What Is The Definition Of The Global Serine Proteases Market?
Serine proteases are enzymes that cleave peptide bonds in proteins featuring a distinctive structure, with two beta-barrel domains converging at the catalytic active site. These enzymes are ubiquitous in both eukaryotes and prokaryotes and play roles in various physiological and pathological processes.
Serine Proteases Global Market Report 2024 provides data on the global serine proteases market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Serine Proteases market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Serine Proteases Market Size And Growth Rates Projected To Evolve?
The serine proteases market size has grown rapidly in recent years, increasing from $2.04 billion in 2023 to $2.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. This growth is attributed to the increasing prevalence of diseases requiring enzyme treatments, increased funding and grants for protease-related research, regulatory support and incentives, advancements in genetic engineering, and rising demand for serine proteases in food. The market is expected to continue rapid growth, reaching $3.45 billion in 2028 at a CAGR of 11.2%. The forecasted growth is driven by the expansion of industrial applications, growing awareness and adoption, rising prevalence of chronic diseases, increasing demand in biotechnology and pharmaceuticals, and a higher incidence of digestive disorders. Major trends include technological advancements, development of inhibitors for treating diseases, customized therapeutic approaches, adoption of CRISPR technology, and advancements in omics technologies.
What Are The Essential Drivers Behind The Growth Of The Serine Proteases Market?
The expansion of the food and beverage industry is expected to drive the growth of the serine proteases market. This industry includes all sectors involved in producing, processing, packaging, distributing, and selling food and drink products. Its growth is driven by the increasing global population, urban migration, and innovations in production, processing, and distribution to enhance efficiency. Serine proteases contribute to the quality, flavor, and functionality of food and beverage products, supporting industry innovation and efficiency. For instance, in April 2024, the Australian Bureau of Statistics reported that sales of food and non-alcoholic beverages in Australian supermarkets, grocery stores, convenience, and specialty food stores totaled 15.1 million tonnes in the fiscal year 2021-22, up from 14.8 million tonnes in the previous fiscal year 2020-21. Thus, the expansion of the food and beverage industry is driving the serine proteases market's growth.
Get Your Free Sample of the Global Serine Proteases Market Report
How Is The Global Serine Proteases Market Divided Into Key Segments?
The serine proteases market covered in this report is segmented –
1) By Type: C1R, C1S, C3A, C3B
2) By Application: Digestive System, Blood Coagulation System, Complement System, Other Applications
3) By End-Use: Dietary Supplements, Nutraceuticals, Pharmaceutical, Industrial, Other End-Uses
What Trends Are Reshaping The Future Of The Serine Proteases Market?
Major companies in the serine protease market are developing advanced protease enzymes to meet the growing demand across various applications such as pharmaceuticals, biotechnology, and industrial processes. These high-performance protease enzymes are engineered for superior catalytic efficiency, stability, and selectivity, with improved turnover rates and resistance to extreme conditions. For example, in November 2021, Biocatalysts Ltd, a UK-based biotechnology company, launched Promod 324L, a novel protease enzyme tailored for the pet food sector. This enzyme enhances the processability of animal proteins by improving solubility, reducing viscosity, and efficiently breaking down tough animal tissue to produce a protein hydrolysate with increased accessible protein content, thus boosting nutritional absorption and maximizing the value of by-products.
What Is The Fastest Growing Region In The Serine Proteases Market?
Asia-Pacific was the largest region in the serine proteases market in 2023. The regions covered in the serine proteases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
