The enzymes market has expanded rapidly, growing from $11.78 billion in 2023 to $13.52 billion in 2024, at a CAGR of 14.8%. This growth is driven by market expansion, R&D investments, and consumer demand for natural products. The market is expected to reach $22.86 billion in 2028, with a CAGR of 14.0%. Future growth will be fueled by sustainable practices, biofuel advancements, and emerging applications. Trends include biotechnology advancements, food and beverage industry demand, and industrial applications expansion.
Major Driver In The Enzymes Market
The enzyme market is anticipated to witness growth due to an increase in the prevalence of digestive disorders. Digestive disorders, affecting the digestive system, include conditions like GERD, cancer, IBS, lactose intolerance, hiatal hernia, and gallstones. Digestive enzymes play a vital role in breaking down food into absorbable molecules for the body. According to the National Center for Biotechnology Information, the prevalence of IBS alone ranges between 10% and 15% in the United States, with nearly 12% of patients seeking medical care for IBS-related complaints. This rise in digestive disorders is expected to drive the growth of the enzyme market, with market sizes reflecting this health-related trend in 2023, 2024, and 2028.
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Enzymes Market Competitive Landscape
Ramboll Group A/S, Jacobs Engineering Group Inc., AECOM Technical Services Inc., ERM Group Limited, WSP Global Inc., SNC-Lavalin Group Inc., Wood PLC, Stantec Inc., Black & Veatch Corporation, Tetra Tech Inc., Arcadis NV, Mott MacDonald Group Ltd., GHD Group Limited, TRC Companies Inc., Form Technologies Inc., Golder Associates Ltd., Cardno Limited, CH2M HILL Engineers Inc., SLR Consulting Ltd., Weston Solutions Inc., IndustrySafe Inc., ECS Limited, Geosyntec Consultants LLC, Apex Companies Inc., GZA GeoEnvironmental Technologies Inc., Haley & Aldrich Inc., Intelex Corporation, iAuditor Inc., Metrix Software Solutions Inc., Lighthouse Systems Inc., SafetyTek Inc., Strategix Application Solutions LLC, Effivity Technologies LLC, SiteDocs Inc., SafetySync LLC, Qooling Systems Inc.
Key Enzymes Market Trend
Technological advancements are transforming the delivery drones market. Drones have become increasingly prevalent as individuals and organizations integrate this technology into their business models. For example, in May 2022, Skyway, a US-based urban air mobility navigation service provider, partnered with Zing Drone Delivery to introduce the first food delivery by an advanced drone in Montverde, Florida. Skyway also introduced low-altitude weather services to enhance safe delivery. This drone delivery service offered time savings, efficiency, and convenience.
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Enzymes Market Segmentation
The enzymes market covered in this report is segmented –
1) By Product Type: Asparginase, Lipase, Protease, Nattokinase, Chitinase, Serratiopeptidase, Collagenase, Ligase, Other Products
2) By Application: Leukemia, Stomach Disorders, Antitumor, Skin Ulcers, Gaucher Disease, Fabry Disease, Other Applications
3) By End User: Drug Manufacturers, Hospitals, Private Clinics, Research Laboratories
By Geography:The regions covered in the enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the enzymes market in 2023.
The Enzymes Global Market Report 2024 furnishes information about the global enzymes market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
