends is segmented on the basis of application, source, type, and region. By application, the market is classified into pharmaceuticals, biotechnology research & development, and diagnostics. On the basis of source, it is divided into microorganisms, plants, and animals. By type, it is divided into carbohydrase, proteases, lipases, polymerases & nucleases, and other enzymes. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA
.
On the basis of type, the market is divided into carbohydrase, proteases, lipases, polymerases & nucleases and other enzymes. The carbohydrases segment dominated the market in 2021, and this trend is expected to continue during the forecast period, as carbohydrase have widely used as ingredients and processing aids in distinct industries such as foods & beverages and pharmaceuticals. Thus, increase in consumption of processed foods & beverages drives growth of the market.
Depending on application, the market is classified into pharmaceuticals, biotechnology, and diagnostics. The pharmaceuticals segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to rise in demand for specialty enzymes in drug synthesis and increase in R&D activities for development of novel specialty enzymes contribute toward growth of the market. In addition, increase in prevalence of digestive diseases and cancer further drives growth of the market.
On the basis of source, the market is bifurcated into microorganisms, plants, and animals. The microorganisms segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to rise in use of amylases in biotechnology and pharmaceutical industries is expected to drive the microorganism-derived specialty enzymes market.
North America accounted for a majority of the global specialty enzymes market growth in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of cancer and presence of key players in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in prevalence of chronic diseases and high population base.
According to Onkar Sumant, Manager, Healthcare, “The gradual increase in the need of specialty enzymes in various industries such as pharmaceuticals and diagnostics sector fuels the growth of specialty enzymes market.”
Some of the key players operating in the global specialty enzymes industry include Alphazyme LLC, Amano Enzyme, Antozyme Biotech, Enzyme Development Corporation, BBI Solution, Biocatalyst, Novoenzymes, Specialty Enzymes and Probiotics, International Flavors and Fragrances Inc and Enzyme Supplies Ltd.
Key Findings of the Study
- By type, the carbohydrases segment was the highest contributor to the specialty enzymes industry in 2021.
- By application, the pharmaceuticals segment was the highest contributor to the market in 2021.
- By source, the microorganism’s segment is projected to grow at a significant CAGR of 6.3% from 2022 to 2031.
- By region, North America garnered largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 8.8% during the review period.
Companies Mentioned
- Antozyme Biotech
- Enzyme Development Corporation
- Bbi Solutions
- Biocatalyst
- Novozymes
- Specialty Enzyme and Probiotics
- International Flavor & Fragrance Inc
- Enzyme Supplies Limited
- Alphazyme LLC
- Amano Enzyme
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 245 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1166.1 million |
| Forecasted Market Value ( USD | $ 2176 million |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
