Enzymes Market Size, Share, Growth, Trends, and Global Industry Analysis: Size, Share, Growth, Trends, and Global Industry Analysis By Product Type (Protease, Lipase, Carbohydrates, Nuclease &Polymerase), By Source Type (Plants, Animals, and Microorganisms), By Type (Industrial Enzyme, Specialty Enzyme, and Others), By Application (Food &Beverages, Bioenergy, Pharmaceuticals, Biotechnologies, Diagnostics &Others), and Region, Forecast 2019-2030

Enzymes Market size was valued at US$ 11,834.2 million in 2023 and is expected to grow at a CAGR of 4.6% from 2024 - 2030. Enzymes are mainly proteins that act as catalysts in biological processes. These accelerate chemical reactions at physical temperatures. They are also known as biological catalysts. The growth of the enzyme market is fueled by key factors such as a notable surge in demand for processed food driven by changing customer lifestyles and preferences. This trend demands the use of enzymes to improve the texture, quality, and shelf life of the product. Enzymes find enlarging applications across various industries like food industries, pharmaceuticals industries, and others contributing to their wider spread adaption and market growth. Enzymes are extracted from the different parts of animals including calf stomach, microorganisms, and plant materials, among others. with the emergence of advanced technologies, product manufacturers can choose their required host for production such as transgenic microorganisms or plants.

The key companies are often using microorganisms as hosts including fungi, enzyme-producing yeast, and bacteria at a commercial level. The market is well-established and has significant uses in the biotechnology, detergent, animal feed, food and beverage, pharmaceutical, nutraceutical, and personal care and cosmetics industries. Growing demand from the dairy and brewing industries is the main driver of the market. The expansion of the industry can also be linked to a change in customer preferences for packaged and processed meals as a result of growing awareness of food security and safety.

 Enzyme Market Key Developments:

• In January 2024: Novo enzyme and Chr Hansen completed their merger, resulting in the establishment of Novonesis. As a BioSolutions partner, Novonesis aims to enhance business, promote healthier lives, and a healthier planet. The combined expertise of the company spans over 30 different countries.
• In December 2023: IFF and Kemira (Finland) collaborated to commercialize renewable polymers from IFFs Designed Enzymatic Biomaterial (DEB) technology, integrating production into Chemigate Ltd biorefinery in Finland by mid-2024.this innovation addresses the demand for the sustainable alternative in pulp, paper, water treatment, and other markets. By expanding DEB technology, IFF offers high-performance, sustainable material, enhancing its enzyme industry presence and supporting a circular bioeconomy.