Global Specialty Enzymes Market is valued approximately USD 1.37 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.70 % over the forecast period 2024-2032. Specialty enzymes are enzymes that are highly specialized in their function and are typically used in specific industrial processes, research, or medical applications. Specialty enzymes are usually produced through advanced biotechnological methods and are tailored to perform specific tasks efficiently. Moreover, the increasing demand for processed food directly supports the growth of the specialty enzymes market. Enzymes are used in food processing to extend the shelf life of products by controlling enzymatic browning, inhibiting microbial growth, and preventing spoilage. This allows manufacturers to produce foods with longer shelf lives, reducing waste and increasing product availability.
The growth of the specialty enzymes market is propelled by several key factors. Primarily there's a rising incidence of digestive disorders, including indigestion and inflammation, as well as other conditions like immunodeficiency. Specialty enzymes offer rapid and effective relief for these ailments, driving their adoption. Moreover, the diverse applications of specialty enzymes across various segments further bolster market growth. Additionally, rapid advancements in biotechnology and molecular biology, growing use in pharmaceutical industry, and expansion of food and beverage industry are anticipated to provide an additional impetus to market expansion in the forecast period 2024-2032. However, high maintenance cost of specialty enzymes products and rising safety concerns owing to risks of contaminations of the specialty enzymes are expected to hinder the market growth during the forecast period 2024-2032.
The key regions considered for the global Specialty Enzymes market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Specialty Enzymes hold the largest market in North America, as they are mostly used in the feed and food industries. It has a significant market share in the global specialty enzyme market. Consumer demand for natural ingredients in products, rising spending on premium quality products, and rising consumption of processed foods are the key factors driving the market growth. Also, Emerging applications of food enzymes, particularly in areas like protein fortification, are anticipated to spur growth within the food enzymes market. This trend is poised to generate attractive prospects for market players. For instance, in June 2021, International Flavors & Fragrances, Inc. introduced Nurica, a dairy enzyme, in the United States. This enzyme effectively utilizes lactose naturally occurring in milk. By enhancing the production of prebiotic Ggalacto-oligosaccharides (GOS) fibers, Nurica aids in managing lactose intolerance and improving fiber intake.
Major market player included in this report are:
- Antozyme Biotech Pvt Ltd
- Biocatalyst
- Specialty Enzyme and Probiotics
- BBI Solutions
- Amano Enzyme Co., Ltd.
- Enzyme Supplies Limited
- Novozymes A/S
- Alphazyme LLC
- International Flavor & Fragrance Inc
- Enzyme Development Corporation
The detailed segments and sub-segment of the market are explained below:
By Source
- Plant
- Animal
- Microbial Combustion
- Gasification
- Anaerobic Digestion
By Type
- Carbohydrases
- Proteases
- Lipases
- Other Types
By Application
- Food & Beverage
- Pharmaceutical
- Animal Nutrition
- Other Applications
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Specialty Enzymes Market Definition and Research Assumptions
- 1.1. Research Objective
- 1.2. Market Definition
- 1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
- 1.3.3.1. Availability
- 1.3.3.2. Infrastructure
- 1.3.3.3. Regulatory Environment
- 1.3.3.4. Market Competition
- 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
- 1.3.4.1. Regulatory frameworks
- 1.3.4.2. Technological Advancements
- 1.3.4.3. Environmental Considerations
- 1.3.4.4. Consumer Awareness & Acceptance
- 1.4. Estimation Methodology
- 1.5. Years Considered for the Study
- 1.6. Currency Conversion Rates
Chapter 2. Executive Summary
- 2.1. Global Specialty Enzymes Market Size & Forecast (2022- 2032)
- 2.2. Regional Summary
- 2.3. Segmental Summary
- 2.3.1. By Source
- 2.3.2. By Type
- 2.3.3. By Application
- 2.4. Key Trends
- 2.5. Recession Impact
- 2.6. Analyst Recommendation & Conclusion
Chapter 3. Global Specialty Enzymes Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Challenges
- 3.3. Market Opportunities
Chapter 4. Global Specialty Enzymes Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Specialty Enzymes Market Size & Forecasts by Source 2022-2032
- 5.1. Plant
- 5.2. Animal
- 5.3. Microbial
Chapter 6. Global Specialty Enzymes Market Size & Forecasts by Type 2022-2032
- 6.1. Carbohydrases
- 6.2. Proteases
- 6.3. Lipases
- 6.4. Other Types
Chapter 7. Global Specialty Enzymes Market Size & Forecasts by Application 2022-2032
- 7.1. Food & Beverage
- 7.2. Pharmaceutical
- 7.3. Animal Nutrition
- 7.4. Other Applications
Chapter 8. Global Specialty Enzymes Market Size & Forecasts by Region 2022-2032
- 8.1. North America Specialty Enzymes Market
- 8.1.1. U.S. Specialty Enzymes Market
- 8.1.1.1. Source breakdown size & forecasts, 2022-2032
- 8.1.1.2. Type breakdown size & forecasts, 2022-2032
- 8.1.1.3. Application breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Specialty Enzymes Market
- 8.2. Europe Specialty Enzymes Market
- 8.2.1. U.K. Specialty Enzymes Market
- 8.2.2. Germany Specialty Enzymes Market
- 8.2.3. France Specialty Enzymes Market
- 8.2.4. Spain Specialty Enzymes Market
- 8.2.5. Italy Specialty Enzymes Market
- 8.2.6. Rest of Europe Specialty Enzymes Market
- 8.3. Asia-Pacific Specialty Enzymes Market
- 8.3.1. China Specialty Enzymes Market
- 8.3.2. India Specialty Enzymes Market
- 8.3.3. Japan Specialty Enzymes Market
- 8.3.4. Australia Specialty Enzymes Market
- 8.3.5. South Korea Specialty Enzymes Market
- 8.3.6. Rest of Asia Pacific Specialty Enzymes Market
- 8.4. Latin America Specialty Enzymes Market
- 8.4.1. Brazil Specialty Enzymes Market
- 8.4.2. Mexico Specialty Enzymes Market
- 8.4.3. Rest of Latin America Specialty Enzymes Market
- 8.5. Middle East & Africa Specialty Enzymes Market
- 8.5.1. Saudi Arabia Specialty Enzymes Market
- 8.5.2. South Africa Specialty Enzymes Market
- 8.5.3. Rest of Middle East & Africa Specialty Enzymes Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Antozyme Biotech Pvt Ltd
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Biocatalyst
- 9.3.3. Specialty Enzyme and Probiotics
- 9.3.4. BBI Solutions
- 9.3.5. Amano Enzyme Co., Ltd.
- 9.3.6. Enzyme Supplies Limited
- 9.3.7. Novozymes A/S
- 9.3.8. Alphazyme LLC
- 9.3.9. International Flavor & Fragrance Inc
- 9.3.10. Enzyme Development Corporation
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes