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, 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 global specialty enzymes market is expected to grow from $3.79 billion in 2019 to $4.49 billion in 2020 at a growth rate of 18.46%. The growth is mainly due to the COVID-19 that has urged individuals to focus on health and strengthening the immune system and thus, increasing the demand for foods, supplements and drinks containing probiotics. The market is then expected to reach $5.35 billion in 2023 at a CAGR of 6.05%.