Global Industrial Enzymes Market to Reach US$12,844.4 Mn by 2025

Increased Usage in Pharmaceutical Sector to Propel Growth, Says TMR

ALBANY, New York, January 18, 2019 /PRNewswire/ --

Organizations in the global industrial enzymes market are working on adopting various strategies so as to pick up a firm footing in this immensely competitive scenario. Development of innovative products is one of the major concept taken up by the key players, in order to increase their share in market, discovers Transparency Market Research (TMR). Moreover, various players are investigating significant scope in future in undiscovered markets of several regions to reinforce their grip in the market. Various players recently have gone into major mergers and acquisitions and collaborations to create novel items by utilizing front line innovation stages, so as to meet the rising needs of different end-use enterprises. Moreover, an expanding number of players are invigorating coordinated efforts so as to boost the production of industrial enzymes and gain an edge over their competitors.

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The key players operating in the market are Advanced Enzyme Technologies Ltd., Koninklijke DSM N.V., E.I.du Pont de Nemours and Company, Associated British Foods (ABF) plc., AB Enzymes GmbH, Novus International Inc., Novozymes A/S, Codexis Inc., and Chr. Hansen A/S.

The global industrial enzymes market is expected to be filled with serval upcoming opportunities. The market is likely to flourish at a CAGR of 8.8% within the forecast period from 2017 to 2025. In 2016, the market was valued to be around worth US$6,067.4 million. This figure is likely to reach around US$12,844.4 million by 2025 end.

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Among the several types of industrial enzymes proteases and carbohydrases segments collectively hold the major share in the market. This is credited to their surge in various sectors for example, animal feed and food and beverages. Geographically, North America region accounted for the most dominating market in 2016, propelled mainly by substantial investment in food and beverages industry. Nevertheless, Asia Pacific region is foreseen to grow at a significant pace in the forthcoming years, owing to the surging demand in various developing nations for example, China and India.